Opec News

This article discusses the historical Baghdad meeting on this day in 1960 that led to the formation of OPEC, an organization created to unify petroleum policies

Oil prices have surged past $100 per barrel, reaching $107, due to ongoing supply disruptions from attacks on Middle East shipping routes, with future prices de

Diesel prices in California are surging to such highs that some pumps are maxing out their displays at $9.999 per gallon, with the state's average hitting $7.91

Oil prices surged 5%, with Brent and US crude exceeding $100 a barrel, due to escalating US-Iran tensions and tanker attacks raising fears of wider supply disru

OPEC has again lowered its 2026 global oil demand growth forecast to 380,000 barrels daily, marking the fifth consecutive downward revision. Despite this, the o

Oil prices are nearing $100 a barrel, with OPEC's significant influence stemming from its large share of global crude production and international oil exports.

Iraq is experiencing severe petrol shortages due to regional conflicts disrupting fuel imports through the Strait of Hormuz. The OPEC member, heavily reliant on

Venezuela is reportedly considering leaving OPEC, the oil cartel it co-founded over six decades ago, as it seeks to strengthen ties with the United States.

As of August 20, 2026, Brent crude oil reached $95.40 per barrel, an increase of $1.80 from the previous day. The article explains the factors influencing oil p

Crude oil prices dipped below $90 despite the Strait of Hormuz deadlock, as OPEC and the IEA both cut their global oil demand growth forecasts for 2026.

Oil prices have fallen due to reduced global demand forecasts from Opec and the IEA, alongside increased US inventories. Ongoing tensions in key shipping strait

OPEC's oil production increased to 19.85 million barrels per day in July, driven by Gulf nations resuming supplies and significant gains from Iraq. Iran also bo

After leaving OPEC, the UAE is empowering its state-oil company Adnoc to pursue a more assertive and expansive strategy in the global oil market.

Major OPEC nations have tentatively agreed to a small increase in their oil production quotas for September, aiming to complete the theoretical revival of halte

SLB, the world's largest oilfield services company, is positioned to capitalize on the rebound in the Middle East's oil and gas sector following the Strait of H

The influence on oil prices is shifting from OPEC's production levels to China's demand as the largest importer, especially as the US-Iran truce becomes fragile

Renewed US strikes on Iran have caused Brent crude prices to rise above $79 per barrel, sparking concerns about global oil supply disruptions. A discussion with