Is Opec just talking up the market again?
A deal is likelier now than it was before, but hurdles remain
Opec sent oil markets into a flutter in mid-August when it announced yet another informal meeting, which could result in a group-wide deal to freeze oil output. The group will meet in Algiers in late September, on the sidelines of the International Energy Forum, to discuss whether a coordinated freeze, or even cut, could be agreed across the producing group. Alexander Novak, Russia's energy minister, also suggested that the country might join the negotiating table in Algeria. Brent prices immediately strengthened, even breaching $50/b on 18 August for the first time since the beginning of July. Mohammed Bin Saleh al-Sada, Qatar's oil minister and Opec president, released a statement confiden
Also in this section
21 January 2026
Petroleum Economist takes a look at the critical developments that look set to govern the course of the market for this year
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
