NEWS
Multinational - February 26, 2019
Oil prices continue to slide after slumping 3% in the previous session as U.S. President Donald Trump tweeted that oil prices were too high and the Organization of the…
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BACK TOCOMPANIES
OPEC
H.E. Haitham AL GHAIS
Secretary-General
OPEC
Saudi Arabia’s strategic vision and commitment to collaboration will undoubtedly continue to play a key role in OPEC’s ability to navigate the evolving global energy landscape.
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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
USA - June 12, 2026
Josh Sherman of the Houston Producers Forum talks about Houston’s growing pull as energy security concerns and growing LNG and…
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NEWS
Canada - June 10, 2026
ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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NEWS
UAE - May 12, 2026
ADNOC Drilling is prepared to expand the UAE’s oil production capacity beyond 5 million bopd by 2027 as the country advances…
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NEWS
UAE - April 29, 2026
The UAE has announced it will leave OPEC, potentially clearing the way for higher production outside OPEC quotas and dealing a…
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NEWS
Multinational - February 25, 2019
Oil futures pulled back on Monday, after US President Donald Trump took to Twitter to slam OPEC about pushing prices higher.
“Oil prices getting too high. OPEC,…
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Interview
Multinational - March 01, 2019
H.E. Mohammad Sanusi Barkindo, secretary-general of OPEC, talks to TOGY about the role of member countries in reducing greenhouse gas emissions, projections for future…
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NEWS
Multinational - February 21, 2019
Oil prices rose on Thursday in Asia amid some positive trade news that suggested the US and China would be able to reach a deal to resolve their long-running trade…
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NEWS
Multinational - February 20, 2019
Oil prices were mixed on Wednesday in Asia, with Brent futures pulling-back from three-month highs as traders await more news on the Sino-US trade front.
US Crude…
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NEWS
Multinational - February 19, 2019
Oil prices were mixed on Tuesday in Asia as traders awaited developments from a fresh round of Sino-US trade discussions getting underway later in the day.
US Crude…
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NEWS
Multinational - February 18, 2019
Oil prices hit their highest levels in three months on Monday on evidence of supply reductions and on hopes that the U.S. and China may resolve their trade…
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NEWS
Multinational - February 15, 2019
The good news is flowing in from all corners for oil bulls. Trade talks in Beijing, outage at the biggest Saudi oilfield and commodities merchant Trafigura’s apparent…
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NEWS
Multinational - February 13, 2019
Crude oil prices gained on Wednesday, despite data showing that oil supplies in the US registered a larger-than-expected inventory build.
Crude oil for March…
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