Organization of the Petroleum Exporting Countries (OPEC)

Organization of the Petroleum Exporting Countries (OPEC)

FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) on a flag at the oil producer group's headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/File Photo

Once an American foe, now a friend: OPEC turns 60

Founded in Baghdad on Sept. 14, 1960 to counter the power of seven US and British oil companies, OPEC has repeatedly yielded to pressure from Washington to pump more oil since US President Donald...

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen inside its headquarters in Vienna, Austria, 7 December, 2018. Photo: Reuters

OPEC+ compliance with oil output cuts in July around 97% - sources

A general view of the gas field in Basra , Iraq, August 26, 2017. Picture taken August 26, 2017. REUTERS/Essam Al-Sudani

Iraq increases oil exports in July, still pumps above OPEC+ target

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

Iraq committed to improving compliance with OPEC+ cuts

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

OPEC sees gradual oil demand recovery, makes 84% of cuts in May

Picture: Reuters

Oil falls from $40 on doubts over early OPEC meeting

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. Photo:Reuters

Oil gains as US inventories grow less than feared while virus slashes demand

FILE PHOTO: An oil pump is seen at sunset outside Vaudoy-en-Brie, near Paris, France April 23, 2018/ REUTERS

Oil futures point to long and deep recession

FILE PHOTO: A maze of crude oil pipes and valves pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US, June 9, 2016. REUTERS/Richard Carson/File Photo

Oil bounces back as rising stockpiles pointing to lower output

The Philadelphia Energy Solutions oil refinery is seen at sunset in Philadelphia March 26, 2014. Picture taken March 26, 2014. Photo :Reuters

Oil in the age of coronavirus: A US shale bust like no other

FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) on a flag at the oil producer group's headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/File Photo

Mexican president's nationalist oil vision fuels standoff with Saudis

The Philadelphia Energy Solutions oil refinery is seen at sunset in Philadelphia March 26, 2014. Picture taken March 26, 2014. Photo :Reuters

Oil higher on hopes of production cut amid virus threat to demand