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OPEC

International organization of petroleum-exporting countries

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OPEC: International organization of petroleum-exporting countries
The Organization of the Petroleum Exporting Countries is an intergovernmental organisation of 14 nations, founded in 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna, Austria. As of September 2018, the then 17 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so called "Seven Sisters” grouping of multinational oil companies.

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Oil slips on economic slowdown, but OPEC-led cuts still support

oil slips on economic slowdown, but opec-led cuts still support
More By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts..
WorldNews - Published

Iran’s Oil Minister Blames US for Market Tensions

iran’s oil minister blames us for market tensions
FILE PHOTO: Iran’s Oil Minister Bijan Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, November 30, 2017. Photo: REUTERS/Heinz-Peter Bader/File Photo. Iranian Oil..
WorldNews - Published

Videos for OPEC

OPEC to scrap April meeting but keep oil cuts in place [Video]OPEC to scrap April meeting but keep oil cuts in place

OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of U.S. sanctions on Iran and the..

Credit: Reuters Studio     Duration: 01:00Published

Venezuela Orders American Diplomats To Leave The Country Within 72 Hours [Video]Venezuela Orders American Diplomats To Leave The Country Within 72 Hours

According to a report by Reuters, on Tuesday, Venezuela ordered American diplomats to leave the country within 72 hours, after President Nicolas Maduro accused US President Donald Trump of cyber..

Credit: Wochit News     Duration: 00:43Published

Venezuelan blackout continues for fifth day [Video]Venezuelan blackout continues for fifth day

Caracas residents Malien Gonzalez and Lumidia Boy say they are furious at going without power for a fifth day, a situation that has left them struggling to obtain water and food. Rough Cut (no reporter..

Credit: Reuters Studio     Duration: 00:44Published

Guaido: Guaido: "We will never tire"

Venezuela's opposition leader Juan Guaido stood on the roof of a vehicle in Caracas and addressed supporters with a bullhorn, telling them to keep fighting for freedom. Rough Cut (no reporter..

Credit: Reuters Studio     Duration: 00:44Published

Opposition Protesters Scuffle With Authorities As Blackout Continues [Video]Opposition Protesters Scuffle With Authorities As Blackout Continues

According to a report by Reuters, on Saturday, Venezuelan opposition activists scuffled with police and soldiers in the run-up to a rally intended to maintain pressure on President Nicolas Maduro, as..

Credit: Wochit News     Duration: 00:39Published

Oil stocks slide [Video]Oil stocks slide

A sharp drop in crude oil prices drove down stocks of big energy companies more than 4 percent Friday morning. Fred Katayama reports.

Credit: Reuters Studio     Duration: 00:39Published

Saudi's Falih tells Trump 'we are taking it easy' - CNBC [Video]Saudi's Falih tells Trump 'we are taking it easy' - CNBC

Saudi Energy Minister Khalid al-Falih said on Wednesday that OPEC and its partners were "taking it easy", in response to a tweet from U.S. President Donald Trump requesting that oil producers relax..

Credit: Reuters Studio     Duration: 01:30Published

Venezuelan Opposition Moves To Take Oil Revenue From Maduro [Video]Venezuelan Opposition Moves To Take Oil Revenue From Maduro

Venezuela’s opposition-controlled congress named new temporary boards of directors to state-oil firm PDVSA on Wednesday. Reuters reports the opposition made the move in an attempt to take the OPEC..

Credit: Wochit News     Duration: 00:41Published

OPEC And Russia Are Preparing Oil Market Alliance [Video]OPEC And Russia Are Preparing Oil Market Alliance

According to Reuters, OPEC and Russia drafted a document that hints at a growing alliance over the oil trade. Although they did not agree to form a new organization, the document states that OPEC and..

Credit: Wochit News     Duration: 00:39Published

Trump Says U.S. Military Intervention In Venezuela 'An Option' [Video]Trump Says U.S. Military Intervention In Venezuela 'An Option'

CARACAS (Reuters) - U.S. President Donald Trump said military intervention in Venezuela was “an option” as Western nations boost pressure on socialist leader Nicolas Maduro to step down, while the..

Credit: Wochit News     Duration: 00:44Published

EU Parliament Recognizes Guaido As Venezuelan Interim President [Video]EU Parliament Recognizes Guaido As Venezuelan Interim President

According to a report by Reuters, on Thursday, the European Parliament recognized Venezuela's self-declared interim president Juan Guaido as de facto head of state, increasing international pressure on..

Credit: Wochit News     Duration: 00:43Published

European Parliament Recognizes Guaido As Venezuela's Interim President [Video]European Parliament Recognizes Guaido As Venezuela's Interim President

According to a report by Reuters, on Thursday, the European Parliament recognized Venezuela's self-declared interim president Juan Guaido as de facto head of state, increasing international pressure on..

Credit: Wochit News     Duration: 00:46Published

US sanctions Venezuelan state oil firm [Video]US sanctions Venezuelan state oil firm

The Trump administration on Monday imposed sweeping sanctions on Venezuelan state-owned oil firm PDVSA, the toughest U.S. financial measure so far against Venezuelan President Nicolas Maduro, U.S...

Credit: Reuters Studio     Duration: 01:19Published

Venezuela's Guaido Calls For Protests As Russia, China Support Maduro [Video]Venezuela's Guaido Calls For Protests As Russia, China Support Maduro

CARACAS (Reuters) - Juan Guaido, the Venezuelan opposition leader and self-proclaimed president, on Monday called for new street demonstrations as pressure intensified on President Nicolas Maduro and..

Credit: Wochit News     Duration: 00:43Published

 

OPEC's Barkindo says compliance with supply cut deal improving

OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather..
Reuters - Published

OPEC's Barkindo says rebound in oil investments 'very minimal'

The investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said.
Reuters - Published

Oil up after U.S. crude stock draw, supply growth seen easing

oil up after u.s. crude stock draw, supply growth seen easing
More By Laila Kearney NEW YORK (Reuters) - Oil futures rallied about 2 percent on Wednesday as U.S. crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the..
WorldNews - Published

Venezuela give U.S. diplomats 72 hours to leave, blames Trump for blackout

By Vivian Sequera and Deisy Buitrago CARACAS (Reuters) - Venezuela ordered American diplomats to leave the country within 72 hours on Tuesday after President Nicolas Maduro accused U.S. counterpart..
Firstpost - Published Also reported by •Reuters

Venezuela, blaming U.S. for blackout, orders diplomats to leave

Venezuela ordered American diplomats to leave the country within 72 hours on Tuesday after President Nicolas Maduro accused U.S. counterpart Donald Trump of cyber "sabotage" that plunged the OPEC..
Reuters - Published

Venezuela congress declares 'state of alarm' over blackout

Venezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the OPEC nation's oil exports and left millions of citizens scrambling to find..
France 24 - Published Also reported by •FirstpostReuters

Venezuela blackout halts most oil exports, hits crude upgrading: sources

By Deisy Buitrago, Mircely Guanipa and Marianna Parraga CARACAS/PUNTO FIJO, Venezuela (Reuters) - Venezuelan state-run oil firm PDVSA has been unable to resume crude exports at its primary port since..
Firstpost - Published Also reported by •Reuters

Exclusive: Saudi's Falih says no OPEC+ output policy change until June

By Nidhi Verma NEW DELHI (Reuters) - Saudi oil minister Khalid al-Falih said on Sunday it would be too early to change OPEC+ output policy at the group's meeting in April and that China and the U.S.
Firstpost - Published

Venezuela's Guaido to lead rally as blackout lingers

venezuela's guaido to lead rally as blackout lingers
By Mayela Armas and Deisy Buitrago CARACAS, March 9 (Reuters) - Venezuelan opposition leader Juan Guaido on Saturday will lead a rally in the capital of Caracas to maintain pressure on President..
WorldNews - Published

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