In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.

OPEC explained that it was required for better reflection of the gap between supply from OPEC+ countries and non-OPEC+ nations. In particular, non-OPEC+ countries will boost oil supplies by 1.2 ...

Nigeria has successfully reached its OPEC oil production targets after years of falling short, according to a top official ...

Low demand in China and an ongoing production boom among non-OPEC members have made it difficult for the cartel to achieve higher prices. Still, given that OPEC economies are highly dependent on ...

LONDON, March 5 (Reuters) - OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output ...

Other African OPEC members include Congo ... gaps in citizens’ access to clean cooking fuel and electricity. He explained that for Nigeria, gas is not just a transition fuel but a better ...

Kazakhstan hiked February output to record high, source says OPEC+ to boost output by 138,000 bpd in April Trump wants OPEC to produce more oil DUBAI/MOSCOW/LONDON, March 4 (Reuters) - As OPEC+ ...

OPEC rolled over its 29.67mn b/d output target at its 5 March Vienna meeting. Ministers were unmoved by appeals from consumers, including US president George W Bush, for action to bring down record ...

He explained that OPEC's priorities include supporting and ensuring global oil market stability to secure reliable, cost-effective, and regular petroleum supplies for consumers, a steady income for ...