Organization of the Petroleum Exporting Countries (OPEC)

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Latest News

OPEC and allied countries including Russia agree to increase crude oil production by 500,000 barrels/day from January; group to keep meeting monthly to decide further output levels, depending on recovery from COVID-19
Dec. 04, 2020, Associated Press
OPEC nations and allies will ease production cuts to reduction of at least 7.7 million barrels/day in August, up by 2.0 million barrels/day from July as demand for oil grows amid reopenings; nations may change decision if lockdowns further reduce demand
Jul. 16, 2020, Associated Press
OPEC, allied nations extend production cut of nearly 10 million barrels/day until end of July, eight million barrels/day until end of 2020, six million barrels/day for 16 months starting in 2021; global oil inventory to hit 1.5 billion barrels by mid 2020
Jun. 08, 2020, Associated Press

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