Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in ...

Oil rose to $59 a barrel today as Opec's decision to hold an emergency meeting in Qatar later this week raised expectations the producers' group would finally agree how to implement a production cut.

Members reportedly agree a rise of 206,000 barrels a day in May, but move symbolic while strait of Hormuz is effectively closed ...

OPEC+ is likely to weigh a further oil output increase when eight members meet on Sunday, ‌two OPEC+ sources said, a move that would position key producers to add more barrels should the Strait of ...

Oil prices edged up on Monday as investors weighed the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases. Brent ...

VIENNA — The countries that make up the OPEC oil-producing cartel talked into the night Thursday over possible deep cuts to production that would support the price of fuel around the world. An OPEC ...

VIENNA (Reuters) - OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that ...

Oil prices were rising as investors digested news that the U.S. and Iran will resume discussions next week after the latest round of talks wrapped up on Thursday without a deal. Brent crude rose 0.9% ...

The purpose of OPEC is to “coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply ...