OPEC
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. It is estimated that 79.5 percent of the world's proven oil reserves are located within OPEC nations, with the Middle East alone accounting for 67.2 percent of OPEC's total reserves.
Beyond's analysis on OPEC
- — Iraq seeks significant increase in OPEC production baseline to expand crude oil output
- — U.S. claims Middle East oil exports have rebounded to 15 million bpd, but analysts question the data
- — Middle East oil exports rebound to 15 million bpd, surpassing pre‑war averages according to US officials
- — Oil benchmarks are poised for a roughly 20% monthly gain despite a short‑term pullback
- — Brent crude hitting $100 a barrel threatens the $725 billion AI spending plans of big‑tech firms
- — OPEC+ plans another output hike despite members' inability to meet current quotas, signaling potential oversupply
- — Iraq signals plan to raise crude output to 6–7 million bpd, testing its energy ties with the West
- — UAE boosts oil output to near‑record levels after leaving OPEC, signaling independent supply expansion
- — OPEC+ set to boost oil output again from August, adding supply despite prices returning to pre‑war levels
- — OPEC+ plans to raise oil output further despite falling prices, signaling potential supply surplus
- — Brent crude’s steep Q2 fall signals market optimism over a possible US‑Iran peace easing Hormuz tensions, though analysts warn the move may be premature
- — Strategic stockpile buying could fuel the next oil rally amid Middle East supply disruptions
Recent news mentioning OPEC
- — Where Is OPEC+? Riyadh and Moscow’s Silence Is Becoming Deafening
- — Where Is OPEC+? Riyadh and Moscow’s Silence Is Becoming Deafening
- — Q32 Bio Announces Upcoming Late-Breaking Presentation of Results from Part B of the SIGNAL-AA Clinical Trial of Bempikibart in Alopecia Areata at the European Academy of Dermatology and Venereology Congress 2026
- — Sun Pharma and Christian Siriano Launch "Regrowth Restyled" to Inspire Adults Living with Severe Alopecia Areata
- — OPEC Sees Oil Demand Growth Explode Sixfold in 2027
- — OPEC Further Cuts Demand Growth Forecast as Oil Surpasses $100 a Barrel
- — Sinopec Sees China Oil Demand Falling 8.9% in 2026
- — Sinopec Sees China Oil Demand Falling 8.9% in 2026
- — Iraq Pushes OPEC for a Huge Increase in Its Oil Quota
- — OPEC Output Slumps as Conflict Curbs Saudi Flows, Survey Shows
- — OPEC+ has lost control of the oil market
- — Sinopec und internationale Partner starten Initiative zur Förderung der weltweiten CCUS-Zusammenarbeit