Search results
Results From The WOW.Com Content Network
The Organization of the Petroleum Exporting Countries (OPEC, / ˈoʊpɛk / OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq ...
The Organization of Arab Petroleum Exporting Countries (OAPEC; Arabic: منظمة الأقطار العربية المصدرة للبترول) is a multi-governmental organization headquartered in Kuwait which coordinates energy policies among oil-producing Arab states. OAPEC's primary objective is safeguarding the cooperation of numerous ...
2002 world oil market chronology. January 1: The OPEC crude oil production quota cuts of 1.5 million barrels (240,000 m 3) per day, announced on December 28, officially go into effect for six months. Crude oil production or export cuts of 462,500 barrels per day (73,530 m 3 /d) by five non-OPEC oil exporters also go into effect.
The announcement comes amidst growing non-OPEC oil production and weak oil prices. (DJ) November 22: OPEC states that it will roll over its current oil production quota of 25.42 million barrels per day (4,041,000 m 3 /d). The roll-over was widely anticipated because of slack world oil demand, rising non-OPEC production, and weak prices. (DJ, PON)
The announcement comes amidst growing non-OPEC oil production and weak oil prices. (DJ) 22 November: OPEC states that it will roll over its current oil production quota of 25.42 million barrels per day (4,041,000 m 3 /d). The roll-over was widely anticipated because of slack world oil demand, rising non-OPEC production, and weak prices. (DJ, PON)
The Organization of the Petroleum Exporting Countries and its allies — a group of leading oil producers known as OPEC+ — agreed Sunday to extend production cuts announced last year into 2025.
Iran claims the field is in Iranian waters. Caspian Sea region countries have been unable to agree on a division of the Sea. (NYT) July 25 Faced with declining oil prices, OPEC ministers agree to cut crude oil production quotas by about 4%, or 1 million barrels (160,000 m 3) per day. The cut will take effect September 1, and is aimed at ...
The countries making up the organization will extend their production cuts of 2.2 million barrels per day through November and plans to phase out those voluntary cuts beginning in December until ...