Discover how OPEC, the global oil cartel, influences oil prices and production in 2024. Learn about its member nations, history, challenges, and current strategies.

Many groups, including the International Energy Agency, predict that the world’s peak oil production is close, and global oil demand will drop starting in the next decade as more renewables come ...

LONDON, July 15 (Reuters) - OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries' crude intake would remain elevated to ...

OPEC increased its global oil demand growth estimate for 2026 to 1.38 million barrels per day, citing stronger economic performance in key regions. The cartel also revised down its forecast for ...

The world needs $18.2 trillion in oil and gas investments through 2050 to ensure energy supply by the middle of the century, OPEC Secretary General Haitham Al Ghais has told Energy Connects in an ...

LONDON, Aug 12 (Reuters) - OPEC on Tuesday raised its global oil demand forecast for next year and trimmed its estimate for growth in supply from the United States and other producers outside the ...

Eight producers, led by Saudi Arabia, will continue boosting production despite forecasts that supply will soon exceed demand. By Stanley Reed Eight countries that belong to the oil cartel known as ...

The world needs more investment in oil and gas as they will continue to account for a large part of the global energy mix in 2050, OPEC Secretary General Haitham Al Ghais said on Wednesday, ...

LONDON (Reuters) -World oil supply is expected to closely match demand next year as the wider OPEC+ group increases production, an OPEC report showed on Monday, marking a change from last month's ...

OPEC 12 output for May 2025 was revised up by 34 kb/d, and June 2025 output was revised higher by 46 kb/d compared to last month’s report. The World liquids demand forecast for 2025 is unchanged from ...