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Tag Archives: OPEC

OPEC pumps more oil in July despite cut pledge: IEA

Paris, France | AFP | OPEC pumped more oil in July as global oil supplies rose for the third straight month, the IEA said Friday, giving figures that cast further doubt on the cartel’s pledge to cut output to raise prices. In its monthly report on the global oil market, the …

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OPEC production deal sends world stocks higher

New York, United States | AFP |  US and European markets moved higher on Wednesday as oil producing countries reached a surprise deal to cut oil production, causing crude prices to jump more than five percent. Following the agreement reached in Algiers by members of the Organization of the Petroleum …

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Algeria urges OPEC decision to stabilise oil price

Algiers, Algeria | AFP |  The world’s top oil producers “must take a decision” to stabilise prices, Algeria’s energy minister said on Sunday ahead of an OPEC meeting on Wednesday in Algiers. Oil prices are already depressed after two years of oversupply amid deep disagreements between members of the Organization …

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