OPEC initially began with five countries, which are Iran, Iraq, Venezuela, Saudi Arabia, and Kuwait, to end the dominance of the so-called ‘seven sisters’ Western oil companies and maintain stable oil ...

OPEC output dipped in November despite planned increases, as outages in Nigeria and Iraq limited production gains.

OPEC+ nations gathering this weekend are once again grappling with the thorny question of how much oil they’re physically ...

OPEC+ left early-2025 production targets unchanged but approved a major new mechanism to reassess each member's maximum ...

A key player in the oil industry and central to producer-consumer relations, the Organization of the Petroleum Exporting Countries (OPEC) was formed by major oil exporters to stabilize prices and ...

BRASILIA, Brazil (AP) — Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead ...

A study by Reuters revealed on Thursday that OPEC's production declined in November, despite an OPEC+ agreement to increase ...

April 3 (UPI) --Eight OPEC oil-producing nations Thursday agreed to boost crude oil production beginning in May. OPEC said in a statement that Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, ...

The Organisation of Petroleum Exporting Countries (OPEC) has maintained Nigeria’s oil production quota of 1.5 million barrels ...

Though non-OPEC members agree to cooperate with OPEC nations, Brazil won’t have any binding obligation such as production cuts, Mines and Energy Minister Alexandre Silveira said at a news conference.