OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels. Founded on Sep ...

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.

The OPEC+ alliance, which includes not only OPEC members but other major producers including Russia, have been constraining their combined output since 2020. Currently, their collective production ...

OPEC may have a problem with that ... helped significantly by pandemic demand destruction since it happened in spring 2020. That price war ended by setting the stage for the creation of OPEC+.

Iran’s President Masoud Pezeshkian urged OPEC members to unite against possible US sanctions on the major oil producer after US President Donald Trump said he would seek to drive Tehran’s oil ...

OPEC production is covered in a separate post ... Peak production in the Big 3 occurred in April 2020 at a rate of 34,739 kb/d. The peak was associated with a large production increase from ...

LONDON, March 5 (Reuters) - OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output ...

Kazakhstan hiked February output to record high, source says OPEC+ to boost output by 138,000 bpd in April Trump wants OPEC to produce more oil DUBAI/MOSCOW/LONDON, March 4 (Reuters) - As OPEC+ ...

MOSCOW, November 11. /TASS/. World commercial oil reserves by April 2020 went up by more than 1 bln barrels due to falling demand amid the pandemic, the OPEC + cuts in oil production have slowed ...

United Arab Emirates Energy Minister Suhail Al Mazrouei said on Wednesday he expects Trump to take a pragmatic approach towards Opec, noting the president’s co-operation with the group’s efforts to ...

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