Organization of the Petroleum-Exporting Countries (OPEC)

White House speaking with OPEC about oil prices

The White House is staying in communication with OPEC about oil prices and looking at every tool to address its cost, White House press secretary Jenn Psaki said on Tuesday after Brent crude topped $80 per barrel for the first time in nearly …

Biden calls on OPEC to increase production

U.S. President Joe Biden added to the pressure on the Organization of the Petroleum Exporting Countries, after one of his top advisers said earlier in the day that OPEC and its allies "must do more" to support the economic recovery. …

UAE denies reports on reaching tradeoff in OPEC+ deal

The OPEC+ countries have not yet agreed with the UAE on the parameters and conditions for a deal to soften oil production restrictions, and consultations are still underway, the UAE Ministry of Energy said. "We note recent media …

OPEC crisis and future of Saudi-UAE alliance

The coronavirus pandemic hit the global oil industry hard. As countries imposed severe restrictions on domestic and international travel and transportation, the global oil demand drastically declined and oil prices collapsed, …

Why Oil Prices Won’t Hit $100

A remarkable oil rally has seen oil prices climb almost 34 percent so far this year. Bullish sentiment is now driving speculation of $100 oil in 2021 as collective confidence of a rebound in global economic activity gains momentum. However, there …

OPEC to hold first in-person meeting in a year in Baghdad

Ministers of OPEC countries will have the first in-person meeting in a year on September 30, 2021, in the Iraqi capital to celebrate the occasion of the 60th OPEC Anniversary that has been postponed since last September, according to the …