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.

President Donald Trump called on the Organization of the Petroleum Exporting Countries to lower oil prices during the World ...

Scott Sheffield, the former CEO of Pioneer Natural Resources, is a hero of the Texas oil industry. But the U.S. government has accused him of working with OPEC to fix prices.

Indian state-owned oil refining company Indian Oil Corporation (IOC) is busy looking for alternative sources of crude oil ...

This means oil prices will fall unless Saudi Arabia unilaterally cuts its output, as it did in 2008 to engineer the biggest output cutback in Opec history after Brent crude fell below $100 during ...

September 27, 2016. Oil prices rose modestly ahead of a meeting of producers from the Organization of the Petroleum Exporting Countries (OPEC) cartel and Russia in Algeria on September 28 that ...

U.S. President Donald Trump on Thursday proved that words can be just as powerful as actions — at least temporarily — after ...

US president tells World Economic Forum he will insist central banks lower interest rates ‘immediately’ afterwards ...

Speaking remotely at the World Economic Forum's annual meeting in Davos, Switzerland, President Donald Trump announced that he would ask Saudi Arabia and the Organization of the Petroleum Exporting ...

This is well below pre-pandemic growth rates. At the same time, OPEC foresees an increase of 2.1 mb/d this year and 1.8 mb/d next year, a level of disagreement that seems unusually high.

OPEC+, which includes Saudi Arabia as the dominant member of the OPEC producers' cartel, and Russia as the leading non-OPEC member in the 23-country alliance, is holding an online meeting over ...