The Arab oil producer has long expressed frustration with the quotas it has to follow as part of OPEC, the cartel of major ...

The UAE has been a member of the oil cartel since the country was founded in 1971, but in recent years, it has grown ...

OPEC has weakened with the exit of United Arab Emirates, losing a key producer with spare capacity and reducing its ability ...

・OPEC initially began with five countries, which are Iran, Iraq, Venezuela, Saudi Arabia, and Kuwait, to end the dominance of the so-called ‘seven sisters’ Western oil companies and maintain stable ...

Many groups, including the International Energy Agency, predict that the world’s peak oil production is close, and global oil demand will drop starting in the next decade as more renewables come ...

Oil producers in the OPEC+ group this weekend confirmed they will hold output levels flat in the first quarter of next year. This comes after the group spent most of this year increasing oil ...

The decision by the United Arab Emirates to leave the OPEC oil cartel has shaken up the 65-year-old alliance that produces ...

Kazakhstan, which participates in OPEC+ but is not an OPEC member, said it does not plan to change its cooperation format ...

LONDON, Feb 11 (Reuters) - OPEC on Wednesday forecast world oil demand from the OPEC+ group will drop by 400,000 barrels per day in the second quarter, and published data indicating a small surplus in ...

LONDON, Dec 11 (Reuters) - World ‌oil supply will match ‌demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International ‍Energy ...

The biennial OPEC Seminar conference took place over July 9-10 at the Hofburg palace in Vienna. Key attendees included Saudi Prince and Energy Minister Abdulaziz bin Salman, along with a slew of other ...