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.

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 ...

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 ...

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 ...

The meeting of top ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+, is scheduled for 1300 GMT on Monday, days after Trump called on OPEC and ...

Here’s a look at crude oil reserves and production around the world. Facts Crude oil is a form of liquid petroleum, extracted from rock formations and used for fuel and other purposes. Members of the ...

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 ...

Global oil markets will face a widening glut in 2026 as OPEC brings back production and output from the US, Canada and Guyana continues to grow, the US government said in its first set of ...

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 ...

U.S. President Donald Trump has raised the stakes for a meeting of an OPEC+ ministerial panel next month, with his call for the group to lower oil prices. Just days into his second term, Trump ...

Rigzone has contacted OPEC for comment on the SEB reports. At the time of writing, OPEC has not yet responded to Rigzone’s request. In a report sent to Rigzone last month by Standard Chartered ...