Organization of Petroleum Exporting Countries (OPEC)

  • Global Oil Demand Forecast Cut Again by OPEC 

    Global Oil Demand Forecast Cut Again by OPEC 

    Wednesday, 14th October 2020

    The Organization of Petroleum Exporting Countries (OPEC) has further curtailed its expectations for the rebound of world oil demand in 2021.

  • OPEC Struggles to Keep Russia Longer in Oil Cuts

    OPEC Struggles to Keep Russia Longer in Oil Cuts

    Sunday, 31st March 2019

    Saudi Arabia struggles in persuading Russia to stay longer with the Organization of Petroleum Exporting Countries (OPEC)’s strategy of oil cuts.

  • Nigeria’s Oil Output Dropped to 1.45mb/d

    Nigeria’s Oil Output Dropped to 1.45mb/d

    Monday, 9th January 2017
    Nigeria recorded the biggest oil production decline among Organization of Petroleum Exporting Countries (OPEC) members in December, as output dropped by 200,000 barrels to 1.45mb/d.
  • Saudi Arabia to Boost Oil Revenues by 46%

    Saudi Arabia to Boost Oil Revenues by 46%

    Thursday, 5th January 2017
    Saudi Arabia expects oil revenue to jump by 46% next year after a deal between the kingdom and other producers to curb output drove up global prices.
  • Qatar, Kuwait to Cut Oil Output in 2017

    Qatar, Kuwait to Cut Oil Output in 2017

    Monday, 19th December 2016
    Qatar Petroleum and Kuwait Petroleum Corp (KPC) will reduce production levels from the beginning of 2017, following the recent decisions by OPEC and non-OPEC oil-producing countries to cap output.
  • KSA Production Reached 10.72mb/d of Oil

    KSA Production Reached 10.72mb/d of Oil

    Wednesday, 14th December 2016
    The Kingdom of Saudi Arabia (KSA) pumped 10.72mb/d of oil, a record-high in November as the Organization of Petroleum Exporting Countries (OPEC) pushed for a global deal on production cuts.
  • Saudi Arabia, Russia Talk Oil Price Stability

    Saudi Arabia, Russia Talk Oil Price Stability

    Monday, 5th September 2016
    The crown prince of Saudi Arabia, Mohammed Bin Salman, met the Russian President, Vladimir Putin, on the sideline of the G20 summit in eastern China, to discuss possible cooperation regarding oil production freeze proposal in an effort to rebalance global markets.