OPEC

Angola to leave OPEC over disagreement on oil production quotas
Oil minister says country ‘gains nothing’ from remaining in the group after disagreements emerge over production cuts.
Published On 21 Dec 2023
OPEC+ agrees voluntary oil production cuts
Saudi Arabia, Russia and other members of OPEC+ agreed to voluntary output cuts for the first quarter of 2024.
Published On 30 Nov 2023
From: Counting the Cost
Will food prices get higher?
The war in Ukraine, heatwaves and export bans on essential staples – threats to food supplies are rising once again.
Video Duration 25 minutes 55 seconds
Published On 29 Jul 2023
Video Duration 25 minutes 55 seconds
Iraq approves record $153bn budget aimed at creating jobs
Iraq passes its largest budget till date aimed at creating public sector jobs and build war-damaged infrastructure.
Published On 12 Jun 2023

Saudi Arabia goes it alone in cutting oil production by one million barrels a day starting in July.

The rest of the OPEC+ oil producers agreed to extend earlier cuts in supply through the end of 2024.

In a surprise move, OPEC+ slashes oil production by 1.6 million barrels a day starting in May.

OPEC president talks to Al Jazeera about output cuts, price volatility, and the war in Ukraine and its effect on prices.

Refiners in India, the world’s third-biggest oil consumer and importer, have been gorging on discounted Russian oil.

Cartel wants to gauge impact of two measures aimed at hitting Russia’s oil revenues: price cap and EU boycott.

Turkey’s foreign minister slams US for ‘bullying’ Saudi Arabia after OPEC+ announced oil production cuts.

Analysts say shared interests will sustain ties despite Washington’s promise of ‘consequences’ over oil production cuts.

OPEC+ group has agreed to its deepest cuts to oil production since the coronavirus pandemic, and the US is not happy.

The US criticised the kingdom for insisting last week’s output cut was economically rather than politically motivated.

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