OPEC said on Tuesday it was limiting the number of OPEC and non-OPEC delegates attending the producer organisation's policy meeting on March 5 and 6 to a bare minimum, in light of the coronavirus ...

The Organization of the Petroleum Exporting Countries (OPEC) and its oil-exporting allies announced a 2 million barrel per day cut in oil production Wednesday, bucking months of pressure from … ...

With the cut, OPEC's production will drop by 1.2 million barrels daily to 32.5 million barrels. The deal takes effect at the start of 2017.

OPEC was formed by five petroleum-rich countries in 1960. At the time, the global oil market was dominated by a group of multinational, Anglo-American companies known as the “Seven Sisters.” ...

OPEC has been replaced by OPEC+, a loose organization of 24 oil producing nations -- led by Saudi Arabia and Russia -- that is redefining the cartel's role in global crude markets.

OPEC agrees to keep oil production cut, likely maintaining high prices through November election Saudi Arabia has ambitions to diversity its economy away from fossil fuel exports ...

OPEC, the once powerful oil cartel, is struggling to hold the line in a make-or-break fight to limit oil production, prop up crippling low prices and prove its relevance. Why? Its members are ...

OPEC’s unwillingness to limit its oil output could help usher in a sustained period of low prices and more pain for its members’ budgets, the International Energy Agency said Tuesday. The ...

Today was one of those days when it’s easy to get fooled into thinking OPEC still matters. I mean, it matters a little: It made oil prices jump 5 percent today simply by hinting at less of a ...

The Organization of the Petroleum Exporting Countries (OPEC) consists of the major oil-exporting nations. Read about OPEC’s impact on oil supply and prices.

The group confirmed its decision to restore production to about 44 million barrels a day. But difficult questions remain about its relationships with Russia and the United States.