Iran is ranked third, possessing 208,600 million barrels, or 208 billion barrels. Iraq takes fourth place with 145,019 ...

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.

OPEC Sees Lower Supply Growth From Rivals, Keeps Demand Outlook Steady . The Organization of the Petroleum Exporting Countries trimmed next year's forecast for supply growth from the U.S. and ...

OPEC Sees Lower Supply Growth From Rivals, Keeps Demand Outlook Steady Provided by Dow Jones Jun 16, 2025, 12:14:00 PM. By Giulia Petroni .

OPEC also said supply from countries outside the Declaration of Cooperation – the formal name for OPEC+ – will rise by about 730,000 barrels per day in 2026, down 70,000 barrels per day from ...

OPEC secretary-general Haitham al-Ghais is among the leaders set to speak at the Global Energy Show next week. Organizers say Calgary is expecting a 30-per-cent increase in hotel bookings for the ...

OPEC launched a major initiative to define maximum sustainable production capacity. According to Standard Chartered, this effort is expected to enhance transparency, limit quota manipulation, and ...

Oil rose for a second day as supply disruptions from Canada’s wildfires countered OPEC’s latest bumper supply increase. West Texas Intermediate advanced 1.4% to close above $63 a barrel, the ...

OPEC raised oil production last month as the group began a series of accelerated increases spurred by Saudi Arabia, according to a Bloomberg survey.

OPEC and its allies stunned oil markets in early April by announcing they would start to revive output at three times the planned rate, briefly sending crude prices to a four-year low.

Saudi Arabia's past oil price wars in 2014–2016 and 2020 backfired, as U.S. shale producers became leaner and more efficient.

Saudi Arabia and Russia had to reach a difficult compromise on OPEC+ policies on Saturday as Riyadh pushed to accelerate oil output increases while Moscow argued for a pause, four OPEC+ sources ...