The Organization of the Petroleum Exporting Countries is a cartel  of twelve countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.

OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter in the world again.

Articles About OPEC

The Energy Report - $85 or Bottom!!!!

By PFG Best

Ok, I know it was just two weeks ago when I wrote $100 or go bust and last Friday when I wrote $90 or go bust but now I am saying that crude could be ending its epic slide. That is as long as $85 holds. You see in was just three weeks ago when oil was solidly above $100 a barrel. (May 25)

MORE TOPICS: GERMANY, NUCLEAR WEAPONS

Brent steady at $106 as economy worry lingers

By Reuters

Brent crude futures held steady at $106 a barrel on Friday, but was on track for a fourth weekly loss and the longest losing streak since early 2010, as investors were jittery over signs of slowing global economic growth blunting oil demand. (May 25)

MORE TOPICS: CHINA, CRUDE OIL, GERMANY, MANUFACTURING

Iran Hopes to Export Electricity to Cover for Reduced Oil Demand

By OilPrice.com

Against the backdrop of discussions about pending negotiations over its controversial nuclear program and the upcoming deadline of an European embargo on Iranian oil comes a quiet push by the Islamic republic to become a major electricity exporter. (May 23)

MORE TOPICS: IRAQ, HILLARY CLINTON, CRUDE OIL, NUCLEAR WEAPONS, RENEWABLE ENERGY

Brent rises above $109 ahead of EU summit, Iran talks

By Reuters

Brent crude gained slightly above $109 on Tuesday, as markets awaited the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could affect global oil demand and supply. (May 22)

MORE TOPICS: EUROPEAN UNION, ELECTIONS

Iran Oil
Saudi Arabia Now World’s Biggest Oil Producer in Six Years

By IBTimes AU

Saudi Arabia has eclipsed Russia as the world's biggest oil producer first time in six years after the country in the Middle East jacked up its crude output to a 31-year high in March. (May 21)

MORE TOPICS: CRUDE OIL, JAPAN, RUSSIA, INDIA

Oil barrels
Caspian Sea Yields Oil, Iran Discovers Anew

By IBTimes AU

For the first time ever after more than a century, Iran discovered oil in the waters of the Caspian Sea, state-run FARS news agency reported. (May 20)

MORE TOPICS: DUBAI, CRUDE OIL, MANAGEMENT

Weekly Fundamentals - Crude's Downside Remains as Eurozone Turmoil Expected to Pressurize Equities

By Oil N'Gold

Possibility of Greece's exit from the Eurozone and downgrades of the banking system in other peripheral economies have clouded the financial markets over the past week. While the preliminary data showed that the 17-nation region recorded better-... (May 19)

MORE TOPICS: GOLD, DEUTSCHE BANK, CRUDE OIL, GDP

Brent steady above $107, heads for weekly fall as Europe weighs

By Reuters

Brent crude held steady above $107 per barrel on Friday, but prices were headed for a third straight weekly drop as a worsening euro zone crisis and weak U.S. economic data raised fears of a global slowdown that could dent oil demand. (May 18)

MORE TOPICS: CRUDE OIL, WHITE HOUSE, STORM

Oil drops $1 on U.S. stockbuild, Greece; WTI hits 6-month low

By Reuters

Oil fell more than $1 on Wednesday, with the U.S. benchmark dropping to a more than 6-month low, as a larger-than-expected rise in crude stocks in the United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth. (May 16)

MORE TOPICS: CHINA, BARCLAYS

The Energy Report - Getting More Bearish

By PFG Best

If China can't give the oil market a bounce with a bank reserve requirement cut, then it would appear that oil is just surrendering to the increasingly bearish fundamentals. Greek fears are trumping Chinese stimulus against a backdrop of surging... (May 14)

MORE TOPICS: CHINA, CITIGROUP, BANK OF AMERICA, JPMORGAN CHASE, UBS AG, MANAGEMENT

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