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.

Russia has been a leading non-member supporter of efforts to control production and influence crude oil prices. (Shutterstock)

October 19th, 2016 - 07:00 GMT

Crude oil rallies as support builds for OPEC production freeze

In a statement Friday from OPEC on the outcome of the meetings in Istanbul, Russian Energy Minister Alexander Novak said support was growing from non-member states. (Shutterstock)

October 16th, 2016 - 04:09 GMT

Crude oil prices dip despite positive OPEC sentiment in Istanbul

An IMF report on the UAE economy says that the quality of loans taken by households — a measure of financial strain for home buyers — has improved. (Shutterstock)

October 5th, 2016 - 11:00 GMT

Dubai's softening real estate values open opportunities to get on property ladder

The rise in exports was mostly attributed to a rise in shipments of condensate – a type of ultra light oil often produced with natural gas. (File photo)

October 4th, 2016 - 08:00 GMT

Iran oil exports hit benchmark pre-sanctions output levels

The development came after Kuwaiti lawmakers on Thursday requested an emergency session of parliament to debate the price increase.. (File photo)

September 29th, 2016 - 06:24 GMT

Kuwait court rules fuel price hikes illegal

Sources in OPEC said the group would reduce output to 32.5 million barrels per day from current production of 33.24 million bpd, according to Reuters. (File photo)

September 29th, 2016 - 06:13 GMT

OPEC reaches consensus on cutting output

Falah Al Amri, Iraqi governor to OPEC and Director General of Iraq’s Oil Marketing Co, known as SOMO. (YouTube)

September 22nd, 2016 - 08:30 GMT

Iraq raises expectations for Algiers oil meeting

Fujairah Port is already the world's second largest bunkering hub. (FujairahPort.ae)

September 22nd, 2016 - 05:00 GMT

UAE opens country's first VLCC berth in Fujairah

The steady surge in Saudi output is the result of an adamant Riyadh oil policy against low oil prices. (File photo)

September 15th, 2016 - 10:00 GMT

Saudi Arabia surpasses the US to become world's largest oil producer

OPEC’s second-largest producer, trailing Saudi Arabia, Iraq depends on oil sales for 95 percent of its public spending. (AFP/File)

August 29th, 2016 - 08:54 GMT

Iraq to vie for a larger slice of the oil market

Oil producing countries will hold an informal meeting in Algeria next month though it looks unlikely that they will reach an agreement to cut or freeze production to prop up oil prices.

(File photo)

August 29th, 2016 - 04:13 GMT

UAE to raise petrol prices in September

Saudi Energy Minister Khalid Al Falih stated that huge emphasis will be put in the future on foreign investments. (File photo)

August 28th, 2016 - 07:00 GMT

Saudi Aramco courts international investors to underwrite shares