The Organization of Petroleum Exporting Countries (OPEC) reduced its crude oil production in March, ahead of its planned production increase for May, a new Bloomberg survey showed on Tuesday.

Goldman Sachs lowered its forecast for Brent crude's average price this year by 5.5% to $69 a barrel and for WTI prices by ...

OPEC+ is expected to agree on a plan that would see production for the group increase in May, OPEC+ sources told Reuters on Tuesday. The OPEC+ group, comprised of the 12 OPEC members—Saudi ...

OPEC+ members committed to unwinding oil production curbs starting in April. The oil cartel has held back supply in an effort to boost crude prices globally. The April timeline is surprising ...

OPEC members collectively supply about 26.80% of the world’s crude oil production. Together, OPEC members control about 79.09% of the world’s total proven crude reserves. OPEC member countries ...

[also] reaffirmed their commitment, noting that these additional voluntary production adjustments have ensured the stability of the oil market.” Opec in December had announced that the voluntary ...

The latter, said Goldman, showed OPEC's flexibility to rapidly implement large output hikes, which diminished the likelihood of a price boost in the short term from lower supply. The brokerage ...

The plan will represent monthly cuts of between 189,000 barrels per day and 435,000 bpd, according to a table, opens new tab on OPEC's web site. The scheduled cuts last until June 2026.

Unlike oil, however, the potash market has a far more favorable industry structure: two-thirds of worldwide potash production comes from just three countries and six companies, while OPEC has a ...

Crude oil futures rose sharply on Friday but still finished with another week of losses, as markets were pushed and pulled by OPEC's decision to go ahead with production increases starting in ...

At the same time, several members of OPEC Plus, including the United Arab Emirates and Iraq, want to increase production, partly to fulfill agreements with international investors. The group also ...