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 ...

OPEC's optimistic oil demand assumptions are at odds with reality, with a 2.1 million b/d difference compared to IEA estimates for 2025. Global oil inventories and refining margins indicate weaker ...

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 ...

O PEC+ is meeting this coming weekend to discuss the next steps in its production control plan. Early reports suggest the group will stick to a pause in the rollback of its cuts. Yet commentators say ...

If Brent prices remain below $80 per barrel, OPEC will have to consider cutting production. That’s what Al Salazar, Director at Enverus Intelligence Research (EIR), told Rigzone in an exclusive ...

For now, Brazil’s rebound from November’s outages and OPEC’s steady outlook offer opposing snapshots of a market in flux, one ...

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

Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures higher on Monday — West Texas Intermediate is trading around $71.50 a barrel.

'The decision ... formally paves the way for the participation of Brazil as a Member of the Charter of Cooperation between oil producing countries', OPEC highlighted. Image by gladder via iStock In a ...

Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government ...

OPEC's oil output edged lower in November, despite an OPEC+ agreement to raise production for the month, due to outages in ...