OPEC Nations Line Up Behind Saudi Call to Act If Necessary
Vienna August 25 2022: OPEC’s united front on possible action grew stronger, as more nations endorsed Saudi Arabia’s view that ...
Tag: OPEC
Welcome to the OPEC category page, your source for comprehensive information about the Organization of the Petroleum Exporting Countries. OPEC, established in 1960, is a vital player in the global energy market, uniting major oil-producing nations in a collaborative effort to stabilize prices, ensure a steady supply, and promote the interests of both producers and consumers.
With 13 member countries, OPEC’s influence on the world economy is undeniable. Through strategic cooperation, production quotas, and market analysis, OPEC seeks to maintain a balanced oil market that benefits all stakeholders. The organization plays a pivotal role in addressing energy challenges, adapting to geopolitical shifts, and addressing environmental concerns.
Learn about OPEC’s history, its member nations, and the crucial decisions that shape the energy lan
Oil steady as fears of imminent OPEC+ output cut fade
Singapore August 24 2022: Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the ...
OPEC daily basket price stands at $98.72 a barrel Monday
Vienna August 23 2022: The price of OPEC basket of thirteen crudes stood at US$98.72 a barrel on Monday, compared ...
OPEC+ can Deal with Market Challenges Including Cutting Production at Any Time and in Different Forms, Saudi Oil Minister says
Riyad August 22 2022: HRH Prince Abdulaziz bin Salman, Minister of Energy, says volatility and thin liquidity send erroneous signals ...
OPEC+ Agrees on Very Small Increase in September Oil Production
Vienna August 3 2022: OPEC+ agreed on a production increase of 100,000 barrels a day for September, giving a tight ...
Oil sinks nearly $5 a barrel after weak factory data sparks demand concerns
New York August 1 2022: Oil prices dropped sharply on Monday as weak manufacturing data in several countries weighed on ...
Saudi Crude Exports Set to Rise in July on Stronger China Flows
Riyadh July 19 2022: Saudi Arabia’s crude exports look set set to increase this month due to a surge in ...
Oil up 2.5% as no immediate Saudi output boost expected
New York July 15 2022: Oil was up 2.5% on Friday after a U.S. official told Reuters that an immediate ...
Biden begins sensitive Saudi trip with fist bump for crown prince, handshake for king
Jeddah July 15 2022: Joe Biden began a visit to Saudi Arabia on Friday by giving Crown Prince Mohammed bin ...
Iraq oil revenue tops $11 billion in May
Baghdad July 3 2022: The Iraqi Ministry of Oil announced Wednesday that the revenues achieved during the month of May ...
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