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Tag Archives: OPEC

Algeria to cut oil output by 12 000 bpd under new OPEC deal

9 December 2019, 8:01 PM

OPEC member Algeria will reduce its crude oil output by 12,000 barrels a day to comply with a deal agreed by other producers with the aim of balancing the global oil market, Energy Minister Mohamed Arkab said on Monday.

The logo of the Organization of the Petroleum Exporting Countries (OPEC)

Saudi Arabia wants OPEC+ to deepen oil cuts due to Aramco IPO

3 December 2019, 7:17 AM

OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington.

IMF approves DRC bailout after China debt deal

12 July 2019, 5:36 AM

IMF demanded that Congo ensure the long-term sustainability of its debt as a precondition for a three-year extended credit facility programs.

The price of 93 unleaded petrol now costs 96 cents less a litre, while 95 will cost 95 cents less.

Fuel prices drop after 6 months

3 July 2019, 6:49 AM

Motorists have a reason to celebrate, the price of fuel has dropped by almost R1 a litre. It is the first time in six months that petrol prices have decreased.

Pump jacks operate at sunset in an oilfield in Midland

Oil mixed as OPEC cuts, US sanctions prop up prices

28 May 2019, 10:43 AM

Oil prices were mixed on Tuesday as supply cuts, led by producer club OPEC, and US sanctions on fuel exports from Iran and Venezuela supported crude, while concerns about an economic slowdown weighed on the market.

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