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 ...

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

OPEC and its partners from OPEC+ started cutting oil production in 2023 after prices fell from three-digit highs in 2022. At ...

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

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

The U.S. shale boom has eroded OPEC's grip on oil markets. Bank of America estimates that oil from the rest of the world, ...

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 ...

Oil prices climbed on Thursday, with WTI oil ending the day with an increase of roughly 1%, trading at $59.70 a barrel. The ...

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 ...