Saudi Arabia’s crude oil exports surged in June, reaching their highest level in more than a year. According to Kpler data, the kingdom increased its exports by 450,000 barrels per day (bpd) from May’s figures, bringing the total to 6.33 million bpd. This uptick occurred amidst concerns about potential supply disruptions due to ongoing conflicts...
OPEC+ has decided to increase oil production by 411 000 barrels per day starting in June. This decision is anticipated to further decline crude prices, a trend already set in motion by recent tariff announcements from President Trump. The increase in output comes as part of OPEC+’s ongoing efforts to manage global oil supply effectively....
OPEC has announced updated plans requiring seven countries, including Saudi Arabia and the UAE, to implement further oil output cuts. This decision comes as these nations have been pumping above the agreed quotas. The announcement was made on Wednesday, indicating that the new measures aim to stabilize the oil market amid ongoing adjustments since late...
OPEC+ has announced plans to increase oil production in May 2025. The eight participating countries, which include Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, will implement a production adjustment of 411 thousand barrels per day. This adjustment represents three monthly increments and aims to support the stability of the oil market....
The OPEC Fund for International Development is making a significant investment in renewable energy by co-financing Africa’s largest onshore wind power project. The fund is contributing US$30 million towards the construction of two wind farms, each with a capacity of 550 MW, located in Egypt’s Gulf of Suez region. Together, these facilities will have a...