NEWS
Multinational - February 09, 2021
Oil was up Tuesday morning in Asia, and were at their highest level since January 2020, boosted by major producers cutting supplies and increasing hopes for fuel demand…
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BACK TOCOMPANIES
OPEC
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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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.
- Leadership: OPEC’s secretary-general is Haitham Al-Ghais a Kuwaiti oil official who is a veteran fo the industry.
- Members: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Republic of Congo, Saudi Arabia, the UAE, Venezuela
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
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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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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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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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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NEWS
Multinational - February 08, 2021
Oil was up Monday morning in Asia, with supply cuts by key producers and hopes for further US stimulus measures giving the black liquid a boost.
Brent oil futures…
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NEWS
Multinational - February 05, 2021
Oil was up Friday morning in Asia to its highest levels in year, ending the week on a strong note over producers’ commitment to continued supply cuts and positive…
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NEWS
Multinational - February 04, 2021
Oil was up Thursday morning in Asia, after the Organization of the Petroleum Exporting Countries and allies, or OPEC+, vowed to continue with a reduced output policy at…
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NEWS
Multinational - February 03, 2021
Oil was up Wednesday morning after expectations that global oil stocks will stabilize and progress in the US towards passing US. President Joe Biden’s $1.9 trillion…
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NEWS
Multinational - February 02, 2021
Oil was up Tuesday morning in Asia, climbing to its highest level in more than two weeks as a strong market and expectations of a global economic recovery from Covid-19…
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NEWS
February 01, 2021
Oil was up Monday morning in Asia. However, a resurgence of COVID-19 globally continues to take an economic toll and dampen fuel demand.
Brent oil futures were up…
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NEWS
Multinational - January 29, 2021
Oil prices were mixed on Friday as slowing fuel demand was balanced by a pending supply cut by Saudi Arabia and lower US oil stocks.
US West Texas Intermediate (WTI)…
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NEWS
Multinational - January 26, 2021
Oil was down Tuesday morning in Asia, over fading hopes of further US stimulus measures being quickly approved alongside ever-growing fuel demand worries as the number…
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