H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
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.
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.
Years active as of 2020:60
Number of member states:13
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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Oil was down Monday morning in Asia, with the Organization of the Petroleum Exporting Countries and allies (OPEC+) due to meet for its supply policy meeting where it…
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Oil was down Friday morning in Asia as concerns over the spread of Covid-19 globally continue to cloud the fuel demand outlook.
Brent oil futures were down 0.57% to…
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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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Shares of energy companies were weaker Thursday as worries over global economic growth come back in the face of a raging Delta variant.
Chevron (NYSE:CVX), Exxon…
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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 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 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 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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Oil was down Tuesday morning in Asia, with all eyes on Thursday’s Organization of the Petroleum Exporting Countries and allies, or OPEC+, meeting to discuss…
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