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International petroleum organization
The Organization of the Petroleum Exporting Countries is an intergovernmental cartel enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization, which currently comprises 11 member countries, accounted for 38 percent of global oil production in 2022.
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OPEC's October monthly report shows OPEC+ crude production averaged 39.07 million barrels per day in September, up roughly 900,000 bpd…
Crude oil production by the Organisation of the Petroleum Exporting Countries (OPEC) rebounded in September, rising by around 920,000 barrels...
Investing.com -- Saudi Arabia plans to expand its pipeline crude export capacity to as much as 10 million barrels per day through repurposing a domestic gas pipeline and investing in its existing East-West network, Energy Minister Prince Abdulaziz bin Salman said on Monday.