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OPEC oil output boost in December again undershoots target

The increase in OPEC’s oil output in December has again undershot the rise planned under a deal with allies, a Reuters survey found, highlighting capacity constraints that are limiting supply as global demand recovers from the pandemic.

OPEC, allies agree to pump more oil, shrugging off Omicron

OPEC and its allies decided on Tuesday to maintain their policy of modestly boosting oil output next month as the rapidly spreading Omicron variant has so far not heavily hit demand.

OPEC+ lifts crude output by 500,000 bpd in Nov. amid Omicron uncertainty

OPEC and its allies boosted crude oil production by 500,000 bpd in November, with 80% of the increase attributed to five members – Saudi Arabia, Russia, Iraq, Kazakhstan and Nigeria – according to the latest S&P Global Platts survey.

OPEC will continue with supply adjustments for oil market, chief says

The Organization of the Petroleum Exporting Countries (OPEC) will continue with its supply adjustments for the oil market, the OPEC secretary general said.

Oil rises as OPEC+ poised to act if demand weakens

Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy at short notice if oil demand collapsed due to a rising number of lockdowns, while Brent was on course for a sixth week of declines.

OPEC+ to meet as Omicron sparks price turmoil

OPEC and the oil group's allies hold a key output meeting on Thursday facing new challenges as the Omicron coronavirus variant has roiled markets and other US-led nations decided to tap their strategic reserves.

OPEC+ may drop plan to raise output

OPEC+ is monitoring developments around the new coronavirus variant, sources said, and is inclined to ditch its plan to raise output.

Oil rises above $80 after U.S. taps emergency reserves

Oil prices rose towards $81 a barrel on Tuesday after a move by the United States and other consumer nations to release tens of millions of barrels of oil from reserves to try to cool the market fell short of some expectations.

OPEC member calls for calm after U.S. pressure to pump more oil

The United Arab Emirates’ energy minister on Wednesday defended OPEC and its allies’ decision to not increase oil supply to the market, despite U.S. pressure to pump more.

OPEC chief urges output caution as signs of oil surplus grow

OPEC is seeing signs of an oil supply surplus building from next month so its members and allies will have to be "very, very cautious" when they review output policy at regular monthly meetings, the group's secretary general said on Tuesday.

OPEC says high prices to dampen pace of oil demand recovery

OPEC cut its world oil demand forecast for the last quarter of 2021 as high energy prices curb the recovery from COVID-19, delaying the timeline for a return to pre-pandemic levels of oil use until later in 2022.

Iran crude oil output up 0.8% in September: OPEC sources

Latest figures by the Organization of Petroleum Exporting Countries (OPEC) showed that Iran’s crude oil output rose slightly in September to reach 2.5 million barrels per day (mbd).

Iran’s Ministry of Petroleum won’t wait for negotiations: Owji

Iran’s Ministry of Petroleum will not wait for the decisions and negotiations, Iranian Minister of Petroleum said on Thursday after 22nd OPEC and non-OPEC Ministerial Meeting.

Twin peaks: Whether it's supply or demand, oil era heads for crunch time

Energy transition and peak demand predictions have spooked investors in oil, putting the prospect of peak production sooner than anticipated accompanied by wild price spikes.

Oil market still faces uncertainties due to COVID-19, OPEC chief says

The oil market continues to face uncertainties stemming from the COVID-19 pandemic, OPEC Secretary General Mohammad Barkindo told reporters on the sidelines of an energy forum in Moscow.