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Tag: Oil Production

OPEC+ set for another oil production hike
Latest
  • Reuters
  • October 3, 2025
OPEC+ set for another oil production hike

Saudi Arabia would prefer to see double, triple or even quadruple that figure – 274,000 bpd, 411,000 bpd or 548,000 bpd respectively, as it has the ability to ramp up production quickly and wants to grow market share, the sources said.

Key OPEC+ members to boost oil production next month
Latest
  • AFP
  • September 7, 2025
Key OPEC+ members to boost oil production next month

Oil ministers in the V8 grouping — comprising Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman — decided to increase daily production by 137,000 barrels a day from next month, they said in a statement.

OPEC
Latest
  • Reuters
  • July 5, 2025
OPEC+ to hike oil output to 548,000 bpd in August

The group, which pumps about half of the world’s oil, has been curtailing production since 2022 to support the market.

OMC sales
  • WEB DESK
  • June 1, 2025
Price of petrol raised by Rs1 before Eid

The new cost of petrol price in Pakistan is now Rs253.63 per litre.

oil prices in global market
Latest
  • AFP
  • May 31, 2025
OPEC+ announces sharp increase in July oil production

Group will produce an additional 411,000 barrels a day — the same target set for May and then June

US crude oil prices decline below $66 a barrel
Latest
  • WEB DESK
  • September 11, 2024
US crude oil prices decline below $66 a barrel

This marks a decrease of over $3.

oil prices
Latest
  • WEB DESK
  • July 1, 2024
OGDCL ramps up oil and gas production at Nashpa-4 well in KP

OGDCL has successfully revitalised the Nashpa-4 well in Khyber Pakhtunkhwa, significantly enhancing its production capacity.

OPEC+
  • Zafar Ali
  • June 2, 2024
OPEC+ extends deep oil production cuts into 2025

OPEC will spend one year on gradually phasing out cuts of 2.2 million bpd starting from October 2024 until the end of September 2025

Saudi Arabia’s recent indications of a potential increase in oil production and market share sent global oil futures plummeting more than 3%
Latest
  • WEB DESK
  • November 6, 2023
Saudi Arabia to continue oil production cut

It has been stated in the media reports that the cut decision will be reviewed next month to consider whether to continue the voluntary cut, increase the cut or increase production.

Russia oil cut
  • Zafar Ali
  • November 5, 2023
Russia to continue voluntary cut of oil until year-end

Russia will continue the additional voluntary supply cut of 300,000 barrels per day from its crude oil and petroleum product exports

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  • WEB DESK
  • July 30, 2026
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