Organization of the Petroleum Exporting Countries

COP28 summit: Draft climate deal falls short of fossil fuel 'phase-out'

12 Dec 2023

As the COP28 summit in Dubai, UAE approaches its final day, the latest draft text, issued by President Sultan Al Jaber, has refrained from addressing the phasing out of fossil fuels.

Plea for action as COP 28 talks hit the oil hurdle

10 Dec 2023

OPEC’s biggest producer Saudi Arabia and the biggest non-Opec producer Russia and other oil exporters want climate talks to focus on emissions and not on what causes them

Opec+ decides to cut production despite Russia’s objection

09 Sep 2022

Opec output cut threat fails to boost oil prices

06 Dec 2019

While the move is widely seen as aimed at boosting the initial public offer (IPO) of Saudi Arabia’s state-owned oil producer Saudi Aramco, some market participants also believe the market is approaching the top of an important range above which oil needs more stimulus to push ahead

Oil climbs as Opec, Russia agree to extend output deal

12 Sep 2019

Opec talks deadlock as Saudi refuses to give concessions to Iran

07 Dec 2018

Iran warns Opec against indecision on output cut

06 Dec 2018

Qatar to quit Opec in January, to focus on gas exports

04 Dec 2018

Qatar, the world’s largest exporter of liquified natural gas, plans to increase gas exports from 77 million tonnes per year to 110 million tonnes, while also raising its oil production from 4.8 million barrels to 6.5 million barrels

Opec agrees to raise output by 1 mn barrels per day

23 Jun 2018

Opec members agreed to a deal on Friday to increase oil supplies by about 1 million barrels of oil per day, equivalent to an increase of 1 per cent of global supplies

Dharmendra Pradhan calls on Opec to make oil affordable

21 Jun 2018

India, China plan oil buyers’ block to counter Opec

14 Jun 2018

While the two countries compete in the acquisition of oil assets overseas, India and China have a common interest in keeping oil import prices low, considering its impact on domestic economies

Oil prices down, but firm despite Opec uncertainty and US threat

06 Jun 2018

Oil prices rise on hopes for Opec production deal

26 Sep 2016

OPEC meet fails to agree on output curbs

03 Jun 2016

Despite the setback, Saudi Arabia moved to soothe market fears that failure to reach any deal would prompt it to raise production further to punish rivals and gain additional market share

Opec output hit 3-year high in November

11 Dec 2015

OPEC agrees to keep output at current level for 2012

14 Dec 2011