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Opec sticks to plans as oil prices surge after Iran's missile attack on Israel

Senior ministers from Opec and its allies have kept to current plans to reduce production. Crude prices have spiked due to concerns over a potential major production disruption following Iran's missile attack on Israel.

CNN on MSN · 3h

Gulf countries ‘concerned to a certain extent” about a potential Israeli attack on Iranian oil facilities

Ali Shihabi, author and commentator on Saudi Arabia’s politics and economics, tells Becky Anderson that the Gulf Cooperation Council countries are “stuck in the middle” as tensions escalate between Iran and Israel.

The Wall Street Journal on MSN · 23h

Oil Surges After Biden Says U.S. Discussing Israel Attack on Iran Facilities

A rise in oil prices intensified Thursday after President Biden suggested that U.S. officials are considering whether to support an Israeli strike on Iranian oil facilities, a move that could push gasoline prices higher just weeks before the presidential election.

OPEC, Saudi Arabia

Reuters · 2d

OPEC rebuts WSJ article on Saudi saying oil prices could drop to $50

OPEC rebutted a Wall Street Journal report on Wednesday, calling it wholly inaccurate and misleading in saying that Saudi Arabia's energy minister warned oil prices will drop to $50 per barrel if OPEC+ members do not stick to agreed-upon production limits.

MarketWatch on MSN · 2d

OPEC objects to report about Saudi minister’s warning about production cuts

Saudi Arabia’s oil minister reportedly warned fellow producers that oil could drop to $50 if they don’t comply with agreed production cuts.

Hosted on MSN · 2d

Saudi minister says crude prices could fall 33% if OPEC members don't stop pumping so much

Saudi Arabia's oil minister says oil prices could fall as low as $50 per barrel if OPEC+ keeps overproducing, according to a Wall Street Journal report. Prince Abdulaziz bin Salman's forecast, made during a conference call last week,

OPEC oil output drops in September on Libyan outage, Reuters survey finds

OPEC oil output fell in September to its lowest this year, a Reuters survey found on Thursday, as unrest disrupted Libyan ...

TradeWinds10h

Opec decision to focus on market share tipped to create six-figure VLCC frenzy

Jefferies’ Omar Nokta said Opec’s signalling that it was shifting away from price protection and toward fighting for market ...

4don MSN

Second oil company CEO conspired with OPEC to keep prices high, FTC charges

Federal regulators are alleging a major oil company CEO conspired with foreign governments to keep oil and gas prices high.

Vanguard14h

FG set to meet 1.5mbdp crude production quota set by OPEC

The Minister of State for Petroleum Resources, Mr. Heineken Lokpobiri, has said that Nigeria will comply with the production ...

OPEC’s Crude Output Fell Sharply in September on Libyan Disruption

OPEC’s crude production declined sharply last month after a political crisis slashed supplies from Libya. Output from the Organization of Petroleum Exporting Countries slumped by 480,000 barrels a day ...

Nairametrics10h

Nigeria’s crude oil production declines by 40,000 bpd as OPEC’s output drops in September – Report

Nigeria continues to struggle to meet its OPEC’s quota as its crude oil production fell by 40,000 barrels per day ...

OPEC sticks to output policy as Iraq, Kazakhstan, and Russia pledge to offset overproduction

Even as geopolitical tensions mount, a panel meeting of OPEC on Wednesday maintained status quo on the cartel’s oil output ...

Oil forecasts cut for 5th straight month on demand, OPEC uncertainty

Analysts have cut their 2024 oil price forecasts for a fifth consecutive month, citing weaker demand and uncertainty over ...

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