Organization of the Petroleum-Exporting Countries (OPEC)

Oil prices hit 2016 lows

Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend that has undermined attempts by OPEC and others to support the market through reduced output.

Rosneft CEO: OPEC agreement to end abruptly

Russian oil company Rosneft served notice that it would step up production if the agreement among major crude producers to curb output comes to a sudden end, Rosneft's chief executive, Igor Sechin, told the Financial …

 Sechin: everyone should join OPEC deal

Rosneft Chief Executive Officer Igor Sechin, speaking at the summit of the heads of energy companies within the framework of the St. Petersburg International Economic Forum, noted that the failure of all major oil-producing …

 Russia proposes to form super-OPEC

Russia proposed to work out new principles jointly with OPEC and non-OPEC nations to continue cooperation even after the current oil output cut deal expires, Russian Energy Minister Alexander Novak said. "It is …