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
- This year, China effectively took the initiative from OPEC and
- Venezuela is considering exiting OPEC, a move that could attract…
- OPEC Cuts 2026 Oil Demand Growth Forecast
- Brent oil surges past $96 on Middle East tensions
- OPEC+ decided to increase Russia's September oil production quota by…
- Lebanon proposed to Iraq a transit route for oil through the…
- At the end of the main trading session, the Moscow Exchange Index…
- OPEC+ member countries decided to increase oil production quotas by…
Recent coverage
- Sichin: China has taken the initiative from OPEC on the global oil market — Ведомости
- Schein: China has taken the initiative from OPEC in stabilizing the oil market — Коммерсантъ
- Future of OPEC — Рыбарь
- Trump stated that Venezuela must decide on its own whether to remain in OPEC — Интерфакс
- Expert explains why leaving OPEC is beneficial for Venezuela — Вести
- Expert explains how Venezuela's exit will affect OPEC — Вести
- Expert assessed the role of OPEC on the global oil market — Вести
- Venezuelan authorities consider exiting OPEC — The Moscow Times
- Price ceiling against gasoline shortage, what Ratcliffe warned Russia about, Venezuela may exit OPEC — The Bell
- Bloomberg says Venezuela may exit OPEC — Интерфакс
- Bloomberg: Venezuela considers exiting OPEC — Ведомости
- Bloomberg: Venezuela considers exiting OPEC — Вечерняя Москва
- UAE announced they are leaving the oil cartel OPEC United Arab Emirates, one of the world's largest producers... — BBC News Русская служба
- Venezuela, which founded OPEC, may stop participating in this organization — Вести
- Bloomberg: Venezuela may exit OPEC — Коммерсантъ
- Following UAE, Venezuela may exit OPEC under Trump pressure. Canadian newspaper The Globe and... expresses this view. — ТАСС (Telegram)
- Iraq plans to increase oil production to 8-10 million barrels per day over six years — Интерфакс
- Brent trades at $88.9 per barrel — Интерфакс
- Oil refining in the world grew by 1.4 million barrels per day in July compared to June, but is still limited by geopolitical factors — Интерфакс
- OPEC again lowered the forecast for global oil demand growth in 2026 — Коммерсантъ