NEWS
Multinational - April 08, 2020
Oil prices swung up in Asia on Wednesday morning as they rebounded from sharp losses during the previous session.
The past two sessions took the black liquid on a…
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 - April 07, 2020
Oil prices rallied in Asia on Tuesday from a dramatic 8%-fall in their last session.
International Brent Oil Futures rose 2.43% to $34.11 by 9:52 PM ET (2:52 AM GMT)…
READ MORE
NEWS
Multinational - April 06, 2020
Oil prices slid in Asia on Monday morning as OPEC+ delayed a meeting scheduled for later in the day to Thursday.
International Brent Oil Futures lost 6% to $32.74 by…
READ MORE
NEWS
Multinational - April 03, 2020
Oil markets pushed higher Friday, continuing Thursday’s hefty gains, amid hopes that the major oil producers will agree a hefty supply cut to try and balance a market…
READ MORE
NEWS
Multinational - April 03, 2020
Oil prices fell on Friday morning in Asia as investors express doubts about a US-mediated truce between Russia and Saudi Arabia.
US Crude Oil WTI Futures jumped…
READ MORE
NEWS
Multinational - March 24, 2020
Oil prices rallied Tuesday morning in Asia as the US indicated the possibility of an alliance with Saudi Arabia to stabilise prices.
International Brent Oil Futures…
READ MORE
NEWS
Multinational - March 23, 2020
Oil prices plummeted to their lowest levels since 2003 as an anticipated deal between OPEC and the US failed to materialise.
Monday morning in Asia, International…
READ MORE
NEWS
Multinational - March 18, 2020
Oil prices continued their rise on Wednesday morning in Asia as inventories in the US decreased, but prices still remained below $30.
The American Petroleum…
READ MORE
NEWS
Multinational - March 11, 2020
Oil prices gained on Wednesday in Asia as US stocks rebounded from Monday’s plunge.
US WTI were up 2.5% to $35.2 by 10:45 PM ET (02:45 GMT). International…
READ MORE
