Opec

Oil rises after Opec+ pauses output hikes beyond December amid glut fears

Opec Secretary-General Haitham al-Ghais (centre), attending a plenary session of the Russian Energy Week forum in Moscow on Oct 16.

Saudis cut oil prices for Asia as Opec+ ramps up output

State producer Saudi Aramco is lowering the price for its flagship crude to its biggest market by US$1 a barrel for shipments in October.

Kuwait oil minister says OPEC monitoring market, Trump remarks on Russian oil

FILE PHOTO: A view shows a pressure gauge near oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/File Photo

Oil drops after Opec+ supply hike amplifies concerns over glut

Another major output increase from Opec+ comes as the US-led trade war may be exacting a toll on economic growth and energy consumption.

Opec trims oil demand for next four years, says no peak in sight

Opec’s forecasts for demand in 2026 through 2029 are all lower than 2024.

Oil falls as Opec+ output hike raises glut concerns

Opec+ agreed to a bigger-than-expected production increase in August just as US tariffs fan fears about the demand outlook.

News analysis

Oil prices set to test US$60 lows by end-2025 as supplies surge after Mid-East ceasefire

As oil prices fell this week, the cost of shipping Middle East crude to Asia also declined by 17 per cent to 55.50 Worldscale points.

OPEC expects solid second-half of 2025 for world economy, trims 2026 supply

Oil jumped on Friday nearing US$80 a barrel after air strikes by Israel and Iran raised concern about supply.

Oil prices rise as Israel launches air strikes on Iran, putting in doubt Mid-East supplies

The worsening Middle East conflict raises the risk of disruptions to oil supplies from key oil- producing nations in the region.

Iraq holds Kurdish government legally responsible for continued oil smuggling

FILE PHOTO: Kurdish protesters block the road in front of trucks carrying oil in the Arbat area near Sulaymaniyah, Iraq February 23, 2025. REUTERS/Ako Rasheed/File Photo

E-paper

Newsletters

Podcasts

RSS Feed

About Us

Terms & Conditions

Privacy Policy

Need help? Reach us here.

Advertise with us

MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2025 SPH Media Limited. All rights reserved.