OPEC's oil output increase in May was less than planned, as some members compensated for previous overproduction, according to the latest OPEC Monthly Oil Market Report.

The IEA forecasts a major oil supply glut in 2025, and even if OPEC+ continues to limit production, it won't be enough to address the overhang.

Crude oil futures fell 2% Monday after OPEC reduced its oil demand outlook for 2024 and 2025 once again, citing data received so far this year.

Growing oil production from countries outside OPEC, coupled with uncertain demand, makes it unlikely that OPEC will reverse its production cuts anytime soon.

With OPEC maintaining its bullish oil demand forecast for 2024, this might be the right time to buy stocks like MUSA, EOG and LBRT.

Brazil will start the process of joining the Organization of Petroleum Exporting Countries Plus (OPEC+) alliance this January. OPEC announced the development after a virtual ministerial meeting ...

OPEC raised its world oil demand forecasts for the medium and long term in an annual outlook, and said $14 trillion of investment is needed to meet this demand even as renewable fuel use grows and ...

OPEC has raised its 2023 global oil demand growth forecast in its first upward revision for months, due to China's relaxation of COVID-19 restrictions, and trimmed supply forecasts for Russia and ...

Analysts at Goldman Sachs offered their views on what OPEC may do this year.

OPEC slashed oil demand outlook on Tuesday on signs of global uncertainty. The cartel now predicts demand will be roughly 380,000 barrels a day below previous estimates. "The year 2023 is expected ...

Led by Saudi Arabia, the oil cartel OPEC Plus pledged to reduce output by two million barrels a day.

This paper studies the historical importance of OPEC for oil price fluctuations. An event-study approach is used to identify the effects of OPEC announcements on oil price fluctuations. Results show ...