OPEC turns 57 years old this year. I suppose I could wait three more years for a "round" number to tell you about it, but as they say, there's no.

I think Saudi Arabia pushed for a strategy that will go down as one of the greatest mistakes in OPEC’s history. It was a decision, I might add, that 9 of the 13 OPEC members reportedly oppose.

For OPEC members and other Arab, African and Muslim countries, a form of reckoning is at work here, for the long U.S. history of punishing countries that decline to obey American policy dictates.

Officials of OPEC and its major allies agreed on Monday to modestly cut oil production by 100,000 barrels a day, rolling back the increase they approved a month ago. The trim is so small — about ...

At a meeting at OPEC headquarters in Vienna, Austria, the bloc of oil-producing nations, with support from Russia, said it would cut production by 2 million barrels per day beginning in November.

Such a decision would do little to quell dissent in OPEC, however.Many members think that the quotas are unfair, and do not reflect increases of capacity. By 2025 all current output cuts will expire.

OPEC+'s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response.

The Organization of the Petroleum Exporting Countries, or OPEC, has had massive influence over American politics for six decades. President Biden’s "incredible" oil market trading has broken ...

The oil market is fast losing faith in OPEC’s ability to deliver on its much promised production cut from 34.6 million barrels per day (bpd) to a range of 32.5 to 33 million bpd, made in Algiers ...

OPEC History Shows It Can Deal Even Bigger Blows to Oil Price. From bloomberg.com. Oil’s slump of more than 10 percent in New York since OPEC met on Dec. 4 has struck fear into any remaining crude ...

The fact is that Saudi Arabia produced an average of 8.267 million bpd of crude oil from 1973 to 1 May 2024, according to figures from OPEC itself. In its entire history, it has only managed to ...