The global oil market is keeping a close eye on the Organization of Petroleum Exporting Countries (OPEC), which is unwinding output cuts at a faster rate than originally planned to punish over ...

OPEC has a very different agenda than Trump and is not going to do what he wants just because he asks nicely.

Crude oil futures fell 2% Monday after OPEC reduced its oil demand outlook for 2024 and 2025 once again, citing data received so far this year.

Growing oil production from countries outside OPEC, coupled with uncertain demand, makes it unlikely that OPEC will reverse its production cuts anytime soon.

OPEC raised its world oil demand forecasts for the medium and long term in an annual outlook, and said $14 trillion of investment is needed to meet this demand even as renewable fuel use grows and ...

OPEC has not invited Reuters or Bloomberg news agencies to report on ministerial meetings in Vienna this weekend to discuss future oil policy, according to reporters, Bloomberg and an OPEC source ...

OPEC has raised its 2023 global oil demand growth forecast in its first upward revision for months, due to China's relaxation of COVID-19 restrictions, and trimmed supply forecasts for Russia and ...

Analysts at Goldman Sachs offered their views on what OPEC may do this year.

OPEC slashed oil demand outlook on Tuesday on signs of global uncertainty. The cartel now predicts demand will be roughly 380,000 barrels a day below previous estimates. "The year 2023 is expected ...

Led by Saudi Arabia, the oil cartel OPEC Plus pledged to reduce output by two million barrels a day.

This paper studies the historical importance of OPEC for oil price fluctuations. An event-study approach is used to identify the effects of OPEC announcements on oil price fluctuations. Results show ...

The Saudi-led OPEC cartel decided to boost production modestly amid considerable uncertainty about the global economy.