NEWS
Multinational - November 12, 2019
Oil prices rebounded on Tuesday in Asia after falling in the previous session amid uncertainty over Sino-US trade progress.
US Crude Oil WTI Futures gained 0.3% to…
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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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NEWS
Multinational - November 11, 2019
Oil prices fell on Monday in Asia after US President Donald Trump said trade talks with China are moving along “very nicely,” but denied reports from last week that…
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NEWS
Multinational - November 08, 2019
Oil prices gave back some of their gains from earlier in the day after China said they are rolling back tariffs with the US.
Gao Feng, a spokesperson for China’s…
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NEWS
Multinational - November 07, 2019
Oil prices slipped on Thursday in Asia after the Energy Information Administration (EIA) reported that US oil inventories rose much more than market expected last…
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NEWS
Multinational - October 28, 2019
Oil prices fell on Monday in Asia despite positive Sino-U.S. trade developments.
The Office of the US Trade Representative (USTR) said on Friday that Beijing and…
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Kuwait - October 25, 2019
Emad Al Sultan, CEO of Kuwait Oil Company (KOC), talks to TOGY about how the company plans to reach Kuwait’s oil and gas production targets, advances made at the…
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NEWS
Multinational - October 25, 2019
Oil prices fell on Friday in Asia after gaining overnight amid a surprise weekly drawdown in US crude stockpiles.
US Crude Oil WTI Futures lost 0.6% to $55.91 by…
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NEWS
Multinational - October 24, 2019
Oil prices dropped on Thursday in Asia, erasing gains recorded following a surprise dip in US crude stockpiles.
US Crude Oil WTI Futures fell 0.8% to $55.50 by…
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NEWS
Multinational - October 23, 2019
Oil prices traded lower on Wednesday in Asia after data from the American Petroleum Institute (API) showed that US crude stockpiles rose last week.
US Crude Oil WTI…
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