Opec’s World Oil Outlook 2026 projects global energy demand to rise 23 per cent by 2050, with oil reaching 124 mb/d. It highlights the need for diverse energy sources, expanded access, and sustained investment to balance growth, sustainability and affordability....
The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to continue expanding this year and the next, supported by resilient economic growth, rising mobility and increased industrial activity across major emerging economies....
Despite ongoing disruption to oil flows through the Strait of Hormuz and continued uncertainty surrounding the conflict involving Iran, OPEC has maintained its forecast for global oil demand growth, citing no evidence of a slowdown in consumption....
A Reuters survey showed that oil output Opec fell to a more than 20-year low in April, dropping 830,000 barrels per day to 20.04 million bpd as Strait of Hormuz disruptions linked to the US-Israeli conflict with Iran hit exports....
The UAE is entering “a new chapter” in which it is reshaping its place in the global economy with “confidence, clarity, and ambition”, said Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology....
Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in June, the third consecutive monthly increase, OPEC+ said in a statement. ...
The United Arab Emirates’ planned exit from OPEC and OPEC+ from May 2026 is expected to have limited immediate impact on oil markets in the near term but could weaken the group’s supply management over time, HSBC said, while OPEC+ sources signalled the alliance would remain broadly intact....
The UAE’s decision to exit Opec and Opec+ marks a significant turning point in global oil markets, said a leading market analyst, highlighting shifting geopolitical dynamics and evolving supply expectations. The UAE is leaving the alliance effective May 1, ending nearly six decades of membership. ...
In a shock move poised to rattle global oil markets, the UAE has announced it will exit the Organisation of the Petroleum Exporting Countries and its wider Opec+ grouping, effective May 1, 2026....
Opec lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, the producer group's monthly oil report showed in its first public assessment of the Iran war's impact on the market....
The eight OPEC+ countries, namely the UAE, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, have announced an adjustment to oil production levels, reaffirming their joint commitment to supporting stability in global oil markets, said a report. ...
Opec oil output plunged in March to its lowest level since the height of the Covid-19 pandemic in June 2020, a Reuters survey found, as the US-Israeli war against Iran effectively closed the Strait of Hormuz and forced export cuts....
The Opec-GECF held its Sixth High-Level Dialogue in Vienna, reinforcing cooperation among top oil and gas exporters. They noted record consumption levels and the need for sustained investment in hydrocarbons. Opec projects a 23 per cent rise in global energy demand by 2050....
Global oil supply will match demand in 2026 in a reflection of the wider Opec+ group's production increases and higher supply from other producers, an Opec report showed today, marking a further shift from its earlier projections of a supply deficit....
Seventy energy experts convened at the IEA headquarters in Paris for the 7th Joint IEA-IEF-Opec Symposium, discussing global natural gas and coal market developments. Participants included representatives from the energy sector, international institutions, governments, and academia, focusing on future market evolutions....
The eight Opec+ countries—Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—will adjust production by 137,000 bpd in November due to a stable global economic outlook and low oil inventories....
