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Discover Latest #OPEC News, Articles and Videos with Contenting
OPEC OPEC (Organization of the Petroleum Exporting Countries) is a group of 13 major oil-exporting nations, including Saudi Arabia, Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the United Arab Emirates, Venezuela and Indonesia. The mission of the organization is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. OPEC works to ensure the stability of global oil prices and promote the development of economic and social projects in member countries. OPEC also works to reduce global dependence on oil and promote the use of alternative energy sources.
Baystreet.ca - Oil Set For Weekly Loss on OPEC+ Supply Rumors
Crude oil prices were about to end the week with another loss following a report that OPEC+ may be considering another larger than initially planned output boost in June. A renewed hope for peace in the Ukraine contributed to the bearish mood among traders. Benchmarks ...
WTI falls to near $62.50 due to potential Iranian crude, OPEC+ production increase
West Texas Intermediate (WTI) Oil price is trading lower at around $62.70 per barrel during the European hours on Monday. Crude Oil prices continue to decline as progress in US-Iran nuclear talks raises the prospect of Iranian crude re-entering the market.