Also known as: Opec+ · the OPEC+ grouping · OPEC+ grouping
OPEC — organization that forecasts global oil demand and sets production quotas for member states.
Verbatim sentences from the source article.
Joy Online
… That enabled exports from the OPEC kingpin to recover to over 4 million barrels per day (bpd) so far in September after slumping to 2.4 million bpd in August, the lowest since at least 2013, according to provisional data from analytics firm Kpler. …
Oil hits over 1-week low on hopes of boost to diplomacy in Iran warJoy Online
… While non-OPEC oil producers including the United States, Canada and Guyana have ramped up output, the International Energy Agency said last month it expected global oil supply would fall this year by 4.3 million bpd, or about 4%.
Brent crude rises above $100 a barrel as Middle East conflict intensifiesJoy Online
… OPEC+ kept its oil output policy unchanged for October at a meeting on Sunday, the producer group said in a statement, as it needs to agree new quotas before deciding its next output steps. …
Oil extends gains after US and Iran strike shipsJoy Online
… U.S. companies Chevron and GE Vernova, India’s ONGC, Italy’s Eni and Colombia’s GeoPark are on track to sign final agreements in Venezuela after months of negotiations to firm up energy projects in the OPEC country, five sources close to the preparations said on Monday. …
Oil prices rise as latest fighting resurrects Middle East supply disruption risksJoy Online
… The prospect of a longer war constraining supply was offset this week by forecasts from OPEC and the International Energy Agency lowering outlooks for demand growth, while data showed the largest weekly gain in U.S. …
Oil steadies after US threatens indefinite blockade of IranJoy Online
OPEC on Wednesday lowered its forecast for world oil demand growth in 2026 to 580,000 barrels per day, a copy of its monthly report showed, marking the fourth straight downward revision. …
OPEC further lowers 2026 global oil demand growth forecastJoy Online
… Further supporting prices, OPEC+ is likely to halt oil output increases for three months starting in October, sources told Reuters, after the producer group completes the scheduled return of barrels following voluntary cuts.
Oil rises as US-Iran tension escalates after Iraq strikes, missile attackJoy Online
… Iraq grapples with the challenge faced by many oil-producing nations: attracting investment and expanding production while remaining constrained by the OPEC+ producers’ group output limits. …
Iraq’s oil minister says US energy deals worth about $200 billionJoy Online
… The United Arab Emirates raised crude output above 3.8 million bpd in June, its highest since April 2020 and above pre-Iran war levels, after leaving OPEC+ production quotas in May, according to Reuters estimates. …
Oil prices gain as focus shifts to supply recovery and demandJoy Online
… Kuwait’s oil production rose sharply to 1.65 million barrels per day in June from 580,000 bpd in May, a source familiar with the matter told Reuters on Thursday, as the OPEC member boosted exports following the U.S.-Iran interim peace agreement. …
Oil up slightly ahead of long US weekend as peace efforts holdOil prices hit their lowest in over a week on Monday as investors bet on potential diplomacy between the US and Iran during a UN meeting this week, though the two countries exchanged threats on Sunday. Brent crude fell to $101.71 a barrel and US West Texas Intermediate dropped to $98.15 a barrel, breaking below the $100 psychological support level.
21 September 2026 · Joy Online →
Oil prices hit their lowest in over a week on Monday as investors bet on potential diplomacy between the US and Iran during a UN meeting this week, though the two countries exchanged threats on Sunday. Brent crude fell to $101.71 a barrel and US West Texas Intermediate dropped to $98.15 a barrel, breaking below the $100 psychological support level.
21 September 2026 · Joy Online →
Brent crude oil futures surpassed $100 a barrel on Wednesday, a more than six-week high, amid intensifying Middle East conflict that threatens oil flows from the region. Prices have risen a quarter since early last month as the six-month-old U.S.-Iran conflict continues, with recent Houthi attacks on Saudi energy facilities and crude shipments via the Red Sea raising supply concerns.
9 September 2026 · Joy Online →
Oil prices extended gains on Monday following tit-for-tat strikes between the U.S. and Iran on vessels in the Strait of Hormuz and other areas, raising concerns about supply disruption from the Middle East. Brent crude climbed to $96.80 a barrel while U.S. West Texas Intermediate reached $92.14 a barrel, with an average of 10 commodity ships transiting the Strait of Hormuz per day over the past 10 days—the lowest since May.
7 September 2026 · Joy Online →
Oil prices gained on Tuesday as renewed fighting between the U.S. and Iran in the Middle East raised fears of supply disruptions, with Brent crude up 0.6% to $91.05 a barrel and U.S. West Texas Intermediate up 1% to $86.59. The escalation, including President Trump's threat of further strikes following Sunday's direct attacks, has raised concerns about potential damage to energy infrastructure around the Gulf and shipping disruptions through the Strait of Hormuz.
1 September 2026 · Joy Online →
Oil prices edged up on Friday after the United States threatened an indefinite naval blockade of Iran, offsetting earlier bearish signals from weaker demand outlook and large US stock builds. Brent crude rose to $87.08 a barrel and WTI to $81.31 a barrel, with both benchmarks tracking weekly gains of about 4%.
14 August 2026 · Joy Online →
OPEC on Wednesday cut its forecast for world oil demand growth in 2026 to 580,000 barrels per day, marking the fourth consecutive downward revision. The group raised its 2027 oil demand growth forecast, though it continues to forecast less impact from the Iran war than the International Energy Agency.
13 August 2026 · Joy Online →
Oil prices rose more than $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia and the interception of Iran's ballistic missiles aimed at U.S. forces in the Middle East. Brent futures increased 3.9% to $87.39 a barrel, while U.S. WTI crude rose 3.8% to $82.31 a barrel.
29 July 2026 · Joy Online →
Iraq's oil minister said agreements signed between the Iraqi oil ministry and U.S. companies during Prime Minister Ali al-Zaidi's U.S. visit are estimated at $200 billion and would add oil production capacity and increase investment in associated gas projects.
22 July 2026 · Joy Online →
Brent crude gained 0.39% to $72.29 and U.S. West Texas Intermediate rose 0.26% to $68.84 a barrel as traders shifted focus from easing Middle East tensions to supply increases and demand prospects. The U.A.E. raised crude output above 3.8 million bpd in June, its highest since April 2020, after leaving OPEC+ production quotas in May.
7 July 2026 · Joy Online →
Brent crude and West Texas Intermediate rose slightly on Friday before a long U.S. holiday weekend, as wary optimism held over peace efforts between the United States and Iran in the Middle East. Shipping has partially resumed through the Strait of Hormuz, and Gulf producers are ramping up production following an initial deal between the two countries.
3 July 2026 · Joy Online →
Oil prices dropped about 1% on Thursday following Qatar's announcement that US and Iran made progress in indirect talks focused on the Strait of Hormuz, with Brent crude falling to $70.80 per barrel and US West Texas Intermediate to $67.74, hitting four-month lows as expectations of oversupply pressure prices downward.
2 July 2026 · Joy Online →
Oil prices declined more than 1% on Wednesday to their lowest levels since March, with Brent crude settling at $71.57 a barrel and U.S. West Texas Intermediate at $68.58, as optimism over U.S.-Iran negotiations in Qatar eased supply concerns following President Trump's statement that talks had gone well.
1 July 2026 · Joy Online →
Former Nigerian Petroleum Minister Diezani Alison-Madueke has been found not guilty of bribery at a London court, ending a 13-year UK National Crime Agency investigation. Alison-Madueke, who served as petroleum minister from 2010 to 2015 and was the first female president of Opec, said the investigation cost her freedom of movement, her career, and her reputation.
23 June 2026 · Joy Online →
Diezani Alison-Madueke, former Nigerian oil minister, was acquitted of five bribery charges at Southwark Crown Court after a 13-year investigation by the UK's National Crime Agency. She said the investigation and prosecution destroyed her reputation, restricted her freedom to travel and work, and were "painful and traumatic."
23 June 2026 · Joy Online →
Diezani Alison-Madueke, Nigeria's oil minister from 2010 to 2015 and former Opec president, was found not guilty of accepting bribes from oil executives in the form of luxury stays and spending in the UK. Her brother and an oil industry executive were also acquitted in the trial at London's Southwark Crown Court.
17 June 2026 · Joy Online →
Oil prices jumped as Tehran declared the Strait of Hormuz closed following fresh U.S. strikes against Iran, with President Trump threatening further attacks. Brent futures rose 1.59% to $94.58 a barrel and U.S. crude climbed 1.90% to $91.74.
11 June 2026 · Joy Online →
Ratings agency Fitch has revised its forecast for Brent crude to US$87 per barrel, up from US$70, citing oil shocks as a headwind to world growth; the firm also examined an adverse scenario where oil prices could average US$100 per barrel in 2026 given persisting geopolitical uncertainties.
5 June 2026 · Joy Online →
Brent crude fell 0.22% to $95.24 a barrel and U.S. West Texas Intermediate dropped 0.11% to $92.94 a barrel on Friday, as prospects for a near-term end to the U.S.-Israeli war with Iran dimmed following Hezbollah's rejection of a ceasefire in Lebanon. Both contracts are set to post their first weekly gain in three weeks, with WTI up more than 6%, amid Middle East tensions and concerns about falling global oil inventories.
5 June 2026 · Joy Online →
Iraq has offered term buyers May-loading Basrah crude at steep discounts for loading inside the Strait of Hormuz, which has been largely blocked since the Iran conflict began. The discounts — $33.40 and $26 per barrel for Basrah Medium, and $30 per barrel for Basrah Heavy — reflect mounting pressure on Iraqi crude exports amid persistent shipping risks in the waterway.
6 May 2026 · Joy Online →
Brent oil prices rose as much as 7% on Thursday following reports that the U.S. is considering potential military action against Iran to break a deadlock in nuclear negotiations, raising concerns about further disruptions to Middle East energy exports. The June Brent contract rose $6.81 to $124.84 a barrel, with both Brent and WTI benchmarks on track for their fourth consecutive month of gains.
30 April 2026 · Joy Online →
President Donald Trump intensified threats against Iran over a maritime standoff in the Middle East affecting global energy markets, warning the Islamic Republic to "get smart soon" and signalling an end to patience regarding a blockaded Strait of Hormuz. The escalation follows collapsed diplomatic tracks and a recent joint military campaign targeting Iranian leadership and infrastructure.
29 April 2026 · Joy Online →
The United Arab Emirates is leaving OPEC and OPEC+ next month, citing the need for flexibility to meet growing global energy demand after recent investments in production capacity. Analysts describe the exit as potentially weakening the cartel, and the move is seen as aligning with US interests under President Donald Trump.
29 April 2026 · Joy Online →