NEWS
Multinational - April 24, 2019
Oil prices fell on Wednesday in Asia and gave up some of their gains from earlier in the week after the US decided to end sanctions exemptions for major…
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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 - April 23, 2019
Oil prices traded higher on Tuesday in Asia and are near six-month highs following reports that the White House decided not to extend waivers for all oil buyers that…
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NEWS
Multinational - April 19, 2019
The guessing game begins. With exactly two weeks to the expiration of the US sanction waivers on Iran, oil bulls are holding tight to see which way President Donald…
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NEWS
Multinational - April 17, 2019
Oil prices gained on Wednesday in Asia amid signs of steady demand growth in China and data that showed an unexpected fall in US crude stocks.
US Crude Oil WTI…
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NEWS
Multinational - April 16, 2019
Oil prices traded lower on Tuesday in Asia on reports that Russia wants to end the current deal on output restraint in June.
US Crude Oil WTI Futures slipped 0.1% to…
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NEWS
Multinational - April 15, 2019
Oil prices fell on Monday in Asia but still surged by more than 30% year-to-date. The Libya conflict is back under the spotlight today.
US Crude Oil WTI Futures fell…
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NEWS
April 12, 2019
Oil prices gained on Friday in Asia as the International Energy Agency’s (IEA) said there are signs of tightening supply.
US Crude Oil WTI Futures rose 0.4% to…
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NEWS
Multinational - April 11, 2019
The International Energy Agency said Thursday that oil markets have tightened this year, thanks to OPEC-led production curbs and US sanctions on Iran and Venezuela, but…
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NEWS
Multinational - April 09, 2019
Oil prices gained on Tuesday in Asia and traded near a 5-month high, supported by concerns on Libya supply disruptions.
US Crude Oil WTI Futures was up 0.2% to…
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