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 ...

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.

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 ...

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+ members committed to unwinding oil production curbs starting in April. The oil cartel has held back supply in an effort to boost crude prices globally. The April timeline is surprising ...

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 ...