NEWS
Multinational - April 08, 2019
Oil prices gained on Monday in Asia as the escalating conflict in OPEC producer Libya raised supply concerns.
US Crude Oil WTI Futures rose 0.5% to $63.43 by 11:15…
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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.
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.
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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 05, 2019
Oil prices slipped on Friday as a surprise surge in US crude inventories forced a change of direction now lasting three days.
New York-traded West Texas Intermediate…
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NEWS
Multinational - April 04, 2019
Oil prices fell on Thursday in Asia following reports that US crude oil inventories rose unexpectedly last week.
US Crude Oil WTI Futures was down 0.14% to $62.37 by…
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NEWS
Multinational - April 01, 2019
Oil prices gained on Monday in Asia amid supply concerns. The upcoming Sino-US trade talks in Washington is expected to receive some attention this week.
US Crude…
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NEWS
Multinational - March 29, 2019
Oil prices gained on Friday in Asia as traders shrugged off US President Donald Trump’s tweet about “too high” prices.
US Crude Oil WTI Futures rose 0.5% to…
NEWS
Multinational - March 28, 2019
Oil prices slid on Thursday after data showed an unexpected rise in US inventories.
US Crude Oil WTI Futures slid 0.3% to $59.23 by 12:30 AM ET (04:30 GMT).…
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NEWS
Multinational - March 27, 2019
Oil prices rose on Wednesday in Asia amid a second major blackout in Venezuela. Gains were limited as traders remained cautious on a slowing global economic…
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NEWS
Multinational - March 22, 2019
Oil prices were little changed on Friday in Asia as traders remained cautious amid the latest news on the Sino-US trade war.
US Crude Oil WTI Futures was unchanged…
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NEWS
Multinational - March 21, 2019
Oil prices were mixed on Thursday in Asia as the US Federal Reserve highlighted signs of a slowing economy and raised concerns of slowing economic growth.
US Crude…
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