A key player in the oil industry and central to producer-consumer relations, the Organization of the Petroleum Exporting Countries (OPEC) was formed by major oil exporters to stabilize prices and ...

Many groups, including the International Energy Agency, predict that the world’s peak oil production is close, and global oil demand will drop starting in the next decade as more renewables come ...

Sept 10 (Reuters) - The following are changes in oil output limits for those members of the Organization of the Petroleum Exporting Countries subject to restrictions. All of OPEC's 12 current members, ...

OPEC increased its global oil demand growth estimate for 2026 to 1.38 million barrels per day, citing stronger economic performance in key regions. The cartel also revised down its forecast for ...

Saudi Arabia and the United Arab Emirates see a chance to ratchet up production in July, the third consecutive month of accelerated increases. By Stanley Reed Reporting from London Eight members of ...

The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that the International Energy Agency (IEA) has made a “rendezvous with reality” after reversing its forecast for ...

Key OPEC+ nations added less oil to the market last month than the headline figure of its output plan, as the cartel’s leadership pushed members to atone for earlier over-production. The eight members ...

OPEC raised its expectations Tuesday for global oil demand growth next year while also lowering the supply growth forecast for producers outside the wider OPEC+ group, signaling a tighter oil outlook, ...