NEWS
Multinational - December 10, 2019
Oil prices traded slightly lower on Tuesday in Asia amid demand worries and uncertainties surrounding the trade war between China and the US
U.S. Crude Oil WTI…
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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 - December 09, 2019
Oil prices dropped on Monday in Asia but are still near 12-week highs after OPEC+ agreed to bigger output cuts than expected.
US Crude Oil WTI Futures lost 0.5% to…
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NEWS
Multinational - December 06, 2019
Oil prices fell on Friday in Asia even after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to increase output cuts by nearly 50% in…
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NEWS
Multinational - December 05, 2019
Oil prices rose on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts aimed at supporting markets, while a sharp drop in US oil…
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NEWS
Multinational - December 02, 2019
Oil prices recovered on Monday amid China’s better-than-expected PMI data and expectations that the Organization of the Petroleum Exporting Countries (OPEC) and…
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NEWS
Multinational - November 29, 2019
Oil prices slipped on Friday in Asia but is set for a weekly gain ahead of a key OPEC+ meeting next week. Trading volume was reduced due to the US Thanksgiving…
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NEWS
Multinational - November 27, 2019
Oil prices traded lower on Wednesday in Asia after the American Petroleum Institute (API) reported that US oil inventories rose last week.
U.S. Crude Oil WTI Futures…
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NEWS
Multinational - November 25, 2019
US oil prices steadied on Monday in Asia as Sino-US trade talks continued to dominate markets action.
US Crude Oil WTIFutures inched up 0.2% to $57.90 by 12:35 AM…
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NEWS
November 22, 2019
Oil prices dropped on Friday in Asia despite news of likely extension of production cuts.
US Crude Oil WTI Futures fell 0.7% at $58.20 by 11:45 PM ET (03:45 GMT).…
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