Trump backs Venezuela staying in OPEC
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India's Russian oil imports fell to their lowest level in two years in December, as Western sanctions pushed refiners to tap alternatives, lifting OPEC's share of imports to an 11-month high, trade data showed.
Bringing Venezuela’s output under U.S. control has the potential to disrupt the power balance in the world market.
Four key Opec+ producers have pledged to deepen their compensation cuts in the first half of 2026 as the organization looks to improve compliance amid oversupplied oil markets.
Russian oil production dipped around 0.7% last year to 9.129 million barrels per day, OPEC monthly data showed on Wednesday.
The prospect of increased U.S. influence over Venezuela’s oil industry is raising questions about Washington’s potential future role in OPEC, the cartel of global oil producers that President Trump has often called on to lower crude prices.
VIENNA -- The Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday that the global oil demand for 2027 is estimated to be 107.86 million barrels per day (bpd), higher than the level of 2026.
OPEC on Wednesday said world oil demand would rise at a similar pace in 2027 as this year and published data indicating a near balance between supply and demand in 2026, contrasting with other forecasts of a major glut.
Nigeria’s crude oil production edged lower to 1.422 million bpd in December 2025, from 1.436 million bpd in November, according to
The World’s September oil production increased by 737 kb/d to 86,033 kb/d, a new World Peak Oil All Time High. Read more here.
OilPrice.com on MSN
Trump's Venezuela gambit could erode OPEC's clout in oil markets
Rising oil output from the Americas and potential U.S. control over Venezuela's reserves threaten to weaken OPEC's influence on global oil supply and pricing.
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