NEWS
Saudi Arabia - October 02, 2017
Saudi Arabia and Russia are negotiating a USD 1-billion investment fund that would deepen their co-operation in energy projects, Russian Energy Minister Alexander Novak…
READ MORE
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.
READ MORE
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…
READ MORE
Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
READ MORE
Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
READ MORE
NEWS
Multinational - October 02, 2017
Crude oil prices extended losses on Monday, as optimism surrounding an apparent re-balancing of the market began to fade following news of an increase in Iraqi…
READ MORE
NEWS
Multinational - September 29, 2017
Crude oil prices remained supported near multi-month highs on Friday, as traders remained globally optimistic regarding the re-balancing of the market.
The U.S. West…
READ MORE
NEWS
Multinational - September 25, 2017
Crude oil prices rallied to their best levels in months on Monday, as optimism that the market was well on its way towards rebalancing added to bullish…
READ MORE
NEWS
Multinational - September 22, 2017
Crude oil prices edged higher on Friday, as traders awaited the conclusion of a highly-anticipated meeting of the Organization of the Petroleum Exporting Countries in…
READ MORE
NEWS
Multinational - September 21, 2017
Crude oil prices turned lower on Thursday, as traders finally reacted to the previous session’s downbeat U.S. stockpiles data and as markets were cautious ahead of a…
READ MORE
NEWS
Multinational - September 20, 2017
Crude oil prices continued to climb on Wednesday, amid hopes for additional global supply cuts, while traders eyed the release of weekly U.S. stockpiles data due later…
READ MORE
NEWS
Multinational - September 19, 2017
Crude oil prices rose back toward the five-month highs seen last week on Tuesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and…
READ MORE
NEWS
Multinational - September 14, 2017
Crude oil prices were hovering at multi-month highs on Thursday, as news of a decline in global oil production continued to support the commodity.
The U.S. West…
READ MORE
