OPEC
org_international
OPEC is an international organization that coordinates oil production quotas among its member countries, influencing global oil markets. Recent developments include the UAE's exit from OPEC and OPEC+, internal tensions with Iraq over quota increases, and ongoing adjustments to production limits due to geopolitical disruptions such as the closure of the Strait of Hormuz. The group continues to project long-term demand growth, forecasting a rise in global oil demand to 124 million barrels per day by 2050.
Events
- Current OPEC assessments of global oil demand
- On October 4, Russian Deputy Prime Minister Alexander Novak
- The situation on global oil markets remains tense
- Ministers of seven OPEC+ countries (Russia, Saudi Arabia, Algeria
- Brent oil drops below $96 per barrel
- According to the IEA, Russia's crude oil production fell by 200,000…
- OPEC Cuts 2026 Oil Demand Forecast
- US President Donald Trump stated that after concluding an oil deal…
- OPEC+ Seven Keeps Oil Output Quotas Steady
- China Takes Oil Market Initiative from OPEC
Recent coverage
- Report on assessing the capacities of OPEC+ countries will be ready by the end of 2026 — Интерфакс
- Brent remains in the negative and trades at $105.9 per barrel — Интерфакс
- Oil production in Russia fell for the 10th consecutive month due to Ukrainian strikes — The Moscow Times
- OPEC almost cut global oil demand growth forecast for 2026 by 8 times — The Moscow Times
- OPEC lowered oil demand growth forecast to 180 thousand barrels per day — Коммерсантъ
- OPEC again maintains estimates of growth in liquid hydrocarbon (LHC) exports from non-OPEC+ countries in 2026 — Интерфакс
- OPEC again lowered forecast for growth in global oil demand in 2026 — Интерфакс
- OPEC: costs for transportation and insurance exceeded one-third of the product's value — Ведомости
- Oil supply disruptions led to unprecedented rise in insurance and transport costs. — ТАСС (Telegram)
- Novak stated that the crisis on global markets will be overcome — Вести
- Monitoring Committee of OPEC+ Condemns Attacks on Energy Infrastructure — Интерфакс
- Seven-member OPEC+ decided to keep current oil production quotas for November — Интерфакс
- In Kazakhstan's Ministry of Energy, they have assured that there are no plans to exit OPEC+ — Интерфакс
- What is happening with OPEC and oil prices? — Вечерняя Москва
- Russia reduced oil production by 160 thousand b/d in August — Вести
- OPEC again worsened forecast for growth in global oil demand in 2026 — Коммерсантъ
- OPEC lowered forecast for global oil demand growth in 2026 by 200 thousand barrels per day — Интерфакс
- Trump: US surpassed OPEC in oil production — Коммерсантъ
- Trump says US has become stronger in the oil sector than OPEC — Интерфакс
- Expert states that the influence of OPEC and OPEC+ on the global oil market has weakened — Вести