H.E. Mohammad Sanusi BARKINDO

Secretary General

OPEC

OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
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OPEC

A fine balance

OPEC is an international organisation that was established in Baghdad in September 1960. Today it is headquartered in Vienna, Austria. It co-ordinates and unifies the petroleum policies of its members. OPEC sets production targets for its member nations and  is an important factor affecting global oil prices. Iran is one of the five founding members of the organisation.

  • Leadership: OPEC’s current secretary-general is H.E. Mohammad Sanusi Barkindo, a Nigerian who served in various capacities, including CEO, at Nigerian National Petroleum Corporation.
  • Members: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Republic of Congo, Saudi Arabia, the UAE, Venezuela

OPEC+, a designation that adds 10 non-OPEC members including Russia, reached a deal in September 2016 to cut approximately 1 million bopd of production. The deal was extended several times and deepened to 7.7 million bopd for August-December 2020.

 

OPEC in figures

Years active as of 2020:60

Number of member states:13

OPEC features

Oil up as investors hunt bargains
NEWS
Multinational - November 29, 2021

Oil was up Monday morning in Asia, clawing back some of Friday’s losses. Investors went bargain hunting, but caution still…

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Woji WELI Country Business Unit Manager BW OFFSHORE NIGERIA
Interview
Nigeria - July 14, 2021

Woji Weli, country business unit manager of BW Offshore Nigeria, talks to The Energy Year about the reasons for the rapid growth of deepwater oil extraction off Nigeria…

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Talks to add Iranian supply continue
NEWS
Multinational - June 15, 2021

Oil was up Tuesday morning in Asia, as talks over Iran adding to the global supply continue and alleviate investor concerns.

Brent oil futures were up 0.33% to…

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Oil up over draw in US crude inventories
NEWS
Multinational - May 12, 2021

Oil was up Wednesday morning in Asia after data showed a larger-than-expected draw in US crude supplies and the Organization of the Petroleum Exporting Countries (OPEC)…

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Oil rally stalls
NEWS
Multinational - March 10, 2021

Oil was down Wednesday morning after falling from recent multi-year highs, as technical indicators signalled that the black liquid’s rally went too far and was too…

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Oil up as investors await OPEC+ meeting
NEWS
Multinational - March 03, 2021

Oil was up Wednesday morning in Asia, over wide expectations that the Organization of the Petroleum Exporting Countries and allies (OPEC+) will decide to increase…

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