EXPLAINER: What Is OPEC and What Does It Have to Do With Oil Prices?

In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC. The intergovernmental organization — which has since expanded to 13 members across the Middle East,
Wall Street Journal

U.A.E. Crude Output Surged in June After OPEC Exit

The United Arab Emirates boosted crude output by 80% in June from the previous month after quitting the Organization of the Petroleum Exporting Countries to escape production quotas and bring oil to the market on its own terms. The country—one of the ...

Saudis Report Million-Barrel Output Rebound in July to OPEC

Saudi Arabia reported to OPEC that it increased crude oil production by just over 1 million barrels a day last month, a reflection of the recovery among Persian Gulf producers during a brief ceasefire in the Iran war.

It's Not Tariffs or War Driving Oil and Gas Prices Now. It's OPEC and the Weather

Concerns around tariffs and conflicts in the Middle East and Ukraine have taken a backseat to more fundamental factors affecting these markets.
CNN

OPEC is in a struggle for its survival. It could mean $40 oil

The Iran war exposed a long-simmering feud within the world’s most powerful oil cartel, boiling over this spring when it contended with the biggest oil supply shock in history. Now OPEC, the largest consortium of oil-producing nations, faces a fight for ...
Argaam

OPEC crude prices fall for the second consecutive month

OPEC's monthly report, released Wednesday, showed that the average price of its crude oils fell in July for the second consecutive month, following a
U.S. News & World Report

OPEC+ Members to Undergo Annual Oil Capacity Audit Under New Plan, Sources Say

LONDON/MOSCOW, Dec 2 (Reuters) - OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more closely aligned with each ...
New Republic

Good Riddance to OPEC

These are hard times for multinationalism. The North Atlantic Treaty Organization lies in tatters, the World Trade Organization is on life support, the World Health Organization is losing its wealthiest member, and I bet you didn’t even know there was an ...

IEA and OPEC split on global oil demand estimates as Strait of Hormuz closure drags

The world's two most watched oil forecasters published sharply conflicting views of 2026 on Wednesday, with the IEA deepening its call for the first annual demand decline since the pandemic while OPEC still sees consumption growing,