NEWS
Multinational - May 05, 2020
Oil was up on Tuesday morning in Asia, building on its gains from the previous session.
Brent oil futures rose 1.40% to $28.23 by 9:43 PM ET (2:43 AM GMT) and WTI…
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BACK TOCOMPANIES
OPEC
H.E. Haitham AL GHAIS
Secretary-General
OPEC
Saudi Arabia’s strategic vision and commitment to collaboration will undoubtedly continue to play a key role in OPEC’s ability to navigate the evolving global energy landscape.
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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
USA - June 12, 2026
Josh Sherman of the Houston Producers Forum talks about Houston’s growing pull as energy security concerns and growing LNG and…
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NEWS
Canada - June 10, 2026
ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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NEWS
UAE - May 12, 2026
ADNOC Drilling is prepared to expand the UAE’s oil production capacity beyond 5 million bopd by 2027 as the country advances…
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NEWS
UAE - April 29, 2026
The UAE has announced it will leave OPEC, potentially clearing the way for higher production outside OPEC quotas and dealing a…
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Connected enterprise
TOGY talks to -
The heart of Kuwait
TOGY talks to -
Record growth in renewables
INTERVIEW
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Abu Dhabi - May 04, 2020
Jaafar Altaie, managing director of Manaar Energy, talks to The Energy Year about what it will take for companies to survive the Covid-19 crisis and the role that data…
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NEWS
Multinational - May 04, 2020
Oil was down on Monday morning in Asia, unable to hold onto its gains from the previous session.
Brent oil futures lost 3.57% to $25.66 by 9:50 PM ET (2:50 AM GMT)…
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Multinational - May 01, 2020
Oil markets edged higher on Friday, as OPEC and its allies began a record output cut. However, the gains are tentative amid worries about the potential of another trade…
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Multinational - April 29, 2020
Oil was up on Wednesday morning in Asia after the American Petroleum Institute (API) estimated an almost 10-million-barrel build in crude oil inventories for the week…
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Multinational - April 28, 2020
Oil continued its drop on Tuesday morning in Asia even as it clawed back its losses from the previous session.
Brent oil futures fell 2.22% to $22.51 by 9:48 PM ET…
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NEWS
Multinational - April 27, 2020
Oil fell on Monday morning in Asia, giving up its gains from the previous session.
Brent oil futures fell 2.18% to $24.27 by 9:45 PM ET (2:45 AM GMT) and WTI futures…
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Interview
Oman - April 21, 2020
The Energy Year talks to Said Al Maskery, director at Composite Pipes Industry (CPI), about the overall industry sentiment in Oman following the Covid-19 restrictions…
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Multinational - April 21, 2020
Oil prices were up on Tuesday morning as investors pick up the pieces after a shock session that saw negative prices on a futures contract for the first time since…
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