NEWS
Multinational - June 17, 2019
Oil prices gained on Monday in Asia amid Middle East tensions. US Crude Oil WTI Futures inched up 0.1% to $52.83 by 1:05 AM ET (05:05 GMT). International Brent Oil…
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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 - June 13, 2019
Oil prices recovered slightly on Thursday in Asia after a slump in the previous session on crude inventories data.
US Crude Oil WTI Futures were up 0.4% to $51.34 by…
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NEWS
Multinational - June 12, 2019
Oil prices were down on Wednesday in Asia as the US Energy Information Administration (EIA) cut its forecasts for 2019 world oil demand growth and the American…
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NEWS
Multinational - June 11, 2019
Oil prices climbed on Tuesday in Asia as US President Donald Trump’s decision to not impose tariffs on Mexican provided some residual support to the markets.
US…
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NEWS
Multinational - June 10, 2019
Oil prices extended gains on Monday in Asia after jumping more than 2% in the previous trading session on reports that the Organization of the Petroleum Exporting…
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NEWS
Multinational - June 06, 2019
Oil remained bearish on Thursday morning in Asia as the US reported record inventories, while demand continues to be threatened by economic slowdown and trade…
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NEWS
Multinational - June 05, 2019
A surprise rise in US inventories sent oil prices further down on Wednesday morning in Asia. In addition, Russian state oil producer Rosneft is also reportedly…
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NEWS
Multinational - May 31, 2019
Oil prices traded lower on Friday in Asia as data showed US crude inventories fell less than forecast last week.
The US Energy Information Administration said in its…
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NEWS
Multinational - May 28, 2019
Oil prices were mixed on Tuesday in Asia as traders weighed the latest development in the trade war between the US and China and continued support from OPEC’s supply…
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