Organization of the Petroleum-Exporting Countries (OPEC)

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 …

OPEC can elect new secretary general in January 2022

OPEC can elect new secretary general in January 2022

Ministers of OPEC member-states ended the meeting, during which the proposal was made to call an extraordinary meeting of the organization in January where the candidacy of the new secretary general can be determined, a source participating in …

Oil prices climb 5% ahead of OPEC meeting

Oil prices climb 5% ahead of OPEC meeting

Oil prices rose more than 4% on Wednesday, still struggling to recoup losses of more than 16% in November, as major producers prepared to discuss how much of a threat the new Omicron variant of the coronavirus would pose to energy demand. …

Rising U.S. oil production unlikely to spoil OPEC’s party

Rising U.S. oil production unlikely to spoil OPEC’s party

As oil prices rally, the rig count in the Permian is ticking up and oil production in the basin is set to reach pre-pandemic levels soon. The rig count in the top oil-producing shale play is now 136 rigs above what it was this …

White House speaking with OPEC about oil prices

White House speaking with OPEC about oil prices

The White House is staying in communication with OPEC about oil prices and looking at every tool to address its cost, White House press secretary Jenn Psaki said on Tuesday after Brent crude topped $80 per barrel for the first time in nearly …

Is the oil market broken?

Is the oil market broken?

Are the supply and demand fundamentals that have governed oil markets for decades coming unstuck?