OPEC
OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization oil demand supply market upstream downstream Vienna Austria
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February 09,2020An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of the coronavirus on oil demand,... -
January 31,2020A coronavirus-triggered 10% fall in crude oil prices over the last two weeks has shaken some OPEC countries --- including kingpin Saudi Arabia --- to the realization that waiting until March 5-6,...
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January 18,2020Worldwide oil demand forecasts may be lower than in previous years, but OPEC Secretary-General Mohammed Barkindo said Friday to CNBC that demand growth is still “robust” and could surprise to the...
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December 06,2019OPEC and its allies (OPEC+ including Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, South Sudan and Sudan) led by Russia agreed to cut output by an additional 500,000 barrels per...
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November 26,2019OPEC countries, which are meeting next week to discuss their level of oil output, should make the right decision for the global economy, which remains “very fragile”, the head of the International...
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November 22,2019OPEC and its Russia-led non-OPEC partners in the production cut deal may roll over in early December the current cuts into June 2020, as Russia will likely support the organization’s efforts to...
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November 15,2019The Organization of Petroleum Exporting Countries and its allies face stiffening competition in 2020, the International Energy Agency said Friday, adding urgency to the oil producer group’s policy...
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November 04,2019Oil Minister Bijan Namdar Zanganeh was quoted as saying Monday that he expects further production cuts to be announced at the next meeting of the Organization of the Petroleum Exporting Countries...
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October 19,2019The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December. That is the inescapable conclusion from the latest round of monthly reports published by the three...
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October 11,2019OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas...
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October 04,2019The secretaries general of the Organization of the Petroleum Exporting Countries and the Gas Exporting Countries Forum (GECF) signed a Memorandum of Understanding to strengthen cooperation in...
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October 02,2019Ecuador said Tuesday it will leave the Organization of Petroleum Exporting Countries in January.
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September 13,2019Crude oil futures were marginally lower during mid-morning trade in Asia Friday after an OPEC meeting on Thursday that saw no further cuts in crude production and bearish market reports on oil...
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August 31,2019OPEC oil output increased in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by US sanctions on Iran...
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July 09,2019OPEC's compliance with its production quotas fell sharply in June, as output gains in the month by Saudi Arabia and Nigeria, along with Iraq's, continued to flout their cap and shrank the bloc's...
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July 02,2019The letter of association drawn up to clarify the terms of cooperation between OPEC and non-OPEC members is not binding and will not impact the half-a-century old organization. Oil Minister Bijan...
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July 01,2019Members of the Organization of Petroleum Exporting Countries should hold consultations among themselves first on oil policy before striking deals with producers outside the bloc, Oil Minister Bijan...
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June 19,2019OPEC and its allies have fixed the date of their upcoming meetings in Vienna for July 1-2, four sources have told S&P Global Platts, ending a protracted scheduling spat that the organization's...
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June 14,2019OPEC said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead.
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June 08,2019Iran will stay in the Organization of the Petroleum Exporting Countries despite some of the member states hostility, the Oil Minister said. According to the parliamentary news website ICANA, Bijan...
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June 07,2019Saudi Arabia’s top oil official said he was sure that OPEC+ will extend production cuts into the second half of the year after holding talks with Russia.
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May 15,2019OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the...
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May 14,2019Oil production capacity could fall to under one percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to...
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May 10,2019OPEC is in the dark on the oil supply outlook for the second half of this year, with Iranian and Russian outages looking increasingly significant but Saudi Arabia reluctant to pump more due to...
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May 07,2019Iraq will remain committed to the OPEC+ deal struck in December 2018 to cut production by 1.2 million barrels per day, according to the nation's oil ministry.
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