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 ...

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 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 ...

OPEC 12 output for May 2025 was revised lower by 6 kb/d and April 2025 output was revised lower by 2 kb/d compared to last month’s report. OPEC has announced plans to increase output at about 411 kb/d ...

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday ...

OPEC on Wednesday said world oil demand would rise at a similar pace in 2027 as this year and published data indicating a ...