The Organization of the Petroleum Exporting Countries further lowered its global oil-demand growth forecast for this year, as ...

OPEC is adjusting its forecast to a changed environment, but it clearly believes that change will be temporary.

The United Arab Emirates informed OPEC that its oil production surged by 80% last month as Abu Dhabi found workarounds for ...

Iraq wants to pump more oil in the future.

The Iran war exposed a long-simmering feud within the world’s most powerful oil cartel, boiling over this spring when it contended with the biggest oil supply shock in history.

The fifth consecutive increase comes as the cartel continues to unwind production cuts introduced in recent years.

Iraq is considering a proposal to boost its oil exports against OPEC's restrictions to compensate for the wartime shortfall.

This debate examines whether OPEC still shapes global oil markets or whether shifting geopolitics and production trends have overtaken its influence.

OPEC has trimmed its 2026 global oil demand growth forecast for the third straight month, even as crude production rebounds ...

Reuters reported that though Iraq had considered leaving OPEC, the ​current plan is to remain a member of the group while seeking a higher output quota.

OPEC's announced 188,000 BOED production increase is immaterial against the scale of global crude demand. Click here to read ...

Add Yahoo as a preferred source to see more of our stories on Google. FILE PHOTO: An installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) is ...