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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 Prices Rise On News Of Saudi Arabia Production Cut
The price of crude oil is up 2% on news that leading producer Saudi Arabia plans to cut its production level by one million barrels a day going forward. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) made no changes ...
Saudi Minister Seeks Oil Production Transparency From Russia
Russia would benefit from being transparent in publishing its oil production data as the OPEC+ group, which it leads along with Saudi Arabia, seeks to convince markets that it is pumping at pledged levels, the kingdom’s energy minister said.
OPEC+ oil price gains reverse on US recession worries - UK Investor Magazine
Fears of a US recession have led to the reversal of oil prices after yesterday’s gains on the back of the OPEC+ production cut. The front-month July Brent Oil futures contract was trading at $75.73 at the time of writing, lower than the close on Friday. Analysts attributed the losses to concerns about the health […]
FTSE 100 stumbles as US economic data disappoints - UK Investor Magazine
The FTSE 100 dipped on Tuesday as Monday’s support from higher oil prices quickly evaporated. Oil majors were among the top fallers as oil prices erased all of the gains made yesterday on the back of OPEC’s production cut. The FTSE 100 was trading at 7,575, down 0.3% at the time of writing. Oil prices […]