Production improved in 2025 to an annual average of 1.453 million bpd, according to OPEC, reflecting gradual recovery efforts in the upstream sector. However, OPEC’s calculation is based on only oil production and not condensate output.
Total crude production by the OPEC+ alliance, comprising OPEC members and some major non-OPEC producers, fell by 439,000 bpd to 42.45 million bpd during the same period ... OPEC kept its global oil demand ...
Oil demand is projected to rise by 1.34 million barrels a day next year supported by easing inflation, fiscal measures and improving global trade ... .
Nigeria has failed to meet its assigned oil production quota for the sixth consecutive time in January 2026, according to. read more Nigeria misses OPEC oil production quota for sixth straight month ....
11 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that it is maintaining its previous forecasts for global oil demand growth in 2026 and 2027.
Market participants say the decision signals Opec+’s determination to prevent excessive volatility while ensuring that prices remain supported at levels comfortable for major producers ... Opec’s own ...
a significant diplomatic de-escalation between the United States and Iran and a strategic decision by the OPEC+ alliance to pause planned production hikes through March ... Adding to the downward pressure was a pivotal meeting of OPEC+ leadership.