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.

The OPEC bloc of oil-producing nations announced Monday that it will extend oil production cuts through the end of 2024, ...

Crude output from the Other 8 OPEC producers (those not part of the Big 4) has risen at an average annual rate of 447 kb/d for the past 36 months. The OPEC Monthly Oil Market Report (MOMR ...

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 ...

OPEC lowered its global oil demand growth forecast for 2024 and 2025 due to weaker demand revisions in China and other Asian markets. This marks the fourth consecutive month of downward revisions ...

Prices for U.S. crude also rose about 2 percent to above $71 a barrel. OPEC Plus had first announced in June that it would gradually increase production by an estimated 2.2 million barrels a day ...

OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China. Global oil consumption will increase by ...