A key player in the oil industry and central to producer-consumer relations, the Organization of the Petroleum Exporting Countries (OPEC) was formed by major oil exporters to stabilize prices and ...

OPEC-Plus’s plan to hike production by 411,000 barrels of oil per day in July comes after its recent daily increases totaling 530,000 barrels for the purpose of curbing American production and giving ...

The U.S. Energy Information Administration forecasts non-OPEC crude oil production to increase by 1.8 million barrels per day this year. OPEC+ has maintained output cuts for three years, reducing its ...

On the eve of a contentious OPEC meeting in the 1980s, one of the cartel’s top officials penned a poem that caused quite a ...

MOSCOW (Reuters) - Kazakhstan contributed more than a half of overall OPEC+ oil production rise in February, lagging behind its pledges to reduce production, OPEC data showed on Wednesday. Kazakhstan ...

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 above ...

OPEC is pursuing a long-term strategy to increase its market share and is unwinding production cuts, with oil prices remaining strong due to factors beyond OPEC's direct control. The rise in oil ...

The sun begins to set behind crude oil tanks and a pumpjack Tuesday, July 5, 2022 in Midland, Texas. (Odessa American/Eli Hartman) The global oil market just got something of a double boost from a ...

LONDON, July 15 (Reuters) - OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries' crude intake would remain elevated to ...

Output for March 2025 was revised higher by 2 kb/d and April 2025 output was revised higher by 128 kb/d compared to last month’s report. Demand for 2024, 2025 and 2026 have all been revised higher by ...