INSIGHTS
49th Meeting of the Joint Ministerial Monitoring Committee
[ad_1] The 49th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Friday, 04 August 2023. The JMMC reviewed the crude oil production data for the months of May and June 2023 and noted the overall…
OPEC’s Annual Statistical Bulletin (ASB 2023) launched on 11 July 2023
[ad_1] The Organization of the Petroleum Exporting Countries (OPEC) launched the 2023 edition of its Annual Statistical Bulletin (ASB) on Tuesday, 11 July 2023, at 14:00 (CEST) at the OPEC Secretariat in Vienna, Austria. The event was held in a…
Today, OPEC Energy and Oil ministers attending the 8th OPEC International Seminar in Vienna met on the sidelines of the…
[ad_1] Today, OPEC Energy and Oil ministers attending the 8th OPEC International Seminar in Vienna met on the sidelines of the event. The Ministers took the opportunity to review market conditions and agreed to continue consultation with their non-OPEC counterparts,…
OPEC : OPEC Statement – Guyana
[ad_1] In view of recent reports about Guyana being invited to become a Member of OPEC, while the Organization recognizes that Guyana is an emerging player in the international oil market with significant potential, OPEC has not invited Guyana to…
OPEC to celebrate its 60th Anniversary in Bagdad on 16 June
[ad_1] [JOINT PRESS RELEASE] The Organization of the Petroleum Exporting Countries (OPEC) will celebrate its Diamond Anniversary on Friday, 16 June 2023, in Baghdad, Iraq. The celebration was originally scheduled for September 2020 in the Al-Shaab Hall in the Bab…
Secondary sources issue May 2023 production levels and revise Russia’s production for February 2023
[ad_1] The decision of the 35th OPEC and non-OPEC Ministerial Meeting, held on 4 June 2023, adjusted crude oil production levels for OPEC and Declaration of Cooperation non-OPEC Participating Countries starting 1 January 2024 until 31 December 2024, including Russia…
35th OPEC and non-OPEC Ministerial Meeting
[ad_1] No 08/2023 Vienna, Austria 04 Jun 2023 In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, and to provide long-term…
OPEC Secretary General stresses the importance of enhancing refining capacity
[ad_1] OPEC Secretary General, HE Haitham Al Ghais, underlined the importance of enhancing refining capacity globally to meet the growing demand for oil products. The Secretary General delivered these remarks at the 13th Technical Meeting of OPEC and non-OPEC countries…
OPEC Secretary General highlights DoC’s positive contributions to market stability
[ad_1] The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), HE Haitham Al Ghais, underscored the positive contributions made by OPEC Member Countries and non-OPEC oil-producing countries participating in the Declaration of Cooperation (DoC) to support sustainable…
OPEC offers its full support to the UAE COP28 Presidency
[ad_1] OPEC affirms it unwavering support to the UAE’s inclusive approach to this year’s COP 28 meeting and to its President-Designate, His Excellency Dr. Sultan Ahmed Al Jaber. The UAE is a recognised global leader in tackling the challenges related…
OPEC : Innovation plays critical role in reducing emissions: OPEC Secretary General
[ad_1] OPEC Secretary General, HE Haitham Al Ghais, stressed that technological innovation will play a critical role in reducing emissions. The Secretary General stated this at the opening of the 30th Annual Middle East Petroleum and Gas Conference (MPGC 2023),…
Energy transition must be fair and inclusive
[ad_1] OPEC Secretary General, HE Haitham Al Ghais, highlighted that the energy transition must be fair and inclusive, where no one would be left behind. The Secretary General made these remarks in his address to OPEC’s 23rd Coordination Meeting on…
6th High-level Meeting of the OPEC-China Energy Dialogue
[ad_1] [Joint Conclusion] The Sixth High-level Meeting of the OPEC-China Energy Dialogue was held in Beijing, P.R. China, on 16 May 2023. The Meeting was co-chaired by HE Zhang Jianhua, Administrator of the National Energy Administration, the People’s Republic of…
High-level experts meet for the 9th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets
[ad_1] [Joint Press Release] The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) held the 9th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets. The high-level…
48th Meeting of the Joint Ministerial Monitoring Committee
[ad_1] The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 03 April 2023. The Committee reviewed the crude oil production data for the months of January and February 2023 and noted the overall…
OPEC daily basket price stood at $81.88 a barrel Monday, 13 March 2023
[ad_1] Vienna, Austria, 14 March 2023–The price of OPEC basket of thirteen crudes stood at $81.88 a barrel on Monday, compared with $80.72 the previous Friday, according to OPEC Secretariat calculations (view archives). The OPEC Reference Basket of Crudes (ORB) is made up of…
2nd High-level Meeting of the OPEC-Africa Energy Dialogue concludes
[ad_1] [JOINT PRESS RELEASE] The 2nd High-level Meeting of the OPEC-Africa Energy Dialogue took place today, 12 February 2023, in Cairo involving leading energy partners from across the African continent. In a follow-up to the highly successful inaugural Dialogue held…
JMMC reaffirmed their commitment to the DoC which extends to the end of 2023 as agreed in the 33rd OPEC…
[ad_1] The 47th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 01 February 2023. The Committee reviewed the crude oil production data for the months of November and December 2022 and noted the overall…
Historic Declaration of Cooperation of OPEC and non-OPEC oil-producing countries turns six
[ad_1] The Declaration of Cooperation (DoC) between OPEC Member Countries and 10 non-OPEC oil-producing countries turned six today, 10 December 2022. On this day in 2016, OPEC Member Countries and Azerbaijan; the Kingdom of Bahrain; Brunei Darussalam; Equatorial Guinea, which…
34th OPEC and non-OPEC Ministerial Meeting
[ad_1] The 34th OPEC and non-OPEC Ministerial Meeting took place by videoconference on Sunday, 4 December 2022. In line with the decision of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation at the 33rd OPEC and non-OPEC…