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Opec

Oil crisis? What oil crisis?

Contrary to dire warnings from market analysts, the global energy sector is proving remarkably resilient despite ongoing geopolitical tensions.

22 Apr 2026-12:35
OPEC cuts Q2 global oil demand forecast amid Iran conflict

On Monday, OPEC revised its forecast for global oil demand in the second quarter, cutting it by 500,000 barrels per day, according to the group's monthly oil report. This was the first public assessment of the war in Iran’s impact on the market.

13 Apr 2026-18:59
OPEC+ agrees to raise oil output amid Mideast tensions

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, announced on Sunday that they will raise oil production by 206,000 barrels per day in May, according to an official statement.

06 Apr 2026-11:06
China buys Venezuelan oil from U.S.

China has reportedly purchased Venezuelan oil that was previously acquired by the United States.

12 Feb 2026-17:17
OPEC+ extends pause on oil output hikes

The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, decided on Sunday to continue pausing planned oil output increases in March, OPEC said in a statement.

02 Feb 2026-09:46
Brent climbs above $70 amid soaring Iran-US tensions

Brent crude prices rose sharply on Thursday, touching a four-month high as markets priced in growing concerns over a possible US military attack on Iran, OPEC’s fourth-largest oil producer with output of around 3.2 million barrels per day.

29 Jan 2026-16:58
Oil dips as market weighs Venezuela turmoil, supply glut

Oil prices edged lower as investors assessed the potential fallout from the capture of Venezuelan President Nicolás Maduro by US forces and what it could mean for global crude supplies and Venezuela’s wider energy sector.

05 Jan 2026-10:53
Yemen tensions won’t alter OPEC+ oil output policy

Rising tensions between Saudi Arabia and the UAE over clashes in eastern Yemen are not expected to impact OPEC+ oil production plans.

02 Jan 2026-20:46
Energy trends 2026: How GB reforms, renewable growth will shape the market

Editor's note: Aysel Mammadzada is an Azerbaijan-based journalist. The views expressed in this article are the author’s own and do not necessarily reflect those of News.Az.

31 Dec 2025-12:00
Oil prices steady after sharp monthly decline

Oil prices stabilized following the biggest drop recorded this month, as traders await key industry reports expected this week to gauge the scale of a potential oversupply.

09 Dec 2025-14:25

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