NEWS
Multinational - June 07, 2021
Oil was down Monday morning in Asia, as investors await talks between Iran and world powers later in the week that could lead to increased Iranian supplies
Brent…
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 MOREMost popular
NEWS
Multinational - June 02, 2021
Oil was up Wednesday morning in Asia, remaining at the highest level since Oct. 2018, as the Organization of the Petroleum Exporting Countries and its allies (OPEC+)…
READ MORE
NEWS
Multinational - June 01, 2021
Oil was up Tuesday morning in Asia as the fuel demand outlook in the US, China, and parts of Europe improved thanks to the ongoing economic recovery from…
READ MORE
NEWS
Multinational - May 31, 2021
Oil was up Monday morning in Asia on the back of an ever-brightening fuel demand outlook. Investors also now turning their focus to the Organization of the Petroleum…
READ MORE
NEWS
Multinational - May 28, 2021
Oil was up Friday morning in Asia, ending the week by extending gains from the highest close in more than two years. Optimism as US fuel demand continues to increase…
READ MORE
NEWS
Multinational - May 24, 2021
Oil was up Monday morning in Asia, with investor sentiment boosted by signs of the US’ continuing economic recovery from Covid-19 and the improved outlook for fuel…
READ MORE
NEWS
Multinational - May 12, 2021
Oil was up Wednesday morning in Asia after data showed a larger-than-expected draw in US crude supplies and the Organization of the Petroleum Exporting Countries (OPEC)…
READ MORE
Interview
Nigeria - May 05, 2021
Sola Adepetun, partner at ACAS-Law, talks to The Energy Year about issues preventing Nigeria’s oil industry from attracting higher levels of investment, the financial…
READ MORE
NEWS
Multinational - May 04, 2021
Oil inched up Tuesday morning in Asia as investors remained optimistic the continued economic recovery in regions such as Europe and the US will boost fuel demand.…
READ MORE
