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.

Unplanned oil production outages in a number of OPEC countries also contributed to lower export earnings. (AFP/File)

August 28th, 2016 - 05:00 GMT

OPEC earnings drop to lowest level since 2004

Contracts traded during the five-day period ending August 4 suggest the market expects WTI prices could range from $29 a barrel to $61 a barrel. (File photo)

August 11th, 2016 - 10:00 GMT

EIA estimates oil prices will stabilize in 2017

The growth in Saudi's oil sector is driven mainly by record oil production that remained above the 10 million bpd level throughout 2016.(File Photo)

August 7th, 2016 - 04:16 GMT

Saudi oil sector increases by 5.1 percent

About $155 billion worth of major projects were under execution in the UAE at the mid-point of 2016. (File photo)

July 31st, 2016 - 08:00 GMT

Brighter skies ahead for UAE

Kuwait is looking into offering 20 to 30 percent of the four subsidiaries’ stocks for public subscription, keeping the majority of stock in government lock. (Shutterstock)

July 14th, 2016 - 04:54 GMT

Kuwait mulls partial privatization of its oil industry

Overall, crude oil prices remain suppressed after breaching the $50 threshold earlier this year. (Shutterstock)

July 13th, 2016 - 08:00 GMT

Oil prices rise with release of OPEC report, but short term pressures remain

After the war, BP and Shell won big contracts to develop oil fields in the south of Iraq, (AFP/Dan Kitwood)

July 8th, 2016 - 05:54 GMT

Chilcot report: UK oil companies were 'well placed' to reap contracts after Iraq invasion

Analysts at Morgan Stanley said there were also signs prices could fall again soon, pointing at stalling gasoline demand and more oil from Canada and Nigeria after production problems. (AFP/Mohammed Al Shaikh)

July 5th, 2016 - 07:00 GMT

Saudi oil minister optimistic market is 'heading towards balance'

The rebalancing of the market may be delayed if halted supplies in Canada, Nigeria and Libya are able to restart, according to the IEA. (Shutterstock)

June 15th, 2016 - 05:20 GMT

IEA predicts oil market balance in 2017

“The rebound in prices is probably a vindication of the OPEC policy of the past two years, although the trajectory for the balance of the year is likely to remain very volatile,” said the managing director of the DME. (File photo)

June 8th, 2016 - 08:00 GMT

Oman crude oil prices jump nearly 100 percent from January lows

Mohammed Sanusi Barkindo from Nigeria (center) takes over as Secretary General from the start of August. (Nigeria Newsdesk)

June 5th, 2016 - 04:40 GMT

OPEC elects new head, downplays meeting deadlock

A number of smaller producers had become overly dependent on oil as a source of revenue, when prices were high, and did not make efforts to diversify their economies. (Twitter)

June 1st, 2016 - 10:00 GMT

Smaller oil producers expected to follow the leader at OPEC meet