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 ...

Oil prices are forecasted to face a glut in 2026, forcing OPEC+ to maintain production cuts against global supply and ...

Crude oil futures slumped to near multi-year lows after the Organisation of the Petroleum Exporting Countries (OPEC) and its allies announced a larger-than-expected production increase on Thursday, ...

LONDON/MOSCOW, Dec 2 (Reuters) - OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets ...

The Organisation of the Petroleum Exporting Countries (OPEC) stands as one of the most influential international organisations in the global economy, wielding enormous power over world energy markets ...

Iran called on its OPEC peers to take united action against harsher enforcement of U.S. sanctions. Iran's weak position within OPEC and the broader Middle East makes stringent measures against the U.S ...

'The decision ... formally paves the way for the participation of Brazil as a Member of the Charter of Cooperation between oil producing countries', OPEC highlighted. Image by gladder via iStock In a ...

VIENNA—OPEC members are inching toward a compromise that could lead them to cut oil supply, as the producer group this week prepares for one of its most closely watched meetings in years. Saudi Arabia ...

LONDON, Nov 30 (Reuters) - OPEC oil output rose for a fifth month in November, a Reuters survey found, as increased Libyan production offset full adherence by other producers to cuts agreed in an OPEC ...