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Ahmad Ghaddar

FILE PHOTO: People walk past an installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) during the COP29 United Nations climate change conference in Baku, Azerbaijan November 19, 2024. REUTERS/Maxim Shemetov/File Photo
BusinessNewsOilPoliticsTrade

OPEC+ likely to stick to oil output hike plan, sources say

By Maha El Dahan, Ahmad Ghaddar and Olesya Astakhova LONDON (Reuters) -OPEC+ agreed to stick to its policy of gradually raising oil output...

FILE PHOTO: A general view of the commercial harbour of Syria's coastal city of Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
FuelLiquefied Petroleum GasNewsOilPoliticsTrade

Syria turns to intermediaries for oil imports after low interest in tenders, sources say

Syria's civil war decimated the country's energy industry and the new government faces an uphill battle to restore energy security.

FILE PHOTO: An employee fills the tank of a car with petrol at a gas station in Shanghai February 7, 2012.  REUTERS/Aly Song/File Photo
BusinessFuelNewsOil

Global diesel prices to rely on refinery closures for support in 2025

About 1 million barrels per day of refining capacity in Europe and the U.S. is expected to permanently shut down next year.

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
BusinessNewsOilPolitics

OPEC+ unlikely to change output policy at Oct. 2 panel meeting

Oil prices have fallen in 2024, pressured by concern about global demand and rising supply outside OPEC+.

FILE PHOTO: Tanker trucks are seen among oil tankers docked at the port of Tuxpan, in Veracruz state, Mexico April 22, 2020. REUTERS/Oscar Martinez/File Photo
AnalysisBusinessFinanceFuelIn-DepthOil

Global refiners face profit slump as new plants come online

Oil refiners in Asia, Europe and the United States are facing a drop in profitability to multi-year lows, following big returns post-pandemic

FILE PHOTO: A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/File Photo
EconomyFuelNewsOilPolitics

OPEC+ likely to proceed with planned output hike from October, sources say

OPEC+ is set to proceed with a planned oil output hike from October, six sources from the producer group told Reuters

A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/ File Photo
BusinessFuelNewsOilPoliticsTrade

OPEC+ likely to stick to output policy at Aug 1 JMMC meeting

OPEC+ is unlikely to alter its current production cuts despite falling oil prices, as discussed in an upcoming meeting.

FILE PHOTO: A view of the Phillips 66 Company's Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (background), at sunset in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File Photo
BusinessFuelNewsOilTrade

Oil trades in narrow range on OPEC+, sanctions and demand worries

Brent crude oil has been trading in a tight range of $75-$90 a barrel since late 2022 as OPEC+ cuts keep a floor...

FILE PHOTO: A view of the Phillips 66 Company's Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (background), at sunset in Carson, California, U.S., March 11, 2022. Picture taken with a drone. REUTERS/Bing Guan/File Photo
AnalysisAutomotiveBusinessFuelIn-DepthOilTransport

Analysis: Global gasoline refining margins slump on slow summer driving season

Oil refiners' profits are down as demand for U.S. gasoline is seasonally the lowest since 2021

FILE PHOTO: A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/File Photo
News

OPEC+ agrees extension of production cuts, sources say

OPEC+ poised to argue for deeper oil output cuts in 2024 and 2025.

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