NEWS
Multinational - July 04, 2019
Oil prices were down on Thursday in Asia after the Energy Information Administration (EIA) reported a set of bearish US crude inventories data.
US Crude Oil WTI…
READ MORE
BACK TOCOMPANIES
OPEC
H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
Read The Full Interview
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.
READ MORE
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…
READ MORE
Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
READ MORE
Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
READ MORE
NEWS
Multinational - July 02, 2019
Oil prices fell on Tuesday in Asia even after the OPEC agreed to extend production cuts by nine months.
The deal is subject to approval from non-OPEC allies, such as…
READ MORE
NEWS
Austria - July 01, 2019
Oil was up more than 2% this morning as OPEC met in Vienna following announcements from Saudi Arabia, Russia, Iraq and Iran that their leaders would agree to extend…
READ MORE
NEWS
Multinational - June 28, 2019
Oil prices dropped on Friday in Asia as traders remained wary of the outcomes of meetings Chinese leader Xi Jinping, Russia President Vladimir Putin of Russia and Saudi…
READ MORE
NEWS
Multinational - June 27, 2019
Oil prices were down on Thursday in Asia, erasing some of the strong gains made in the previous session as investors awaited the upcoming G20 summit in Japan and a…
READ MORE
NEWS
Multinational - June 26, 2019
Oil prices gained on Wednesday in Asia as data showed US crude inventories continued to shrink.
US Crude Oil WTI Futures were up 2% at $58.96. International Brent…
READ MORE
NEWS
Multinational - June 20, 2019
Oil prices traded higher on Thursday in Asia after official government data showed a larger-than-expected fall in US crude inventories.
US Crude Oil WTI Futures…
READ MORE
NEWS
Multinational - June 19, 2019
Oil prices edged up on Wednesday in Asia following reports that OPEC and its allies are close to agreeing on a date for their next meeting.
US WTI crude futures…
READ MORE
NEWS
Multinational - June 18, 2019
Oil prices fell on Tuesday in Asia as OPEC and its allies struggled to set a date for a meeting to discuss output policy.
US Crude Oil WTI Futures were down 0.2%…
READ MORE
