An OPEC+ ministerial panel, called the Joint Ministerial Monitoring Committee, decided to maintain the group’s current oil output policy during a meeting

Saudi Arabia will extend a voluntary oil output cut of one million barrels per day for another month to include September, it said, adding it could be extended beyond that or deepened

OPEC+ is unlikely to tweak its current oil output policy when a panel meets on Friday, as tighter supplies and resilient demand drive an oil price rally

A survey found that OPEC pumped 27.34 million barrels per day (bpd) this month, marking a decline of 840,000 bpd from June. This is the lowest output level since September 2021

Bolstered by supply cuts from the OPEC+ alliance announced earlier this month, both oil benchmarks are on track for a 3.6% weekly increase

Equinor posted a 57% year-on-year decline in second quarter core profit, in line with expectations as oil and gas prices fell, while maintaining its dividend and share buyback levels, sending its shares slightly lower

The International Energy Agency (IEA) will revise its global oil demand growth projections based on the economic growth prospects of China and some other countries, its executive director Fatih Barol said

Current actions by OPEC+ to support the oil market are sufficient for now, UAE Energy Minister Suhail al-Mazrouei said, but the group is “only a phone call away” if any further steps are needed

Commerzbank cut its 2023 and 2024 oil price forecasts, reflecting pessimism in the market over the economic outlook despite supply cuts from key producers that could contribute to a deficit

OPEC’s forecast for 2024 will likely be lower than the growth it expects this year of 2.35 million barrels per day, or 2.4 percent, an abnormally high rate as the world moved out of the pandemic