NEWS
Multinational - January 12, 2018
Crude oil prices pulled back on Friday, as investors locked in profits from the commodity’s climb to a three-year high in the previous session amid overall optimism…
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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 - January 11, 2018
Crude prices continued higher on Thursday, with the U.S. benchmark hitting its strongest level since December 2014 amid optimism over shrinking U.S. stockpiles.
U.S.…
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NEWS
Multinational - January 09, 2018
Crude oil prices remained supported near multi-year highs on Tuesday, still boosted by a decline in U.S. oil rigs and supply cuts by major oil producers.
The U.S.…
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NEWS
Multinational - January 08, 2018
Crude oil prices were hovering near recent multi-year peaks on Monday, helped by news of a decline in U.S. oil rigs, although ongoing concerns over rising U.S.…
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NEWS
Multinational - January 05, 2018
Crude oil prices retreated on Friday, as investors grew more cautious ahead of the weekend, but the commodity was still close to multi-year highs following positive…
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NEWS
Multinational - January 03, 2018
Crude oil prices climbed to fresh multi-year highs on Wednesday, as supply cut efforts by global oil producers continued to support the commodity despite ongoing…
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NEWS
Multinational - January 02, 2018
Crude oil prices were hovering at multi-year highs on Tuesday, as unrest in Iran sparked concerns over potential supply disruptions in the region and as supply cut…
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NEWS
Multinational - December 28, 2017
Oil prices registered cautious trade on Thursday, wavering between gains and losses, as investors looked ahead to official weekly inventory data.
The U.S. West Texas…
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NEWS
Multinational - December 26, 2017
Crude prices turned higher in morning trade on Tuesday on reports of an attack on a Libyan oil pipeline.
The U.S. West Texas Intermediate crude February contract…
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