OPEC

Contrary to initial reports that OPEC will not make public the country quotas in the new production cut deal, the organization now plans to publish a table of each OPEC and non-OPEC individual…

OPEC may be about to succeed by accident, again.  Unplanned supply losses from members Iran and Venezuela could effectively double the intended cutback of 800,000 bpd OPEC…

Oman will cut oil output by 2% from January for an initial period of six months, according to a letter sent to customers of Omani oil by the country’s oil and gas ministry.  The output…

A general cooperation agreement between OPEC and non-OPEC countries will be signed in three months in Saudi Arabia, the UAE energy minister said Tuesday.

US shale producers cheered OPEC’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing. 

Qatar is to leave OPEC next month in order for the Persian Gulf state to focus on gas production, the country’s new Energy Minister Saad al-Kaabi announced in a surprise move on Monday.

Russia and Saudi Arabia agreed to extend into 2019 their agreement to manage the oil market, known as OPEC+, although the two sides have yet to agree on any fresh output cuts. Russian President…

OPEC coalition decisions on further global oil market cooperation will be taken next week amid uncertainty over many factors impacting the industry, including Iranian crude export volumes, but…

OPEC oil supply has fallen in November from a two-year high due to US sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the…

OPEC is showing no public signs of panicking to the largest weekly plunge in oil prices since 2016, with five senior sources telling S&P Global Platts that the organization has not discussed…

Russian Energy Minister Alexander Novak said Monday that he plans to discuss a potential output cut in 2019 with oil companies before OPEC/non-OPEC meetings in early December. "Undoubtedly, we…

OPEC will not respond to US pressure to lower oil prices but will seek to maintain a balanced market, UAE energy minister Suhail al-Mazrouei said Tuesday, after President Donald Trump warned the…

Saudi Arabia is not preparing for a break up of OPEC and believes the group will remain the global central bank for oil for a long time, Saudi Energy Minister Khalid al Falih said on Monday.…

Iran Oil Minister Bijan Namdar Zanganeh says the Joint Ministerial Monitoring Committee (JMMC) and Joint Technical Committee (JTC) in charge of monitoring a deal between OPEC and other oil…

OPEC’s crude production climbed to the highest level since 2016 as increases by Saudi Arabia and Libya offset losses stemming from impending US sanctions on Iran. The group’s 15 members boosted…

OPEC's key technical committee is examining the oil market outlook for 2019 as the group tries to balance supply concerns from Iran and other vulnerable producers along with the possibility of a…

OPEC is dying. President Donald Trump will probably rejoice. But he may not like what takes its place any better.

For a while, in its youth, the group burned so very bright, helping…

Iran Oil Minister Bijan Zanganeh said on Sunday he hoped decisions taken by the Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) would not be affected by US President Donald Trump’s…

Oil Minister Bijan Namdar Zanganeh on Thursday said he would veto any OPEC deal that imperils Iran's oil market share, after the organization's talks with Russia and other partners to…

An OPEC and non-OPEC technical committee will next week discuss proposals for sharing an oil output increase, sources familiar with the matter said, a tense topic for the producer group after it…

Some members of the Organization of Petroleum Exporting Countries aim to exploit the group by pursuing their political ambitions.

Kazem Gharib-Abadi, Tehran’s ambassador to international…

Iran has asked fellow OPEC members to "refrain from any unilateral measures", warning that would undermine the unity of OPEC, following reports that Saudi Arabia has raised its oil production to…

Oil Minister Bijan Namdar Zanganeh rejected leaving the 2016 pact of curbing oil output by OPEC members.

"Every decision in OPEC needs unanimity … I do not believe that we can reach an…

Iran, or any other member of the Organization of Oil Exporting Countries, can unilaterally thwart efforts to reach an agreement to raise the group’s oil production, as it requires a 100%…

Oil Minister Bijan Namdar Zanganeh has called on UAE Minister of Energy and Industry Suhail Mohammed Al Marzouei to include in the June 22 meeting of the organization in Vienna ways and means to…