After very low Brent oil prices at the end of 2024, where the average price fluctuated around $80, March brings us the lowest price in the past six months. The reason for this is the announcement of ...

Kazakhstan, a member of OPEC+, is currently producing oil at a record high, significantly exceeding its target set in agreement with the producer group. This surge in production comes after American ...

OPEC+ decided to increase oil output for the first time since 2022, influenced by record production in Kazakhstan. The ...

The increase is the first since 2022 by OPEC+, which includes the Organisation of the Petroleum Exporting Countries, Russia ...

As OPEC+ debated whether to keep oil output steady due to weak global demand or pump more in response to internal pressure ...

Oil prices had already been trading lower in the last few weeks, partly because of expectations that US president Donald ...

"Kazakhstan reaffirms its unwavering commitment to the OPEC+ agreement. In February, the country implemented all requisite ...

Kazakhstan intends to compensate for the overproduction of oil ahead of schedule from January 2024 within the OPEC+ deal, the press service of the country's Energy Ministry said. "Kazakhstan will take ...

The meeting was held by eight countries that previously announced additional voluntary adjustments in April and November 2023 ...

UAE affirms commitment to full conformity with additional voluntary production adjustments approved by OPEC+ ...

This gradual increase may be paused or reversed subject to market conditions', a statement posted on OPEC's site noted.

At the same time, OPEC's policy on production increases remains flexible. "This gradual increase may be paused or reversed subject to market conditions. This flexibility will allow the group to ...