The US Energy Information Administration or EIA stated in a latest update that OPEC members earned about $550 billion in crude oil export revenues in 2024, a 9%, or $55 billion (nominal $) decline ...

Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further reduce gas prices.

Oil prices eased on Tuesday after rising almost 2% in the previous session, as investors assessed new developments on U.S. tariffs and a higher-than-expected OPEC+ output hike for August.