NEWS
Multinational - May 20, 2020
Oil was up Wednesday morning after investors breathed a sigh of relief after the last day of the WTI futures June contract on Tuesday closed without incident.
Brent…
READ MORE
BACK TOCOMPANIES
OPEC
H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
Read The Full Interview
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.
READ MORE
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…
READ MORE
Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
READ MORE
Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
READ MORE
NEWS
Multinational - May 19, 2020
Oil was mixed on Tuesday morning, the last day of trading for the WTI futures June contract in Asia.
Brent oil futures dropped 0.65% to $35.25 by 9:45 PM ET (2:45 AM…
READ MORE
NEWS
Multinational - May 15, 2020
Oil was mixed on Friday morning in Asia, giving up some of its gains from the previous session.
Brent oil futures dropped 0.29% to $31.30 by 9:35 PM ET (2:35 AM GMT)…
READ MORE
Interview
Nigeria - May 14, 2020
Eke U. Eke, CEO of SpringRock Group, talks to The Energy Year about steps the company has taken to protect its workers and ensure business continuity during the…
READ MORE
NEWS
Multinational - May 14, 2020
Oil was mixed on Thursday morning in Asia, with dark clouds on the horizon for the black liquid despite a decrease in inventories.
Brent oil futures slipped 1.46% to…
READ MORE
NEWS
Multinational - May 13, 2020
Oil was mixed on Wednesday morning in Asia after the American Petroleum Institute (API) predicted another week of increases in crude oil supply.
The American…
READ MORE
NEWS
Multinational - May 12, 2020
Oil prices were unstable on Tuesday morning in Asia, clawing back losses from the previous session.
Brent oil futures slid 0.33% to $29.89 by 9:32 PM ET (2:32 AM…
READ MORE
NEWS
Multinational - May 11, 2020
Oil was down on Monday morning in Asia, giving up some of its gains from the last session.
Brent Oil futures were down 1.36% to $30.48 by 9:52 PM ET (2:52 AM GMT)…
READ MORE
NEWS
Multinational - May 08, 2020
Oil ended the week by clawing back its losses from the previous session on Friday morning in Asia.
Brent oil futures rose 1.94% to $29.98 by 9:28 PM ET (02:12 AM…
READ MORE
