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The latest verified economic news, official data and analysis on OPEC, from The Edge for Economic Consultancy.
IMF · Jun 9, 2026 · 6 min read
Saudi Arabia's economy maintained positive momentum in the first quarter of 2026, with real gross domestic product growing by 2.8% compared with…
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Geopolitics · Jun 8, 2026 · 6 min read
Oil prices surged sharply on Monday as renewed tensions in the Middle East revived fears of potential disruption to global energy flows…
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International Organizations · Jun 7, 2026 · 5 min read
Seven key OPEC+ producers have agreed to raise their oil production target by a combined 188,000 barrels per day starting in July…
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Energy & Commodities · Jun 4, 2026 · 7 min read
Kuwait Petroleum Corporation signals crude production could recover to nearly 70% of normal levels within 6–8 weeks of the Strait of Hormuz…
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Oil prices extended their decline on Friday, 12 June 2026, as the United States and Iran moved closer to an agreement that would reopen the Strait of Hormuz to commercial shipping, unwinding the geopolitical risk premium that has dominated energy markets for months. Brent crude futures fell $1.21, or about 1.3 percent, to about $89.17…
OPEC has lowered its forecast for global oil demand growth in 2026 to 970,000 barrels per day, down from 1.17 million b/d in last month’s assessment, according to the organisation’s Monthly Oil Market Report published on Thursday, 11 June 2026. It is the second consecutive monthly downgrade, taking the projection below the one million barrel…
Saudi Arabia’s economy maintained positive momentum in the first quarter of 2026, with real gross domestic product growing by 2.8% compared with the same quarter of 2025, according to flash estimates released by the General Authority for Statistics. The expansion was supported by growth across all main economic activities. Non oil activities increased by 2.8%…
Oil prices surged sharply on Monday as renewed tensions in the Middle East revived fears of potential disruption to global energy flows through one of the world’s most critical oil transit corridors. Brent crude moved close to US$98 per barrel, while West Texas Intermediate traded near US$95 per barrel, with both benchmarks rising by nearly…
Seven key OPEC+ producers have agreed to raise their oil production target by a combined 188,000 barrels per day starting in July 2026, extending the alliance’s gradual effort to unwind voluntary production cuts while maintaining a cautious stance toward market stability. The adjustment was agreed by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman…
Kuwait Petroleum Corporation signals crude production could recover to nearly 70% of normal levels within 6–8 weeks of the Strait of Hormuz reopening, with refinery output returning in 2–3 weeks. The phased recovery underscores Kuwait’s operational readiness and its role as a reliable Gulf supplier, supported by 1.4 mb/d refining capacity and the Strategy 2040 target of 4.0 mb/d crude.