Organisation: OPEC

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>Supplies resuming from Libya resulted in another sharp price drop last week.</p>

columnists

John Whelan: Just how low could oil prices go?

Given Ireland’s dependence on crude imports, the country's economy will be boosted by a drop in oil prices and falling transport costs

<p>The forecasts imply limited downside for crude oil prices in the second half of the year.</p>

economy

Crude oil price spikes to $83.25 a barrel amid global stock decline

<p>Some market watchers had expected Opec+ to extend cuts through to the end of the year, and reaction to Sunday’s deal was mixed. </p>

economy

Oil price slides to $77.25 a barrel despite pledges of output cuts

economy

Crude oil prices fall this week but wholesale gas increases

economy

Two carbon air capture projects spark climate change divisions

economy

Crude oil hovers at $80 a barrel as Opec+ prepares to meet

Oil prices dip ahead of Biden visit to Israel

Fears that conflict in the Middle East could widen

Tue, 17 Oct, 2023

Opec boosts oil demand forecast to 2045 despite climate crisis

This summer was likely humanity’s hottest yet, bringing deadly heat waves to India, Greece, the US, and Japan

Mon, 09 Oct, 2023

Crude oil price rises to over $77 a barrel after Saudi output cut

The voluntary cut is on top of a broader deal by Opec and allies, including Russia, to limit supply into 2024.

Mon, 05 Jun, 2023

Thirst for crude oil puts $100 a barrel back into view

Even as the world embraces cleaner sources of energy, the thirst for oil is hard to slake, with countries such as India and China consuming more oil as borders reopen.

Sun, 05 Mar, 2023

Oil price up as UAE denies it wants to leave Opec

A media report that the United Arab Emirates had held internal debates on leaving Opec was "far from the truth", according to a source.

Fri, 03 Mar, 2023

Goldman Sachs sees oil price rising to $110 a barrel as Opec+ cuts output

US President Joe Biden's administration criticised the Opec+ cut as "shortsighted"

Thu, 06 Oct, 2022

Kuwait Promises To Increase Oil Production In Case Of War

How much longer can we tolerate this price-gouging racket of an energy sector?

We are all footing the bill of a crooked system that drains our bank balances and heats the planet, writes Damian Carrington

Thu, 25 Aug, 2022

Oil price heads higher again due to uptick in demand

'Natural gas and electricity prices have soared to new records, incentivising gas-to-oil switching in some countries,' says IEA

Thu, 11 Aug, 2022

Opec set to stick to oil supply plan despite EU moving towards Russian ban

Despite cajoling from the US, Riyadh and Abu Dhabi have remained unmoved, with only relatively small increases in production predicted.

Fri, 29 Apr, 2022

Irish Examiner view: We do not want to see the return of queues at forecourts

Capping petrol and diesel prices will not work and could lead to a shortage of supply, with resulting queues.

Fri, 11 Mar, 2022

Fall in European wholesale gas prices may ease pressure on Irish energy bills

Significant rise in gas flow from Russia, warmer weather, and increasing supply from renewables could drive prices down

Tue, 01 Feb, 2022

Oil rises as the market's fears over Omicron begin to ebb

Brent crude up to almost $70 a barrel as Opec+ continues to gradually boost output

Thu, 02 Dec, 2021

Oil price at under $82 a barrel ahead of key meeting next week

The Organisation of the Petroleum Exporting Countries, Russia and allies, together called Opec+, will meet on December 1-2 to set policy

Thu, 25 Nov, 2021

Energy prices predicted to stay elevated despite Met forecasts for mild winter

The ECB has said that inflation across the eurozone will be transitory and will not trigger a rise in its official interest rates

Wed, 24 Nov, 2021

New oil price surge fuels fresh inflation fears

Citi raised its Brent price estimate for this quarter to $85 a barrel, potentially increasing to as high as $90 at times.

Mon, 11 Oct, 2021

Oil prices follow gas adding to global energy crunch

Oil prices rose again and are now more than 4% up on the week, as a global energy crunch has boosted prices to their highest for years and prompted China to demand increased coal production.

Fri, 08 Oct, 2021

Crude oil price trades close to $82 a barrel for new seven-year high

Russian President Vladimir Putin has blamed the transition to green energy and low investment in the extraction industries for what he said were "hysteria and some confusion" on European markets where energy prices are surging

Tue, 05 Oct, 2021

Paul Deane: How agriculture could fuel Ireland's journey towards energy independence

There's no fast track to sustainability — but we can take steps now to quit being a mere bystander in global energy markets

Sun, 01 Aug, 2021

Oil price tumbles 6% on new supply and surge in Delta variant cases

Oil prices dropped by more than $4 a barrel after Opec and allies agreed to boost output, stocking fears of a surplus as rising Covid infections in many countries threaten demand

Mon, 19 Jul, 2021

Oil surges to $70 a barrel on strong demand hopes

Prices firmed up today and are expected to stay elevated despite the possible return of Iranian crude to world markets

Mon, 31 May, 2021

Global oil prices resume rise on US and China outlook

China's service sector has gathered steam with the sharpest increase in sales in three months

Tue, 06 Apr, 2021

Global oil price gushes signaling higher household bills

It takes about two weeks of sustained crude oil price hikes to show up in higher distilled prices at the pump in Ireland and a little longer for energy bills

Fri, 05 Mar, 2021

U.S. Oil Industry Prioritizes Output Over Debt

Why Covid-19 will become Big Oil’s 'asteroid strike'

While the pandemic will hopefully subside, the pre-existing threat from the shift away from carbon-based fuels won’t

Sun, 11 Oct, 2020

Resurgent Covid-19 hits price of oil as Shell counts the costs in billions

The outbreak of new Covid-19 cases in the US has re-ignited investors fears of a prolonged slump in global demand, sending the price of oil sharply lower, as giant Shell counted the costs in billions of the pandemic crisis.

Tue, 30 Jun, 2020

Shares drive ahead amid hopes for lifting of Covid-19 global lock downs

World shares forged ahead and oil prices also drove higher as well, as investors shrugged off Chinese-US tensions to focus on more stimulus in China and a re-opening world economy.

Tue, 26 May, 2020

No fuel price reductions likely at the pumps

With oil dropping below $18 a barrel in New York yesterday, eager Irish diesel and petrol vehicle owners will have their eyes on the pumps in their local filling stations over the next two weeks.

Fri, 17 Apr, 2020

Global deal to cut oil output in sight after Mexico signs up

Opec and nations including Russia have agreed to boost oil prices by cutting as much as 10 million barrels a day in production.

Fri, 10 Apr, 2020

Oil price up but trades at low level of $27 a barrel

The price of oil has risen from its lowest level in 18 years as Middle East producers show signs of strain and the US gears up to fill its emergency reserves.

Thu, 19 Mar, 2020

Tullow Oil shares crash 30% on oil price volatility

Tullow Oil shares tanked by over 30% as the Irish-founded exploration company admitted that oil price volatility could put its future in doubt.

Thu, 12 Mar, 2020

Julian Lee and Tyler Cowen: Producers in panic as coronavirus to infect global oil prices

The new coronavirus will take a chunk out of China's oil demand. Producers must respond with an output cut.

Tue, 04 Feb, 2020

Crude oil predicted to hit $70 next year

Crude oil prices will rise to $70 a barrel next year, a leading consultancy predicts.

Wed, 09 Oct, 2019

Oil price and shares of Big Oil rise as UK-Iran tension simmers over tanker seizures

The tension between the UK and Iran over the seizures of oil tankers in recent weeks pushed the price of oil higher, and helped boost the shares of major oil companies.

Mon, 22 Jul, 2019

Oil price focus as UK-Iran tit-for-tat tanker seizure spat gets serious

The price of Brent crude jumped 2% to over $63.20 a barrel and any further escalation could send prices higher.

Sun, 21 Jul, 2019

Oil price climbs 2% on prospect of Opec cuts

Opec agreed to extend oil supply cuts until March 2020, three sources said, as the group’s members overcame their differences in order to prop up the price of crude amid a weakening global economy and soaring US production.

Tue, 02 Jul, 2019

Oil up 5% on US-Iran tension

Oil soared more than 5% higher yesterday after Iran shot down a US military drone, raising fears of a military confrontation between Tehran and Washington.

Fri, 21 Jun, 2019

Oil up on trade tension easing

Oil prices rose more than $1 a barrel yesterday, after US President Donald Trump said he would hold an extensive meeting with Chinese President Xi Jinping at the G20 summit later on this month.

Wed, 19 Jun, 2019

No change likely in oil price levels, says bank

Crude oil prices are likely to remain steady around current levels, as growing macro uncertainties, rising US output, and large availability of core Opec nations’ spare capacity will offset supply constraints from Iran and Venezuela, according to Goldman Sachs.

Tue, 04 Jun, 2019

Petrol prices hit six-month high

According to the AA’s analysis, the national average cost of a litre of petrol currently sits at 146.1c, up almost 4c from an average price of 142.3c last month.

Mon, 03 Jun, 2019

Opec holds off on oil output decision

Saudi Arabia’s energy minister Khalid al-Falih has recommended “gently” driving oil inventories down at a time of plentiful global supplies, saying that Opec would not make hasty decisions about output ahead of its June meeting.

Mon, 20 May, 2019

Crude oil price falls as pipeline repair boosts supply

The price of crude oil declined after topping $72 a barrel last week as a key Russian pipeline began resuming shipments and global oil flows appeared undisturbed days before tougher US sanctions against Iran kick in.

Mon, 29 Apr, 2019

Oil price caps best week since 2017

Crude posted the longest weekly winning streak since November 2017, amid concerns over supply shortfalls from countries like Venezuela and optimism over US-China trade talks.

Sat, 06 Apr, 2019

Oil price gushes towards $70 a barrel

Grant Smith The price of crude oil rose to almost $70 a barrel, a level last breached in November, as global crude supplies tightened, while hopes for an end to the US-China trade impasse lifted financial markets.

Thu, 04 Apr, 2019

Oil price gushes 28% as quarter set for 10-year high

Oil headed for its best quarter in almost 10 years as the production cuts by Opec and its allies and the loss of barrels due to US sanctions on Iran and Venezuela countered a wobbly demand outlook.

Sat, 30 Mar, 2019

Boeing and May's Brexit woes weigh on financial markets

Boeing and Brexit vied for attention on global financial markets, as sterling slumped as the political woes of UK prime minister Theresa May appeared to deepen, while the planemaker’s shares came under renewed pressure after countries closed airspace to the 737 Max.

Tue, 12 Mar, 2019