Organization of the Petroleum-Exporting Countries (OPEC)

OPEC splits US legislators

OPEC splits US legislators

A U.S. Senate committee passed a bill yesterday that could expose the Organization of the Petroleum Exporting Countries and partners to lawsuits for collusion on boosting crude oil prices

OPEC+ countries decide to increase oil production

OPEC+ countries decide to increase oil production

During the last meeting, the OPEC+ countries decided to continue increasing oil production by the planned 432 thousand barrels per day in June. "Confirm the production adjustment plan and the monthly adjustment mechanism …

Why oil futures climb on

Why oil futures climb on

Crude oil futures Thursday were up on the day as production worries around Libya and Russia came back to the forefront, but broader economic concerns and record US exports pared gains

Putin discusses OPEC + with Saudi Crown Prince

Putin discusses OPEC + with Saudi Crown Prince

Russian President Vladimir Putin had a telephone conversation with Crown Prince of Saudi Arabia Mohammed bin Salman, the Kremlin press service reports. "Topical issues of bilateral cooperation, including in the trade and economic …

OPEC: it's 'nearly impossible' to replace Russian oil

OPEC: it's 'nearly impossible' to replace Russian oil

OPEC's Secretary-General Mohammad Barkindo said it would be "nearly impossible" to replace Russian oil. According to Barkindo, the highly volatile market is not based on fundamentals and is out of its control. …

Growing fuel prices intensify popular discord

Growing fuel prices intensify popular discord

With Turkey’s consumer inflation already at 54.4%, price increases on fuel alone threaten to add two percentage points to the monthly inflation rate in March. A seemingly endless stream of fuel price hikes has sparked a nationwide outcry in Turkey, where the surge in global energy prices has been amplified by the depreciation of the Turkish lira

Azerbaijan and OPEC discuss future cooperation

Azerbaijan and OPEC discuss future cooperation

Azerbaijani Foreign Minister Jeyhun Bayramov and Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Barkindo have discussed prospects of cooperation in Vienna, Austria, the ministry reported. …

OPEC+ ministers extend plan to increase oil output

OPEC+ ministers extend plan to increase oil output

The OPEC and non-OPEC Ministerial Meeting, which lasted about half an hour on Tuesday, has given a green light to the oil output increase by 400,000 barrels per day in February, an OPEC source said. "They have approved an increase …

OPEC elects next Secretary-General

OPEC elects next Secretary-General

Ministers of the Organization of Petroleum Exporting Countries (OPEC) appointed Haitham al-Ghais from Kuwait to become the next OPEC Secretary-General in August 2022 at Monday’s meeting held as a video conference, an OPEC source said. …

OPEC countries may elect new Secretary-General today

OPEC countries may elect new Secretary-General today

The ministers of the OPEC countries will hold a special meeting on Monday, January 3, where they will discuss the candidacy of the new Secretary-General of the organization, who should replace Mohammed Barkindo starting from August, according to …