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.

Asked about Trump's comments, Saudi Economy Minister Faisal al-Ibrahim told a panel at the World Economic Forum in Davos on Friday that Saudi Arabia and OPEC were seeking long-term oil market ...

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 ...

ASHEVILLE, NC., Jan 24 (Reuters) - U.S. President Donald Trump on Friday reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia's finances and help bring an end to the war in Ukraine.

The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.

11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient Trump believes that lowering oil prices by increasing OPEC output will force Russia to end the war ...

This means oil prices will fall unless Saudi Arabia unilaterally cuts its output, as it did in 2008 to engineer the biggest output cutback in Opec history after Brent crude fell below $100 during ...

President Donald Trump called on OPEC states to slash oil prices as a way to get Russia to the negotiating table and bring an end to the war in Ukraine — but the move could backfire on the US ...

OPEC and its allies pump almost half of the ... Meanwhile, OPEC+ has a history of underestimating gains in US oil production. This was evident during the US shale oil boom more than a decade ...

U.S. President Donald Trump has raised the stakes for a meeting of an OPEC+ ministerial panel next month, with his call for the group to lower oil prices. Just days into his second term, Trump ...