New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers, whose plans to cut output have irked consumer countries

OPEC+ member states lined up to endorse the steep cut to its output target agreed this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing some other nations into supporting the move

OPEC cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year’s figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and high inflation

U.S. oil demand and production is expected to grow more slowly than previously forecast for the remainder of this year and in 2023, the U.S. Energy Department said

OPEC+ agreed steep oil production cuts, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted

OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness

U.S. crude and fuels stocks posted surprising declines in the most recent week as fuel demand rose and refiners cut runs, the Energy Information Administration said

Global oil stocks are set to rise next year amid weakening demand and a stronger U.S. dollar, executives at an oil conference said, adding that OPEC will have to cut output to reduce supply if they want prices to remain supported

Vaca Muerta is producing a record 91 million cubic meters of gas per day and in December will exceed the ceiling of 308,000 barrels of oil per day, said Omar Gutiérrez, governor of the Argentine province of Neuquen

OPEC and its allies led by Russia agreed to a small oil production cut to bolster prices that have slid on fears of an economic slowdown