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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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Canada - June 10, 2026
ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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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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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
Oman - December 14, 2018
Oman will cut its oil output for six months starting in January, international media reported on Friday.
Though it is not a member of OPEC, the country will join…
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Multinational - December 11, 2018
Oil prices edged up on Tuesday in Asia after falling 3% in the previous session as a cut promised by Saudi Arabia and its allies in the enlarged OPEC+ failed to boost…
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Nigeria - December 11, 2018
Nigerian oil minister Emmanuel Ibe Kachikwu has said the country did not seek an exemption from the OPEC production cut, local media reported Monday.
“We didn’t…
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Multinational - December 06, 2018
Oil prices fell on Thursday. Energy traders weighed prospects for coordinated production cuts as a closely watched meeting of =OPEC and its allies got underway in…
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NEWS
Multinational - December 05, 2018
Oil prices fell on Wednesday, amid signs of swelling U.S. inventories, though losses were limited as traders continued to weigh prospects of a coordinated production…
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Qatar - December 03, 2018
Qatar will withdraw from OPEC on January 1, 2019, the country’s top energy official told a news conference on Monday.
Saad Sherida Al Kaabi, who serves as CEO of…
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NEWS
Nigeria - November 28, 2018
Nigerian Minister of State for Petroleum Resources Emmanuel Kachikwu and Saudi Arabian Energy, Industry and Mineral Resources Minister Khalid A. Al Falih are set to…
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