Iran is ranked third, possessing 208,600 million barrels, or 208 billion barrels. Iraq takes fourth place with 145,019 ...

The Organization of the Petroleum Exporting Countries (OPEC) produced less crude oil in May than its laid out plans.

Output for March 2025 was revised higher by 2 kb/d and April 2025 output was revised higher by 128 kb/d compared to last ...

Goldman Sachs said markets are estimating a 65% likelihood of the U.S. intervening in the Middle East, though added there's a ...

The cartel trimmed next year’s forecast for supply growth from the U.S. and other rivals while keeping its oil demand ...

Vladimir Putin met with OPEC Secretary General Haitham Al Ghais on the sidelines of the International Economic Forum.

OPEC said on Monday it expected the global economy to remain resilient in the second half of this year and trimmed its ...

The Gulf states are looking beyond oil and the internal combustion engine.

Analysts said OPEC might not see any urgency to shift policy, as the surge in prices was driven by a rising risk premium ...

Key OPEC+ nations added less oil to the market last month than the headline figure of its output plan, as the cartel’s ...

Russian Deputy Prime Minister Alexander Novak has discussed the situation on the global oil market with OPEC Secretary ...

The East African Development Bank (EADB) has taken a significant leap forward in fostering sustainable economic development ...