OPEC Archives

Global markets face disruption amid $17.3 trillion oil shock warning

cairo24x7.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

OPEC lowers 2024 global oil demand growth forecast by 106,000 b/d

cairo24x7.comOctober 15, 2024October 15, 2024

October 15, 2024October 15, 2024

OPEC has revised its 2024 global oil demand growth forecast down by 106,000 barrels per day, citing weaker-than-expected demand in non-OECD regions, impacting overall oil...

Business

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

cairo24x7.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...

Business

Saudi Arabia and OPEC+ allies agree to cut oil output by 1.16 million bpd

cairo24x7.comApril 2, 2023April 2, 2023

April 2, 2023April 2, 2023

Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day on Sunday, ahead of a virtual...

Business

Oil producers from OPEC and non-OPEC sign historic declaration

cairo24x7.comDecember 12, 2022

December 12, 2022

Ten non-OPEC oil-producing countries and OPEC Member Countries signed the Declaration of Cooperation (DoC) on 10 December 2022. At the OPEC Headquarters in Vienna, Austria,...

Business

UAE plays a crucial role in securing global energy supplies – OPEC

cairo24x7.comAugust 3, 2022

August 3, 2022

As one of the world’s largest oil producers, and considering future directions to increase energy productivity, Haitham Al Ghais, Secretary-General of the Organisation of the...