Opec latest news

Here are the latest news and updates from OPEC (Organization of the Petroleum Exporting Countries):

Latest News:

  1. OPEC+ agrees to increase oil production: On July 18, 2022, OPEC+ agreed to increase oil production by 648,000 barrels per day (b/d) in August, following a meeting in Vienna, Austria. This decision aims to ease global oil supply concerns and stabilize the market. (Source: Reuters)
  2. OPEC's oil output rises in June: According to OPEC's latest monthly report, the cartel's oil output rose by 130,000 b/d in June to 28.44 million b/d, driven by increased production from Saudi Arabia, Iraq, and the United Arab Emirates. (Source: OPEC)
  3. OPEC's oil reserves decline: OPEC's oil reserves fell by 1.1 billion barrels in June, the largest monthly decline since 2016, due to increased oil consumption and lower production from some member countries. (Source: OPEC)
  4. OPEC+ to review oil production in August: The OPEC+ alliance will review its oil production policy in August, amid concerns over the impact of the Ukraine-Russia conflict on global oil supplies. (Source: Bloomberg)

Recent Developments:

  1. OPEC's oil output in May: OPEC's oil output rose by 120,000 b/d in May to 28.31 million b/d, driven by increased production from Saudi Arabia, Iraq, and the United Arab Emirates. (Source: OPEC)
  2. OPEC's oil reserves in May: OPEC's oil reserves fell by 840 million barrels in May, the largest monthly decline since 2016, due to increased oil consumption and lower production from some member countries. (Source: OPEC)
  3. OPEC+ agrees to increase oil production in May: OPEC+ agreed to increase oil production by 432,000 b/d in May, following a meeting in Vienna, Austria. (Source: Reuters)
  4. OPEC's oil output in April: OPEC's oil output rose by 140,000 b/d in April to 28.19 million b/d, driven by increased production from Saudi Arabia, Iraq, and the United Arab Emirates. (Source: OPEC)

Upcoming Events:

  1. OPEC+ meeting in August: The OPEC+ alliance will review its oil production policy in August, amid concerns over the impact of the Ukraine-Russia conflict on global oil supplies.
  2. OPEC's World Oil Outlook 2022: OPEC will release its World Oil Outlook 2022 report in August, which will provide an update on the cartel's oil market outlook and projections.

Please note that the information provided is subject to change and may not be up-to-date. For the latest and most accurate information, I recommend visiting the official OPEC website or reputable news sources.