OPEC initially began with five countries, which are Iran, Iraq, Venezuela, Saudi Arabia, and Kuwait, to end the dominance of the so-called ‘seven sisters’ Western oil companies and maintain stable oil ...

Some members such as the United Arab Emirates have increased their capacity and would like higher production targets, while ...

The Opec Fund for International Development (Opec Fund) has approved $600 million to support 15 new development projects across Africa, Asia, the Pacific, Latin America and the Caribbean. The ...

OPEC+ left early-2025 production targets unchanged but approved a major new mechanism to reassess each member’s maximum ...

A study by Reuters revealed on Thursday that OPEC's production declined in November, despite an OPEC+ agreement to increase ...

For now, Brazil’s rebound from November’s outages and OPEC’s steady outlook offer opposing snapshots of a market in flux, one ...

Opec+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings yesterday as the group slows ...

The purpose of OPEC is to “coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply ...

OPEC output dipped in November despite planned increases, as outages in Nigeria and Iraq limited production gains.

Opec and its allies are expected to keep production flat at their meeting this weekend as oil exports globally surge. After ...

The Organisation of Petroleum Exporting Countries (OPEC) has maintained Nigeria’s oil production quota of 1.5 million barrels ...