The Latest Breaking News from OPEC

Iraq stopped oil production from two southern fields with a combined capacity of almost half a million barrels a day. The shutdowns curtail the ability of OPEC’s second-largest member to pump crude just as Russia’s invasion of Ukraine and tight supplies globally send prices soaring, according to Bloomberg on Monday.…

Saudi Arabia's crude oil production increased by 110,000 barrels per day (bpd) on a monthly basis in December to 10.02 million barrels per day, according to recent data. Crude exports slightly dropped from 6.949 million bpd in November to 6.937 million bpd, according to monthly export figures submitted by Saudi…

OPEC Secretary General Mohammad Barkindo on Monday said he was "reasonably optimistic" that global leaders involved in the standoff between Russia and the West over Ukraine will be able to restore peace and stability.

OPEC+ will likely stick to existing policies of moderate output increases even as it expects demand to rise to new peaks this year and as oil prices trade near their highest since 2014. The group, which comprises of the Organization of the Petroleum Exporting Countries and allies led by Russia…

Major oil-producing countries are deciding how much crude to pump to the world next month

The OPEC Fund for International Development committed $1.5 billion to global development last year, focused on helping its partner countries to increase economic resilience strengthen economic growth and job creation through support for micro, small and medium-sized enterprises (MSMEs). The OPEC Fund, which marked its 46th anniversary on 28 January,…

The world's top oil-producing countries will meet on Wednesday to discuss a further increase in output, while crude prices have reached seven-year highs rattled by geopolitical tensions. Part of their regular meetings since the Covid-19 pandemic shook markets, the 13 members of the Organization of the Petroleum Exporting Countries (OPEC)…

Successive personalities have occupied the position of Secretary-General at the Organization of the Petroleum Exporting Countries (OPEC), a 13-country organization that underwent major pivotal historical events in the global arena.

Saudi Energy Minister Prince Abdulaziz bin Salman said the Organization of Petroleum Exporting Countries (OPEC) and its allies, referred to as OPEC+, have "done a lot" to stabilize global energy markets. Speaking about energy security at the Abu Dhabi Sustainability Week Summit at Expo 2020 in Dubai, the minister added:…