OPEC Archives

Global markets face disruption amid $17.3 trillion oil shock warning

kuwait-live.comJanuary 6, 2026January 7, 2026

January 6, 2026January 7, 2026

CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital...

Business

US crude stockpile surge and OPEC+ supply hike push Brent down 3%

kuwait-live.comMarch 5, 2025March 5, 2025

March 5, 2025March 5, 2025

Brent crude prices declined nearly 3% on Wednesday, rebounding slightly from a three-year low as U.S. crude stockpiles rose more than expected, adding pressure on...

Business

Crude extends gains amid OPEC+ uncertainty and weaker U.S. dollar

kuwait-live.comFebruary 21, 2025February 21, 2025

February 21, 2025February 21, 2025

Oil prices continued their upward trend, settling above $72 per barrel amid ongoing supply uncertainty and a weak dollar, which made dollar-denominated commodities more attractive to...

Oil prices rise to highest levels since October on tightening US stockpiles

kuwait-live.comJanuary 3, 2025January 3, 2025

January 3, 2025January 3, 2025

Oil prices surged in the first trading session of 2025, marking the highest levels since October, as U.S. crude stockpiles registered another decline and technical...

Business

Saudi Arabia’s non-oil economy grows 4.9% in second quarter of 2024

kuwait-live.comSeptember 9, 2024September 9, 2024

September 9, 2024September 9, 2024

MENA Newswire News Desk: Saudi Arabia’s non-oil activities surged by 4.9% year-on-year in the second quarter of 2024, propelled by robust growth in the financial and...

Business

OPEC secretary general advocates for integrated energy approach

kuwait-live.comAugust 22, 2024August 22, 2024

August 22, 2024August 22, 2024

In a statement released Wednesday, Haitham Al Ghais, the Secretary-General of OPEC, addressed common misconceptions about the competition between oil and electrification, emphasizing the collaborative...

Business

UAE economy shows robust growth in non-oil sectors

kuwait-live.comAugust 13, 2024August 13, 2024

August 13, 2024August 13, 2024

The United Arab Emirates is experiencing continued growth in key economic sectors, according to the latest report from the Organisation of the Petroleum Exporting Countries...

Business

OPEC predicts 2.25 million bpd surge in global oil demand

kuwait-live.comApril 11, 2024April 11, 2024

April 11, 2024April 11, 2024

The Organisation of the Petroleum Exporting Countries (OPEC) announced Thursday that it anticipates a surge in world oil demand, projecting an increase of 2.25 million...

Business

Global oil dynamics shift as OPEC+ agrees on 2 million bpd cut

kuwait-live.comNovember 30, 2023November 30, 2023

November 30, 2023November 30, 2023

In a pivotal move, OPEC+ members, responsible for over 40% of global oil supply, have agreed to substantial voluntary production cuts for early next year....

Business

Egypt partners with global energy companies in $1.8 billion offshore exploration initiative

kuwait-live.comJuly 5, 2023July 5, 2023

July 5, 2023July 5, 2023

Tarek El Molla, the Minister of Petroleum and Mineral Resources of Egypt, unveiled his country's ambitious plan to invest $1.8 billion in offshore exploration for...