In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.

LONDON/MOSCOW, March 12 (Reuters) - OPEC said on Wednesday that Kazakhstan led a sizeable jump in February crude output by the wider OPEC+, highlighting a challenge for the producer group in ...

OPEC's Secretary General ... He further said that despite the facts, there had been some recent predictions for peak demand by 2030 and calls for a discontinuation of investment in hydrocarbons.

The group includes the 12 members of OPEC, the longstanding group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations with Russia by far the ...

This means the country failed to meet the 1.5 million barrels per day OPEC production target set for its members. A review of Nigeria’s latest crude oil production data by SaharaReporters has ...

Low demand in China and an ongoing production boom among non-OPEC members have made it difficult for the cartel to achieve higher prices. Still, given that OPEC economies are highly dependent on ...

At the announcement of the Brazilian government’s decision to join the group, Mines and Energy Minister Alexandre Silveira described OPEC as “a forum for discussing strategies among oil ...

The OPEC Fund and the Industrial Development Bank of Turkiye signed an agreement for a $52.46 million loan to support climate- and circular economy-related projects in the Mediterranean country.