Tag Archives: OPEC

VIENNA, Austria | TASS | Oil and gas will continue to account for more than 50% of the global energy balance from 2024 through 2050, while oil alone is expected to contribute slightly less than 30% by 2050, according to the OPEC World Oil Outlook (WOO) long-term forecast. OPEC expects …

VIENNA,  | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) said on Monday it would keep its forecasts for global oil demand growth unchanged at 2.9 percent for 2025 and 3.1 percent for 2026. In its latest monthly oil market report, OPEC projected a year-on-year increase of 1.3 …

  Heart Institute Breaks Ground for Construction of 250 Bed Capacity Facility 🟡10 floors (4 Basement levels) 🟡 3 fully equipped operating theatres 🟡 2 Catheterization Labs 🟡 40 ICU beds 🟡 210 regular beds 🟡 Specialized Teaching Hospital Kampala, Uganda | LOUIS JADWONG | Uganda has started building a state-of-the-art …

MOSCOW | TASS | Several OPEC+ countries, including Saudi Arabia and Russia, have begun voluntarily reducing their oil production by an aggregate additional volume of 2.2 mln barrels per day (bpd) in January. The policy will be in force throughout the first quarter and, depending on market conditions, the petroleum …

LUANDA | Xinhua | Angola on Thursday announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), according to the Angolan government’s Facebook page. The decision followed a session of the Council of Ministers, which took place on the same day at the Presidential Palace in the national …

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Thursday announced further production cuts for next year to bolster oil prices that have recently tumbled amid a weakening economic backdrop. Following a virtual meeting of OPEC+ oil …

Kampala, Uganda | THE INDEPENDENT | Petrol prices and global inflation are likely to tick higher again as the OPEC+ group of oil-producing countries will hold production at nine million barrels a day for the rest of the year. In Kampala, a liter of Diesel was at some pump station nearing …

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Sunday agreed to adjust their overall production level to 40.46 million barrels per day (bpd) next year. The oil-producer alliance announced the decision in a statement released after …

Houston, U.S. | Xinhua | Oil prices are falling. Now many experts expect the trend to continue over the next two years, with significant uncertainties ahead. PROJECTED FALLING PRICES The U.S. Energy Information Agency (EIA) forecast earlier this month that the average Brent crude oil price would decrease from 100.94 U.S. …

Russia has made it clear that it will not export oil to countries that enforce price caps Rome, Italy | Xinhua | A price cap on Russian seaborne crude recently agreed by the European Union (EU), the Group of Seven (G7) nations and Australia came into effect on Monday. Whether the …