The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday affirmed its growth outlook for oil demand and overall economic expansion over the next two years.

While former President Joe Biden wasn’t the first president to use the Strategic Petroleum Reserve for political reasons, he drained it more than any president before him. The frequent draws and ...

The cartel still expects demand to grow by 1.45 million barrels a day this year and 1.43 million barrels a day the next, ...

Oil prices fell on Monday afternoon to their lowest level of the year after the OPEC oil cartel and its allies affirmed plans ...

A worst-case scenario for the West would be if OPEC members embargo oil exports to the U.S. and its key allies. Iran called on all members of the OPEC oil cartel last week to take united action ...

The international benchmark fell to its lowest point since 2021 after a decision by Saudi Arabia and other producers to pump ...

He who cannot change the very fabric of his thought will never be able to change reality. —Anwar Sadat, Former President of ...

Canada took over the presidency from Italy in 2025. The G7 was founded following the 1973 OPEC oil embargo as a forum for the richest nations to discuss crises affecting the world economy.

Stagflation may be set for its first real return to the U.S. in about 50 years, as recent economic numbers point to a slowing ...

The increase in oil output comes as President Trump has called on OPEC countries to “cut the price of oil.” The Trump administration has repeatedly engaged with Saudi Arabia. The president’s ...

Oil was trading 2% lower towards $71 a barrel at 1900 GMT. Eight OPEC+ members that are making the group's most recent layer of output cuts held a virtual meeting on Monday and agreed to proceed ...