More: OPEC
The UAE Just Walked Out of OPEC and the Cartel May Never Recover
Fifty-nine years of membership, ended with a statement on a Tuesday and an effective date of Friday. The United Arab Emirates announced it will...
UAE Breaks from OPEC and OPEC+ in Major Policy Shift
The United Arab Emirates announced on Tuesday that it is leaving OPEC and OPEC+, which poses a significant challenge for these oil-exporting groups and...
America Replaces OPEC as Global Oil Shock Absorber
The ongoing Iran war has reshaped global energy dynamics, shifting influence away from OPEC toward the United States. Traditionally, OPEC and key producers like...
OPEC+ Maintains Oil Output, Defying Internal Discord
OPEC+ decided to keep oil production steady during its recent meeting, despite political issues between Saudi Arabia and the UAE, and the U. S....
Trump Unlikely to Target Venezuela’s OPEC Membership Amid Pressure Campaign
The U.S. has been increasing pressure on Venezuelan President Nicolas Maduro to step down, including building up a military presence in the Caribbean and...
OPEC+ Unveils New Capacity Rules in Bid to Calm Global Oil Markets
Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday that the new OPEC+ mechanism for assessing members’ maximum production capacity will help stabilise...
Iraq in Talks to Revise OPEC Oil Output Quota
Iraq, OPEC’s second-largest producer, is seeking to renegotiate its production quota to better reflect its full output capacity of 5.5 million barrels per day...
OPEC Chief Calls for More Oil Investment Amid Energy Transition Debate
OPEC Secretary General Haitham Al Ghais said on Wednesday that the world needs to invest more in oil and gas to meet rising energy...
OPEC+ considers sharper rise in oil supply
OPEC+ is expected to discuss a larger oil production increase of 411,000 barrels per day for November at an upcoming meeting. This move follows...
OPEC+ To Discuss Further Oil Output Hike to Regain Market Share
Background
OPEC+, the coalition of the Organization of the Petroleum Exporting Countries and allies including Russia, has long used production cuts to stabilize oil markets....