We all know that OPEC colludes to keep oil off the market and prices high. Or do we? There is actually remarkably little agreement on whether OPEC is any good at what it aspires to do. Does membership ...

The latest U.S. assessment of how much money OPEC rakes in from oil exports confirmed one thing: Cutting supplies worked. In its annual OPEC Revenues Fact Sheet, released Tuesday, the Energy ...

OPEC held its biennial seminar over July 9-10 in Vienna. Ministers representing OPEC countries, their allies and key consumers were joined by oil and gas CEOs, policymakers, analysts and members of ...

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 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 ...

LONDON, March 13 (Reuters) - Saudi Arabia's proposals of new metrics to determine when the oil market is balanced signals a shift in OPEC's targets for a pact on supply cuts that has almost achieved ...