OPEC initially began with five countries, which are Iran, Iraq, Venezuela, Saudi Arabia, and Kuwait, to end the dominance of the so-called ‘seven sisters’ Western oil companies and maintain stable oil ...

By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW, Dec 2 (Reuters) - OPEC+ members will undergo an annual ...

OPEC+ left early-2025 production targets unchanged but approved a major new mechanism to reassess each member’s maximum ...

Crude oil futures slumped to near multi-year lows after the Organisation of the Petroleum Exporting Countries (OPEC) and its allies announced a larger-than-expected production increase on Thursday, ...

The purpose of OPEC is to “coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply ...

A study by Reuters revealed on Thursday that OPEC's production declined in November, despite an OPEC+ agreement to increase ...

For now, Brazil’s rebound from November’s outages and OPEC’s steady outlook offer opposing snapshots of a market in flux, one ...

Opec+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings yesterday as the group slows down its push to regain market share amid fears of a looming supply glut.

OPEC output dipped in November despite planned increases, as outages in Nigeria and Iraq limited production gains.

Global oil markets are again showing the impact of emotions and misinterpretation. The so-called surprise production increase taken by eight (8) leading members of OPEC is, in principle, not relevant ...

VIENNA—OPEC members are inching toward a compromise that could lead them to cut oil supply, as the producer group this week prepares for one of its most closely watched meetings in years. Saudi Arabia ...