NEWS
Multinational - May 27, 2019
Oil prices continued to fall on Monday in Asia and extended losses from last week that came after an unexpected jump in crude stockpiles.
US Crude Oil WTI Futures…
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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 - May 22, 2019
Oil prices fell on Wednesday in Asia amid comments by Saudi Arabia that said it would “do everything in its power” to prevent further conflict between Iran and the…
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NEWS
Multinational - May 21, 2019
Oil prices continued to rise on Tuesday in Asia, but gains were capped by concerns over the intensifying trade war between China and the US.
US crude oil WTI futures…
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NEWS
Multinational - May 20, 2019
Oil prices jumped on Monday in Asia after OPEC+ members indicated intentions to maintain production cuts for the rest of the year.
US Crude Oil WTI Futures rose 1.3%…
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NEWS
Multinational - May 16, 2019
Oil prices extended gains on Thursday in Asia amid tensions in the Middle East linked to stealth attacks on Saudi oil tankers and pipelines.
US Crude Oil WTI Futures…
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NEWS
Multinational - May 03, 2019
Oil prices fell on Friday in Asia and extended losses from earlier this week amid larger-than-expected US crude production.
US Crude Oil WTI Futures were down 0.4%…
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NEWS
Multinational - May 01, 2019
Crude prices rose as much as 1% on Tuesday after Saudi Energy Minister Khalid Al-Falih told Russian state news agency RIA that Riyadh won’t rush to fill a supply…
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NEWS
Multinational - April 30, 2019
Oil prices continued to drop on Tuesday in Asia amid pressure on OPEC from US President Donald Trump to raise output to offset a supply shortfall expected from tighter…
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NEWS
Multinational - April 29, 2019
Oil prices fell on Monday in Asia, pressured by reports that US President Donald Trump asked the Organization of the Petroleum Exporting Countries (OPEC) to lower oil…
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