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, or the Organization of the Petroleum Exporting Countries, serves as an organizing body of the world's largest producers of oil. Its purpose, per its website, is to "coordinate and unify the ...

At the core of this group are the 13 members of Opec (Organization of the Petroleum Exporting Countries), which are mainly Middle Eastern and African nations. Opec was formed in 1960 as a cartel ...

The forecasts come amid a slowing Chinese economy, which has significantly hit oil demand and abundant global supply.

But markets have shrugged off the supply cuts, in a possible a sign that OPEC's control over the oil market could be fading. That's as more non-OPEC supplies fill in the gaps. In fact, Goldman ...

OPEC said Thursday that the Nov. 30 meeting will be held online. West Texas Intermediate, the U.S. benchmark, traded down 8% to $75.72 a barrel. Brent crude, the international standard ...

The 2 June 2016 OPEC meeting will be held amid a backdrop of oil prices near $50 per barrel, a sharp drop in Nigerian production due to sabotage, turmoil in Venezuela, Saudi Arabia operating with ...

The problem is that OPEC and other experts are far from a consensus despite being five months into 2024. Indeed, OPEC and the IEA can't even agree on the pace of demand in the first quarter ...

OPEC’s latest Oil Market Report sheds light on the shifting dynamics of the global energy sector. The closely watched report not only provides an updated forecast on demand growth but also dives ...

Haitham Al Ghais, secretary general of the Organization of Petroleum Exporting Countries in Abu Dhabi, said that oil demand is ...