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.

Eight OPEC+ members that are making the group's most recent layer of output cuts held a virtual meeting on Monday and agreed to proceed with the April increase, OPEC said. The increase is 138,000 ...

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 ...

OPEC+, a group that includes OPEC and allied producers led by Russia, and which pumps over 40% of the world's oil, is scheduled to raise output by 135,000 barrels per day in May. Sign up here.

During the height of the pandemic, then-President Donald Trump asked OPEC to decrease production after oil prices had cratered to increase prices to benefit U.S. oil companies. After oil ...

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 ...

On January 23, US President Donald Trump said he will pressure Saudi Arabia and OPEC to decrease oil prices. Trump was ...

Oil prices fell sharply on Monday, reaching their lowest levels in 2025, following the unexpected decision by OPEC+ to restart some of its previously halted production. WTI crude fell 2% to settle ...

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 ...

Since last year, OPEC Plus has signaled its intention to pump more oil, but doing so now in the midst of turbulence from a trade war between the United States and various partners surprised some ...

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 ...