In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.
OPEC, or the Organization of the Petroleum Exporting Countries, serves as an organizing body of the world's largest producers of oil. Its purpose, per its website, is to "coordinate and unify the ...
September 27, 2016. Oil prices rose modestly ahead of a meeting of producers from the Organization of the Petroleum Exporting Countries (OPEC) cartel and Russia in Algeria on September 28 that ...
Saul Kavonic of MST Marquee discusses how U.S. tariffs strengthen OPEC's hand. He believes the producer group will keep ...
U.S. President Donald Trump will reimpose "maximum pressure" on Iran and drive its oil exports down to zero, a U.S. official ...
LONDON, Jan 15 (Reuters) - OPEC forecast on Wednesday world oil demand in 2026 will rise at a similar rate to this year, while reducing its figure for 2024 for a sixth time, following economic ...
A U.S. official stated on Tuesday that U.S. president Donald Trump would restore his "maximum-pressure" campaign against Iran ...
Trump urged OPEC to cut oil prices to help end the Russia-Ukraine war and drive down interest rates. Despite Trump’s request, OPEC+ is unlikely to alter its production plans. Standard Chartered ...
The problem is that OPEC and other experts are far from a consensus despite being five months into 2024. Indeed, OPEC and the IEA can't even agree on the pace of demand in the first quarter ...
OPEC’s crude production dipped last month as the United Arab Emirates stepped up implementation of supply cutbacks aimed at buoying global oil markets. Output from the Organization of Petroleum ...
Large field in central Iraq Estimated output of 5,000bpd Pressure to comply with Opec Iraq has announced the discovery of a massive oil field expected to significantly increase the ...
OPEC's total spare capacity is 5.3 million bpd, of which 3.1 million bpd is held by Saudi Arabia, 1.1 million bpd by the UAE, ...
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