In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.

OPEC’s control of the oil market has been diminishing over the past year, and now it seems to have nearly vanished. That is a problem for oil bulls heading into 2025. OPEC and its allies, known ...

OPEC's extended production cuts and reduced non-OPEC growth will create a reliance on OPEC barrels, giving them leverage to set higher oil prices. Despite current low WTI prices, we anticipate a ...

LONDON (Reuters) -OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China's ...

September 27, 2016. Oil prices rose modestly ahead of a meeting of producers from the Organization of the Petroleum Exporting Countries (OPEC) cartel and Russia in Algeria on September 28 that ...