Based on a decision made by OPEC's ministerial meeting last summer, if the upper boundary of the price band of 22-28 d/b is broken for a sustained twenty day period, the organization will increase ...

Yet at $74 a barrel, prices remain too low for many OPEC members to cover government spending, and last week the group’s Secretary-General said its decisions will prioritize “the longer-term ...

The group includes the 12 members of OPEC, the longstanding group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations with Russia by far the ...

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 group includes the 12 members of OPEC, the long-standing group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations with Russia by far the ...

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 ...