Bringing Venezuela’s output under U.S. control has the potential to disrupt the power balance in the world market.

The eight OPEC+ members - Saudi Arabia, Russia, the UAE, Kazakhstan, Kuwait, Iraq, Algeria and Oman - raised oil output ...

The purpose of OPEC is to “coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply ...

DUBAI (Reuters) -Iran's President Masoud Pezeshkian urged OPEC members to unite against possible U.S. sanctions on the major oil producer, after U.S. President Donald Trump said he would seek to drive ...

Crude oil futures slumped to near multi-year lows after the Organisation of the Petroleum Exporting Countries (OPEC) and its allies announced a larger-than-expected production increase on Thursday, ...

Global oil markets are again showing the impact of emotions and misinterpretation. The so-called surprise production increase taken by eight (8) leading members of OPEC is, in principle, not relevant ...

OPEC's oil output fell in December due to lower supply from Iran and Venezuela, which offset an OPEC+ agreement to raise ...

OPEC has in the past managed to overcome serious internal rifts by prioritising market management over political disputes ...

Iran called on its OPEC peers to take united action against harsher enforcement of U.S. sanctions. Iran's weak position within OPEC and the broader Middle East makes stringent measures against the U.S ...

VIENNA—OPEC members are inching toward a compromise that could lead them to cut oil supply, as the producer group this week prepares for one of its most closely watched meetings in years. Saudi Arabia ...