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1 week ago | 
zawya.com | Olesya Astakhova |Ahmad Ghaddar
LONDON/MOSCOW: OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group's leader Saudi Arabia seeks to punish some fellow members for producing above quotas. OPEC+ shocked oil markets in April by agreeing a bigger-than-expected output hike for May despite weak prices and slowing demand.
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1 week ago | 
theglobeandmail.com | Olesya Astakhova |Ahmad Ghaddar
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1 week ago | 
marketscreener.com | Olesya Astakhova |Ahmad Ghaddar
LONDON/MOSCOW (Reuters) -OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group's leader Saudi Arabia seeks to punish some fellow members for producing above quotas. OPEC+ shocked oil markets in April by agreeing a bigger-than-expected output hike for May despite weak prices and slowing demand.
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1 week ago | 
marketscreener.com | Olesya Astakhova |Ahmad Ghaddar
LONDON (Reuters) -OPEC+ plans to further accelerate oil output hikes and could unwind its 2.2 million barrels per day of voluntary cuts by the end of October if members do not improve compliance with their production quotas, four sources from the group said. OPEC+ shocked the oil market in April by agreeing a faster-than-expected unwinding of cuts despite weak prices and demand. The move was designed by OPEC+ leader Saudi Arabia to punish some members for poor quota compliance, sources have said.
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1 week ago | 
ca.finance.yahoo.com | Olesya Astakhova |Ahmad Ghaddar
LONDON/MOSCOW (Reuters) -OPEC+ plans to further accelerate oil output hikes and could unwind its 2.2 million barrels per day of voluntary cuts by the end of October if members do not improve compliance with their production quotas, five sources from the group said. OPEC+ shocked the oil market in April by agreeing a faster-than-expected unwinding of cuts despite weak prices and demand.
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1 week ago | 
marketscreener.com | Olesya Astakhova |Ahmad Ghaddar
LONDON/MOSCOW (Reuters) -OPEC+ plans to further accelerate oil output hikes and could unwind its 2.2 million barrels per day of voluntary cuts by the end of October if members do not improve compliance with their production quotas, five sources from the group said. OPEC+ shocked the oil market in April by agreeing a faster-than-expected unwinding of cuts despite weak prices and demand.
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1 week ago | 
usnews.com | Ahmad Ghaddar |Olesya Astakhova
By Ahmad Ghaddar, Maha El Dahan and Olesya AstakhovaLONDON/DUBAI (Reuters) -OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand. Following an online meeting lasting just over an hour, the producer group announced the supply increase, saying the fundamentals of the oil market were healthy and inventories were low.
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1 week ago | 
salemnewschannel.com | Ahmad Ghaddar |Olesya Astakhova
FILE PHOTO: Illustration shows OPEC logo By Ahmad Ghaddar, Maha El Dahan and Olesya AstakhovaLONDON/DUBAI (Reuters) -OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.
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1 week ago | 
gazette.com | Ahmad Ghaddar |Olesya Astakhova
By Ahmad Ghaddar, Maha El Dahan and Olesya AstakhovaLONDON/DUBAI (Reuters) -OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand. Following an online meeting lasting just over an hour, the producer group announced the supply increase, saying the fundamentals of the oil market were healthy and inventories were low.
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2 weeks ago | 
zawya.com | Ahmad Ghaddar |Olesya Astakhova |Alex Lawler
LONDON: Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, five sources with knowledge of the talks said. This possible shift in Saudi policy could suggest a move toward producing more and expanding its market share, a major change after five years spent balancing the market through deep output as a leader of the OPEC+ group of oil producers.
