Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in ...

Should the cartel opt to pump still more, however, prices could drop below $50, at which point members may revolt. And OPEC + remains far from recovering its market power.

Angola quits OPEC ’Cartel not serving country’s interest’ Angola, a leading African oil producer said it would leave the Organisation of Petroleum Exporting Countries (OPEC).

NEWS Angola will leave oil cartel OPEC, following a dispute over oil production quotas. The nation’s oil output has been sinking in recent years, and OPEC requested it cut its exports to 1.1 ...

Angola announced Thursday that it's leaving the OPEC oil producers cartel, coming after it battled with the group over lower production quotas this year. Diamantino de Azevedo, the African nation ...

By AFP Published December 21, 2023 The expansion of OPEC has proved to be a double-edged sword for the cartel as it means decision-making has become more difficult, according to Swissquote analyst ...

Angola - which had been an Opec member for 16 years - is not the first country to leave the cartel. Ecuador, Indonesia and Qatar have all done the same.

As delegates at the 2023 COP28 UN climate change summit work to identify global climate actions by the Dec. 12 deadline, the head of the OPEC oil cartel urged the group’s members to block any ...

OPEC officials say that peak won’t come until 2045. But cartel countries can already see how slowing demand is hurting their prices and profits. They are trying to keep prices from collapsing ...

That "cartel", as some describe it, is OPEC (Organization of the Petroleum Exporting Countries). It was first formed in 1960 in Baghdad, Iraq, as a challenge to Western dominance.

Reporting on Opec has, however, taken a deeply sour turn, with the banning of several journalists from covering this weekend’s meeting. This is an embarrassment for the group.