NEWS
Multinational - February 26, 2020
Oil prices steadied on Wednesday in Asia, but virus fears continued to weigh as the spreading showed no signs of slowing.
US Crude Oil WTI Futures gained 0.2% to…
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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 24, 2020
The beginning of 2020 was dogged by the coronavirus epidemic and its effect on global oil demand. The price of a barrel of crude oil has fallen 15% since the outbreak…
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NEWS
Multinational - February 24, 2020
Oil prices slid on Monday in Asia amid signs that the global coronavirus outbreak has worsened.
US Crude Oil WTI Futures fell 2.4% to $52.11 by 12:13 AM ET (04:13…
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NEWS
Multinational - February 19, 2020
Oil prices gained more than 1% on Wednesday in Asia despite ongoing concerns surrounding the coronavirus outbreak.
US Crude Oil WTI Futures gained 1.1% to $52.86 by…
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NEWS
Multinational - February 14, 2020
Oil prices steadied on Friday in Asia amid possibility of deeper supply cuts from major producers.
US Crude Oil WTI Futures inched up 0.1% to $51.48 by 12:30 AM ET…
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NEWS
Multinational - February 13, 2020
Oil prices were mixed on Thursday in Asia after jumping more than 2% in the previous session amid hopes that China was gaining traction on its fight against the…
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NEWS
Multinational - February 10, 2020
Oil prices steadied on Monday in Asia after posting a fifth straight weekly loss.
US Crude Oil WTI Futures inched up 0.1% to $50.37 by 1:27 AM ET (05:27 GMT), while…
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NEWS
Multinational - February 07, 2020
Oil prices gained on Friday in Asia but is set to record their fifth straight weekly loss amid worries surrounding the recent coronavirus outbreak in China.
US Crude…
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NEWS
Multinational - February 06, 2020
Oil prices rose on Thursday in Asia amid reports on possible treatment for the coronavirus in China.
US Crude Oil WTI Futures rose 2.2% to $51.86 by 11:50 PM ET…
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