Saudi Arabia, the UAE, Bahrain, Kuwait, Oman, and Qatar — hold approximately 32.6% of the world’s proven crude oil reserves.

Inayat-ur-Rahman, Business Editor / Reuters Eight Opec+ countries unexpectedly agreed to advance their plan to phase out oil ...

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The eight OPEC+ countries, which previously announced additional voluntary ... since January 2024 and to submit updated front-loaded compensation plans to the OPEC Secretariat by April 15, 2025, which ...

OPEC forecasts additional global refining ... The strategy of boosting fuel exports also allows the Gulf OPEC+ countries to supply more markets than if they focused solely on shipping crude.

It was one of the few countries in the Gulf that had a semblance of democracy ... Kuwait’s current export quota is 2.4mn barrels per day under Opec’s scheme to manage oil supply, but the ...

Nymex WTI prices were down 6.41% at $67.11 per barrel. The OPEC countries were expected to ramp up production by just under 140,000 barrels a day. They said this move will increase the ...

But after a meeting of the eight countries held online on Thursday, the group announced it would boost output by 411,000 bpd in May. Opec cited “continuing healthy market fundamentals and the ...

OPEC forecasts additional global refining capacity growth of 6.3 million bpd by 2029 driven by the Middle East, Asia Pacific and Africa. Seaborne crude exports from the five countries fell by ...

But after a meeting of the eight countries held online on Thursday, the group announced it would boost output by 411,000 bpd in May. OPEC cited “continuing healthy market fundamentals and the ...