NEWS
USA - September 11, 2017
U.S. oil futures remained higher on Monday, while Brent futures lost some ground as concerns over the impact of Hurricane Irma on the oil industry eased and amid talk…
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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
Libya - August 30, 2017
Three Libyan oilfields have gone offline and output has declined by 360,000 bopd after militia violence, the country’s NOC announced on Wednesday.
The Rayayina…
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Interview
Argentina - August 28, 2017
Ernesto Díaz, Wood Mackenzie’s regional director in Latin America, talks to TOGY about the differences between developing projects in Vaca Muerta and the Permian…
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NEWS
USA - August 28, 2017
Oil prices edged lower on Monday, while gasoline futures soared to their highest since July 2015, as energy markets digested the impact of Hurricane Harvey on the U.S.…
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NEWS
Multinational - August 25, 2017
Crude oil prices moved higher on Friday, as energy companies pulled workers from offshore oil platforms and halted onshore drilling in south Texas in preparation for…
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NEWS
Multinational - August 24, 2017
Crude oil prices remained lower on Thursday, as news on Wednesday of increasing U.S. production levels added to concerns over a global supply glut.
The U.S. West…
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NEWS
Multinational - August 22, 2017
Crude oil prices slipped lower on Tuesday, as investors were eyeing the weekly data from the U.S. on stockpiles of crude and refined products due later in the…
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NEWS
Multinational - August 18, 2017
Oil prices moved higher on Friday, bouncing off the previous session’s three-week lows, but gains were expected to remain limited by ongoing converns over rising U.S.…
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NEWS
Multinational - August 17, 2017
Oil prices turned lower after a brief rebound on Thursday, to trade at a more than three-week trough after strong U.S. data boosted demand for the greenback and as…
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