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 ...

LONDON, March 5 (Reuters) - OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output ...

Members of the Organization of Petroleum Exporting Countries will revive oil production in April, committing to a deadline energy experts assumed was headed for a delay. The coalition and allies ...

Earlier in the day, reports emerged that the OPEC+ group, comprising OPEC and a dozen non-OPEC producers led by Russia, is mulling over postponing the gradual increase in oil supply. The alliance ...

OPEC's Secretary General ... He further said that despite the facts, there had been some recent predictions for peak demand by 2030 and calls for a discontinuation of investment in hydrocarbons.

The group includes the 12 members of OPEC, the longstanding group set up to coordinate oil production to stabilize markets, plus 10 more significant oil-producing nations with Russia by far the ...

Increasing OPEC supply–with prospects for further supply hikes–combined with constant uncertainty around tariffs and trade have pushed the market lower, ING says. Recent price weakness is ...

Kazakhstan hiked February output to record high, source says OPEC+ to boost output by 138,000 bpd in April Trump wants OPEC to produce more oil DUBAI/MOSCOW/LONDON, March 4 (Reuters) - As OPEC+ ...

Low demand in China and an ongoing production boom among non-OPEC members have made it difficult for the cartel to achieve higher prices. Still, given that OPEC economies are highly dependent on ...