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 ...

The oil cartel aims to stabilize prices in a changing geopolitical environment. Oil producers in the OPEC+ group this weekend ...

Market oversupply fears are rising despite OPEC's insistence that the 2026 market will be balanced.

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

One has to do with ongoing pessimism about oil prices, while another said despite warnings of doom and gloom in the oil ...

U.S. oil production is expected to climb to 13.5 million barrels a day in 2025 from 13.2 million in 2024.

OPEC+ paused production increases, postponing quota decisions to manage fragile cohesion, geopolitical risks, and a ...

A key player in the oil industry and central to producer-consumer relations, the Organization of the Petroleum Exporting Countries (OPEC) was formed by major oil exporters to stabilize prices and ...

OPEC is pursuing a long-term strategy to increase its market share and is unwinding production cuts, with oil prices remaining strong due to factors beyond OPEC's direct control. The rise in oil ...

President Trump's ultimatum to President Maduro escalates tensions as Venezuela struggles with economic collapse and mounting ...

On the eve of a contentious OPEC meeting in the 1980s, one of the cartel’s top officials penned a poem that caused quite a ...

Existing shale production isn't what OPEC has been targeting. Market share isn't the primary concern of the cartel. The future of OPEC looks grim, considering what's coming down the pipe. All OPEC can ...