The United Arab Emirates announced it will leave the OPEC cartel and the wider OPEC+ group as of next month amid cooler relations with other members, particularly Saudi Arabia.
Demian Bio
Apr 28, 2026
Examining the long‑term consequences if the United States maintains control of Venezuela's oil wealth, from global supply shifts and price effects to geopolitical power and economic change.
Marty Vergel Baes
Jan 07, 2026
The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output.
AFP News
Nov 29, 2024
Oil company scion John Hess allegedly 'communicated publicly and privately with OPEC representatives and oil ministers of OPEC member states.'
Bruce Golding
Sep 30, 2024
Oil prices rose over 1% on Friday ahead of an OPEC+ decision on production cuts, driven by market expectations of supply constraints and geopolitical tensions in the Middle East.
Jarin Noshin
Mar 01, 2024
US oil output continues to reach new heights; Houthi attacks in the Red Sea persist; OPEC's eighth-largest producer is leaving the cartel.
Jack Quinn
Jan 03, 2024
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries (OPEC) and its ten allies have struggled to boost flagging prices.
AFP News
Dec 19, 2023
Record domestic oil output is driving down gas prices.
Jack Quinn
Dec 13, 2023
A draft of the UN climate conference's joint memorandum included non-compulsory methane emissions reductions and no mention of the oil industry.
Jack Quinn
Dec 12, 2023
OPEC+ will reportedly expand existing production cuts; oil prices are up as a major climate summit gets underway.
Jack Quinn
Nov 30, 2023
OPEC's Secretary General loudly defended continued investments in oil and gas on Monday, just days before the beginning of COP28 in Dubai.
Jack Quinn
Nov 28, 2023
U.S. housing data, manufacturing in China and earnings of retailers and Canadian banks are also scheduled for the next few days.
Helder Marinho
Nov 26, 2023
OPEC+ pushed its November meeting back by four days in a possible sign of disunity in the oil cartel.
Jack Quinn
Nov 22, 2023
Member countries of OPEC+ have collectively reduced their operational oil capacity by 5.2 million barrels per day in 2023, constituting approximately 5% of global oil production.
Jack Quinn
Nov 20, 2023
Exxon opened a third offshore development in Guyana on Tuesday, accelerating the small South American country's rapid rise in oil production.
Jack Quinn
Nov 14, 2023
Oil production and demand are both on the rise, according to the IEA, marking a contrast from the organization's "peak oil" proclamation in October.
Jack Quinn
Nov 14, 2023
Despite mounting efforts to limit climate change, the OPEC oil cartel said Monday it expects demand for crude to continue to grow for the next two decades.
AFP News
Oct 09, 2023
An OPEC+ panel recommended Wednesday that the oil cartel keep its current output reduction strategy unchanged after heavyweights Saudi Arabia and Russia vowed to maintain their cuts to prop up prices.
AFP News
Oct 04, 2023
There are growing signs that major oil producers led by Saudi Arabia and Russia are considering slashing production further when they meet on Sunday in a bid to prop up prices.
AFP News
Jun 03, 2023
In April, countries were caught off guard when several OPEC+ members agreed to voluntarily cut production by more than one million barrels per day (bpd), which briefly buttressed prices but failed to bring about lasting recovery.
AFP News
Jun 02, 2023
U.S. retail gasoline prices are expected to average around $3.50 per gallon this summer, peaking between $3.60 per gallon and $3.70 per gallon in June.
Reuters
Apr 11, 2023
Saudi Arabia's and Russia's power to set oil prices may have surprised some, as the U.S, not Saudi Arabia, is the world's largest oil producer these days.
Panos Mourdoukoutas Ph.D.
Apr 10, 2023
