Organization of Petroleum-Exporting Countries | Al Bawaba

Organization of Petroleum-Exporting Countries latest

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said. (Shutterstock)

March 31st, 2019 - 07:59 GMT

Oil Prices Report Biggest Quarterly Rise in a Decade

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said.

Saudi Arabia, the de facto head of OPEC, has boasted of its lead position among member states cutting production. (Shutterstock)

March 15th, 2017 - 09:00 GMT

OPEC production cut: Is output creeping up?

Kuwaiti oil minister Essam al-Marzouk speaks to the press in Kuwait City on February 13, 2017. (AFP/Yasser Al-Zayyat)

March 14th, 2017 - 09:00 GMT

Kuwait's oil minister would back extension of OPEC production cut

Algeria has the 10th-largest natural gas deposits in the world and is the third-largest supplier to Europe. (Shutterstock)

March 14th, 2017 - 05:16 GMT

Algeria to receive $42.7M in EU funding for renewable energy projects

Al-Falih added that the kingdom held a long-term view and had kept capital spending unchanged despite the weakness of oil market conditions over the last two years. (AFP/File)

March 12th, 2017 - 07:00 GMT

False expectations of demand hinders oil investments: Al Falih

A member of the Libyan army stands on a tank. (AFP/File)

March 4th, 2017 - 10:00 GMT

Armed militants overrun Libya’s main oil port

Saudi Arabia's renewable energy push is set to see solar power infrastructures housing 300MW established in Sakaka, in addition to a 400 MW wind project in Midyan, both located in the north west of the country once succesful bids have been processed. (AFP/File)

March 2nd, 2017 - 06:00 GMT

Saudi minister proposes golden move towards solar energy!

Saudi Arabia is expected to increase its domestic gasoline prices by 30 per cent from July, but still has the cheapest gasoline prices in the world. (File photo)

March 1st, 2017 - 06:00 GMT

Saudi Arabia takes aim at budget deficit with fuel price hike, fiscal reform

OPEC Secretary-General Mohammad Barkindo said there was strong coordination around the agreement, comments that followed reports suggesting stronger action in the second half of the year. (File photo)

February 26th, 2017 - 08:00 GMT

OPEC, non-OPEC reach 86 percent compliance with product cuts

Brent crude oil prices remain at one of the lowest levels in real terms in decades. (File photo)

February 23rd, 2017 - 06:42 GMT

Oil price forecast at $50-$70 for next five years

OPEC is still urging oil suppliers outside the group to fulfil their commitments to cut output. (File photo)

February 14th, 2017 - 05:34 GMT

Saudi oil production reaches lowest level in eight years

OPEC countries agreed with exterior independent producers, including Russia, to reduce their product around 1.8 million barrels per day for six months starting from January. (File photo)

February 8th, 2017 - 11:00 GMT

Oil production cut compliance rate hits highest level in history of OPEC

Recently, members of Oman’s Shura Council called for fuel prices to be fixed annually instead of monthly and to help low income families afford fuel. (Shutterstock)

February 7th, 2017 - 05:28 GMT

Bring subsidies back? Call for 'fuel stamps' to help the poor in Oman