OPEC

• Oil market remains strong despite negative sentiment: OPEC

  OPEC on Monday said oil market fundamentals remained strong and blamed speculators for a drop in prices as it slightly raised its 2023 forecast for global oil demand growth.

  Economy

  Nov 13, 2023
  
• Russia, Saudi Arabia cut oil supply again to raise price

  Saudi Arabia and Russia are extending cuts to the amount of oil they pump to the world in a bid to prop up price to boost income from the fossil fuel.

  World

  Jul 3, 2023
  
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• How much will gas cost this summer? Here’s what Canadians can expect

  Gas Buddy is warning that while prices for gasoline have dropped the last week, recent decisions to cut the supply of oil could place upward pressure on prices.

  Canada

  Jun 6, 2023
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• ‘Alberta should be a little worried’: Saudi Arabia responds to uncertain outlook for oil demand

  Alberta experts react to Saudi Arabia's announcement to cut oil output to limit supply as OPEC+ tries to boost drooping oil prices.

  Economy

  Jun 4, 2023
• Oil prices could hit US$100 a barrel this year, industry experts say

  A surprise production cut of more than a million barrels per day unexpectedly announced by OPEC+ on Sunday sent oil futures surging.

  Money

  Apr 4, 2023
• Saudi Arabia, other OPEC+ nations will further slash oil production

  Saudi Arabia and other OPEC+ oil producers on Sunday announced further cuts in their production amounting to around 1.16 million barrels per day in a surprise move.

  Economy

  Apr 2, 2023
• OPEC+ oil targets unchanged as Russian price caps spark uncertainty

  The Saudi-led OPEC oil cartel and allied producers did not change their targets for shipping oil amid uncertainty about the impact of new Western sanctions against Russia.

  World

  Dec 4, 2022
• Saudi Arabia says OPEC+ sticking with oil output cuts despite reports

  Saudi Arabia said that OPEC+ was sticking with oil output cuts, denying a report it was considering boosting output, according to state news agency SPA.

  World

  Nov 21, 2022
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• OPEC slices oil demand growth forecast again as economic challenges mount

  The group, which recently cut production targets, will remain cautious, Saudi Arabia's energy minister was quoted as saying last week.

  World

  Nov 14, 2022
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• OPEC+ will slash oil production next month. Will Canadian gas prices change?

  OPEC+ will slash its global output by two million barrels per day in November at a time when international inventories of crude oil remain tight.

  Canada

  Oct 26, 2022