H.E. Haitham AL GHAIS
Secretary-General
OPEC
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.
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
Years active as of 2020:60
Number of member states:13
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ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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Oil prices edged up on Monday amid reports that Saudi Arabia pumped fewer crude barrels in July, while the U.S. saw a drop in active drilling rigs, Baker Hughes’…
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Crude…
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Oil prices traded lower on Tuesday, heading for a sharp monthly decline, as concerns over escalating supply returned to the forefront.
New York-traded West Texas…
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Oil prices traded higher early in Europe on Friday, as comments that Saudi Arabia would reduce exports in August tempered fears of oversupply.
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Oil prices rebound on Thursday, with Brent crude gaining more than USD 1 after its biggest one-day drop in two years in the previous session.
Crude Oil WTI…
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Crude oil prices rose on Tuesday amid supply shortages, as Iran vowed to sell as much oil as it could.
West Texas Crude oil futures rose 0.84% to $74.47 a barrel as…
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