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

He was appointed to Nigeria’s delegation to OPEC in 1986 and served as Nigeria’s National Representative on OPEC’s Economic Commission Board from 1993 to 2008. From 2009 to 2010, he was the ...

OPEC+ members committed to unwinding oil production curbs starting in April. The oil cartel has held back supply in an effort to boost crude prices globally. The April timeline is surprising ...

The Nation Newspaper OPEC resolutions back Fed Govt’s 2.06mbpd budget projection. Tuesday, June 24, ... While officials refrained from providing a completion timeline, ...

Updated 12/5/24 to correct timeline in first sentence. OPEC+ will delay the start of oil output increases by another 3 months—pushing the timeline to April 2025—while also extending the full ...

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Brazil's crude output in April fell by 162,000 bpd month-on-month to average 3.2 million bpd, OPEC said in its report. The drop in output was primarily driven by maintenance, operational issues ...

The prospect of sluggish demand growth below OPEC's estimates of 2.25 million bpd growth in 2024, coupled with the plan to potentially start tapering the cuts as early as this year and a 300,000 ...

The head of the OPEC oil cartel, alarmed that nations gathered at the United Nations climate summit in Dubai are considering an agreement to phase out fossil fuels, has directed the group’s ...

Amid the squeeze on OPEC, the United States is thriving as an oil producer, accounting for 80 percent of the global supply increase in 2023, according to the I.E.A.

According to a production table posted on the OPEC website, which showed voluntary output adjustment figures from November 2022 to December 2023, Saudi Arabia and Russia have the highest voluntary ...