There’s a record 1.4 billion barrels of crude currently on the world’s oceans, pushing down benchmark prices and sending ...

The U.S. Energy Information Administration quietly rewrote a key assumption about the global oil market this week: OPEC can ...

The Organization of the Petroleum Exporting Countries left its oil-demand outlook unchanged as it prepares to pause output ...

World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with ...

Iraq is seeking to increase its OPEC oil quota by 300,000 bpd, potentially generating $10 billion annually to bridge the ...

OPEC's latest monthly report maintains a forecast for solid global oil demand growth of 1.4 million barrels per day in 2026, ...

For now, Brazil’s rebound from November’s outages and OPEC’s steady outlook offer opposing snapshots of a market in flux, one ...

OPEC+ faces a major oil oversupply in 2025, challenging production increases. The coalition has tried to boost oil prices by holding back output. Instead, members are ceding control to non-OPEC ...

Crude oil futures are rising Monday after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday extended their output cuts by one month.

OPEC's strategy to defend market share against US shale oil production has cost them trillions in lost revenue. OPEC's strategy may finally be paying off as US shale oil production appears to be ...

FILE - Saudi Arabia's Crown Prince Mohammed bin Salman, left, talks with Russian President Vladimir Putin, right, during the G-20 summit event on the Digital Economy in Osaka, Japan, on June 28, 2019.

Forbes contributors publish independent expert analyses and insights. Making wealth creation easy, accessible and transparent. OPEC controls 40% of the world’s oil production and accounts for 60% of ...