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 increase in Iran and Venezuela’s crude output has been slowing lately, so I expect OPEC other 8 output to eventually slow to an annual rate of 200 kb/d or less by 2028. OPEC expects a bigger ...

OPEC explained that it was required for better reflection of the gap between supply from OPEC+ countries and non-OPEC+ nations. In particular, non-OPEC+ countries will boost oil supplies by 1.2 ...

By Rebecca F. Elliott Oil prices fell on Monday afternoon to their lowest level of the year after the OPEC oil cartel and its allies affirmed plans to gradually increase crude production beginning ...

Ron Bousso says that the outlook for oil demand is unlikely to change in the immediate term, which would likely discourage OPEC from starting the cut unwinding. In the long term, steady or slow ...

LONDON, March 3 (Reuters) - OPEC+ has decided to proceed with a planned April oil output increase, the group said on Monday, a move that follows U.S. President Donald Trump renewing pressure on ...

Other African OPEC members include Congo ... gaps in citizens’ access to clean cooking fuel and electricity. He explained that for Nigeria, gas is not just a transition fuel but a better ...

What is more important to the crude oil market? Which is more important: the growth forecasts by major agencies of Chinese oil ...

Mr Naimi believes oils floor is now around $60-70/B. I come to that decision by looking at what it takes to produce a barrel of alternative fuel, he explained. OPEC can be forgiven for adopting a ...