NEWS
Multinational - September 10, 2019
Oil prices extended gains on Tuesday in Asia as newly appointed Saudi energy minister Prince Abdulaziz bin Salman hinted his commitment to production cuts.
US Crude…
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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 - September 09, 2019
Oil prices gained on Monday in Asia after Saudi Arabia appointed a new energy minister over the weekend.
US Crude Oil WTI Futures rose 1.2% to $57.18 by 12:54 AM ET…
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NEWS
Multinational - September 04, 2019
Brent Oil Futures, traded in London, rose 0.21%, to $58.38 a barrel by 12:25AM ET (04:25 GMT), while US Crude Oil WTI Futures traded in the US gained 0.37%, to $54.14…
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NEWS
Multinational - September 02, 2019
Oil prices dropped on Monday as new tariffs on both the US and China trade dispute took effect, adding to concerns over an already-gloomy global economic outlook and…
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NEWS
Multinational - August 28, 2019
Oil prices gained on Wednesday in Asia as the American Petroleum Institute (API) reported that U.S. crude inventories fell more than expected.
US Crude Oil WTI…
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NEWS
Multinational - August 23, 2019
Oil prices gained on Friday in Asia, but price movements were limited as traders await a speech by Federal Reserve Chairman Jerome Powell for more clues on US monetary…
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NEWS
Multinational - July 12, 2019
Oil prices rose on Friday in Asia after US oil producers cut more than half of Gulf of Mexico crude output due to Tropical Storm Barry, which is expected to make…
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NEWS
Multinational - July 08, 2019
Oil prices steadied on Monday in Asia. A better-than-expected US jobs report was cited as a tailwind for the markets.
US Crude Oil WTI Futures were up 0.2% to…
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