H.E. Mohammad Sanusi BARKINDO

Secretary General

OPEC

OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
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OPEC

A fine balance

OPEC is an international organisation that was established in Baghdad in September 1960. Today it is headquartered in Vienna, Austria. It co-ordinates and unifies the petroleum policies of its members. OPEC sets production targets for its member nations and  is an important factor affecting global oil prices. Iran is one of the five founding members of the organisation.

OPEC+, a designation that adds 10 non-OPEC members including Russia, reached a deal in September 2016 to cut approximately 1 million bopd of production. The deal was extended several times and deepened to 7.7 million bopd for August-December 2020.

Company website: www.opec.org

 

OPEC in figures

Years active as of 2020:60

Number of member states:13

OPEC features

Investment-for-energy-security-affordability-and-access-Haitham-AL-GHAIS-OPEC
Interview
Kuwait - August 13, 2024

H.E. Haitham Al Ghais of OPEC talks about adjusting oil supply to foster stability in global markets.

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A-cornerstone-of-Kuwaits-economic-prosperity-Imad-AL-ATIQI-Ministry-Of-Oil
Interview
Kuwait - August 08, 2024

Kuwaiti Minister of Oil H.E. Imad Al Atiqi talks about the pillars of the ministry’s 2024-2028 roadmap for Kuwait’s oil…

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bp’s continued commitment to Kuwait TEY_post_-Anar-Aliyev
Interview
Kuwait - August 01, 2024

Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.

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Baku Energy Week
Partnered Event
Azerbaijan - June 4-6, 2024

The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…

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Oil rally stalls
NEWS
Multinational - March 10, 2021

Oil was down Wednesday morning after falling from recent multi-year highs, as technical indicators signalled that the black liquid’s rally went too far and was too…

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Oil up, but Brent falls below $70
NEWS
Multinational - March 09, 2021

Oil was up Tuesday morning in Asia, with Monday’s most recent rally running out of steam as the dollar strengthened and made commodities priced in the currency more…

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OPEC+ shockwaves drive up oil
NEWS
Multinational - March 05, 2021

Oil prices pushed higher Friday, continuing the sharp gains of the previous session, following the decision of the Organization of the Petroleum Exporting Countries and…

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Oil up as investors await OPEC+ meeting
NEWS
Multinational - March 03, 2021

Oil was up Wednesday morning in Asia, over wide expectations that the Organization of the Petroleum Exporting Countries and allies (OPEC+) will decide to increase…

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