Eight OPEC+ countries increase oil output in bid to regain market share
- 03-Aug-2025
Vienna: The eight OPEC+ countries said Sunday they will increase production by 547,000 barrels a day in a move which analysts say aims to regain market share amid resilient crude prices. Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman currently produce about 41-42 million barrels a day, so the increase is […]
Russia says it may cut oil output up to 7%
- 23-Dec-2022
Russia may cut oil output by 5%-7% in early 2023, as it responds to price caps on its crude and refined products, and halt sales to the countries that support them, Deputy Prime Minister Alexander Novak told state television on Friday. Detailing for the first time the Russian response to the price caps introduced by […]
Iran boosts oil output, foreign firms keen to seal deals
- 19-Jan-2016
Iran ordered a sharp increase in oil output on Monday to take immediate advantage of the lifting of international sanctions, and some foreign firms raced to snap up deals as Tehran emerges from years of international isolation.