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.

LONDON, Feb 12 (Reuters) - OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential ...

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 ...

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 ...