In 2021, OPEC estimated that 80% of the world’s proven crude oil reserves were located in member countries, which thus stand to benefit from higher prices. This dynamic has led many economists ...

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

OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to ...