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OPEC

International organization of petroleum-exporting countries

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OPEC: International organization of petroleum-exporting countries
The Organization of the Petroleum Exporting Countries is a cartel of 13 countries. Founded on 14 September 1960 in Baghdad by the first five members, it has, since 1965, been headquartered in Vienna, Austria, although Austria is not an OPEC member state. As of September 2018, the 13 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's proven oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so-called "Seven Sisters" grouping of multinational oil companies.

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ASEAN delegation visits Odisha; CM Patnaik calls for boosting ties | Oneindia News | *Geopolitics [Video]

ASEAN delegation visits Odisha; CM Patnaik calls for boosting ties | Oneindia News | *Geopolitics

Chief Minister Naveen Patnaik pressed for strengthening trade and cultural ties between Odisha and ASEAN nations; China has again locked down millions in several cities. Amid this, workers were seen..

Credit: Oneindia     Duration: 16:24Published
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Inflation Rose Faster Than Expected in September , As Rent and Food Prices Surge. According to data released by the U.S. Labor Department on Oct. 13, the consumer price index (CPI), a key measure of..

Credit: Wibbitz Top Stories     Duration: 01:30Published
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Credit: Wibbitz Top Stories     Duration: 01:30Published
Biden Warns Saudi Arabia of 'Consequences' Following Cut in Oil Production [Video]

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Biden Warns , Saudi Arabia of 'Consequences' , Following Cut in Oil Production. Biden Warns , Saudi Arabia of 'Consequences' , Following Cut in Oil Production. President Joe Biden appeared in an..

Credit: Wibbitz Top Stories     Duration: 01:31Published
Heads of UAE and Russia meet in St Petersburg days after OPEC+ cuts oil production [Video]

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Russian President Vladimir Putin and the leader of the UAE Sheikh Mohammed bin Zayed Al Nahyan meet in St Petersburg days after OPEC+ cuts oil production.

Credit: euronews (in English)     Duration: 01:25Published
OPEC Announces Massive Oil Production Cut [Video]

OPEC Announces Massive Oil Production Cut

OPEC, Announces Massive, Oil Production Cut. On October 5, OPEC+ announced that it will cut oil production by 2 million barrels per day (BPD), the largest cut since the beginning of the COVID..

Credit: Wibbitz Top Stories     Duration: 01:31Published
OPEC+ makes big oil cut to boost prices, pump costs may rise [Video]

OPEC+ makes big oil cut to boost prices, pump costs may rise

Credit: FRANCE 24 English     Duration: 02:56Published
Price of Oil Soars on Fears of Massive OPEC Production Cut [Video]

Price of Oil Soars on Fears of Massive OPEC Production Cut

Price of Oil Soars , on Fears of Massive , OPEC Production Cut. On October 3, oil prices skyrocketed to $3 a barrel as OPEC+ announced a potential reduction of output by over one million barrels per..

Credit: Wibbitz Top Stories     Duration: 01:31Published

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Slashing oil production is a big two fingers to the US - but will it backfire for Russia?

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Oil prices to rise as two million fewer barrels to be produced each day

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Two million fewer barrels of oil are to be produced each day, equivalent to 2% of global supply, the Organisation of the Petroleum Exporting Countries (Opec) and Russia have agreed.
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Explained: The importance of Jaishankar's first visit to Saudi Arabia

Even after India gorging on cheap Russian crude oil in the recent months, Saudi Arabia is not a featherweight when it comes to fulfilling India's oil energy needs. The country with the largest proven..
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OPEC boss who struck deal with Russia dies just before the end of his term

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The boss of OPEC - the powerful cartel that represents many of the world's biggest oil producers - has died at the age of 63.
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OPEC, Russia extend record oil cuts to end of July

OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost..
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Iran's OPEC governor dies after brain haemorrhage

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Second cargo of water trucks from Mexico arrives in Venezuela under oil swap

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U.S. oil sanctions against Iran are unjust: Rouhani

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Avoiding hugs, OPEC officials greet with their feet amid virus outbreak

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Sailor dies aboard oil tanker moored off Venezuela: sources

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Factbox: Coronavirus hits demand for oil, energy

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OPEC aims to extend oil output cuts through June, alarmed by China virus

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U.S. envoy sees China scaling back economic support for Venezuela’s Maduro

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Twitter suspends over a dozen Venezuelan government, military accounts

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