We all know that OPEC colludes to keep oil off the market and prices high. Or do we? There is actually remarkably little agreement on whether OPEC is any good at what it aspires to do. Does membership ...

The latest U.S. assessment of how much money OPEC rakes in from oil exports confirmed one thing: Cutting supplies worked. In its annual OPEC Revenues Fact Sheet, released Tuesday, the Energy ...

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 ...

Output for March 2025 was revised lower by 4 kb/d and February 2025 output was revised higher by 12 kb/d compared to last month’s report. After the pandemic, Big 4 average output peaked in 2022 at a ...

LONDON, March 13 (Reuters) - Saudi Arabia's proposals of new metrics to determine when the oil market is balanced signals a shift in OPEC's targets for a pact on supply cuts that has almost achieved ...

OPEC 12 output decreased by 135 kb/d with the largest increases from Iraq (38 kb/d), UAE (14 kb/d), and Saudi Arabia (13 kb/d). Read more here.