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.

Eight OPEC+ member countries will go forward with plans ... They also discussed conflict in the Middle East and cooperation on combatting terrorism, the outlet reported. This deal amounts to ...

The purpose of OPEC is to “coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular ...

The increase is the first since 2022 from OPEC+, which includes the Organization of the Petroleum Exporting Countries ... proceed with the April increase, OPEC said. The increase is 138,000 ...

The latest statement posted on OPEC’s site noted that “the eight countries reiterated their collective commitment to full conformity with the additional voluntary production adjustments as ...

Four countries have been consulted to join the Organisation of the Petroleum Exporting Countries (Opec), its Secretary-General Haitham Al Ghais said. The four countries are Azerbaijan, Malaysia ...

Output target as announced by the countries making voluntary cuts, or as announced by OPEC. Excludes Iraq compensation plan for earlier overproduction. Iran, Libya and Venezuela are exempt from OPEC ...

The Saudi-led cartel said its members would start gradually pumping more oil in April. By Rebecca F. Elliott Oil prices fell on Monday afternoon to their lowest level of the year after the OPEC ...