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The logo of the OPEC (Organization of the Petroleum Exporting Countries) is seen at the organization's headquarter on the eve of the 164th OPEC meeting in Vienna, Austria
Image: ALEXANDER KLEIN/AFP/Getty Images

OPEC

Organization of the Petroleum Exporting Countries is an intergovernmental organization, set up to coordinate the policies of oil-producing countries.

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All Content on this topic

OPEC headquarters

OPEC at 60: A cartel on life support

The 13-member bloc of oil-rich nations is turning 60 amid a pandemic that's jeopardizing its very existence.
BusinessSeptember 14, 2020
Lukoil employee

Russia: From OPEC+ offender to enforcer

Russia is not only complying with its pledged output cuts but also calling on other repeat offenders to toe the line.
BusinessJune 9, 2020
Lukoil employee

Will coronavirus rein in OPEC+ cheaters?

Several OPEC+ members, including Russia, have been notorious for failing to comply with pledged oil output cuts.
BusinessApril 29, 2020
A 3D-printed oil pump jack is seen in front of a displayed stock graph and "$0 Barrel"

Why global oil prices are going topsy-turvy

Are negative oil prices really because of the coronavirus or is it about the oil market itself?
BusinessApril 21, 2020
Russland Symbolbild Ölförderung

Where does Russia stand in oil market turmoil?

Energy expert Fares Kilzie tells DW where Russia stands in the current dilemma surrounding the slump in oil markets.
BusinessApril 16, 2020
Symbolbild OPEC, Organisation Erdöl exportierender Länder

OPEC+ agrees to biggest ever production cut

The deal was announced just hours before Asian markets opened on Monday.
BusinessApril 12, 2020
Oil production in Bahrain

G20 economies agree to cut down on oil production

Crude oil prices are at their lowest in 18 years.
BusinessApril 11, 2020
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Oil’s new price war: The battle of the barrel

With Saudi Arabia and Russia locked in a race to the bottom of the barrel, can there be any winner? DW’s Brent Goff spoke with energy analyst Ellen R. Wald, author of Saudi Inc.
March 10, 202006:23 min
Employes of Aramco oil company work in Saudi Arabia's Khurais oil processing plant

Oil price wars rage on as Saudi oil output increases

Saudi Arabia's state-run company will increase its production by 300,000 barrels per day.
BusinessMarch 10, 2020
Stock exchange in Tokyo, Japan.

Global markets rebound after major shocks

Stock prices have steadied and even bounced back after a "Black Monday" that saw them fall by almost a third in value.
BusinessMarch 10, 2020
A man rides a camel through the desert oil field and winter camping area of Sakhir, Bahrain

Oil prices make biggest drop since 1991 Gulf War

Saudi Arabia has raised the specter of an oil price war aimed at Russia by slashing its export oil prices.
BusinessMarch 9, 2020
Delegates arriving at OPEC have their temperatures checked

OPEC: Russia rejects cut in oil production

OPEC countries failed to reach a deal as fellow key exporter Russia refused to agree to a cut in production
BusinessMarch 6, 2020
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Oil prices take hit from coronavirus scare

NJ Ayuk, who heads the Centurion Law Group, tells DW what can be expected from the forthcoming OPEC meeting.
BusinessMarch 4, 202003:12 min
Russian Minister of Energy Alexander Novak at a meeting of energy ministers from OPEC and its allies in Saudi Arabia

Coronavirus tests Saudi Arabia-Russia coalition

Russia remains noncommittal on the Saudi-led effort to curb oil production in response to the deadly coronavirus.
BusinessFebruary 7, 2020
OPEC meeting in Vienna

OPEC and Russia agree to cut oil production

It is uncertain whether this will significantly raise prices, as non-member countries continue to pump oil.
BusinessDecember 6, 2019
A man wrapped in an Ecuadorian flag huddles against the wall as an armored car rolls down the street

Ecuador: Union leaders call off fuel protests

After announcing a giant fiscal reform package, President Lenin Moreno now faces street protests and transport strikes.
PoliticsOctober 5, 2019
Raffinerie im Sonnenlicht

Oil uncertainty goes beyond Saudi supply

It's been a turbulent few days on international markets for oil investors and uncertainty remains.
BusinessSeptember 17, 2019
Syrien Rojava Öl-Produktion

Oil prices shocked, but not surprised

Attacks on Saudi oil production facilities could leave the country's oil exports sidelined for weeks.
BusinessSeptember 16, 2019
A woman confronts Venezuelan police blocking a crowd of people gathering to march against the government of President Nicolas Maduro

Police block opposition protesters in Venezuela

As Venezuelans endured more power outages, police scuffled with anti-Maduro protesters in Caracas.
PoliticsMarch 9, 2019
Angola Ölförderung vor der angolanischen Küste

OPEC agrees to cut oil production

Following two days of tense talks in Vienna, a deal to reduce oil production has been struck by OPEC and Russia.
BusinessDecember 7, 2018
OPEC meeting in session in Vienna, Austria

Saudi Arabia: US cannot 'tell OPEC what to do'

US President Donald Trump's call for OPEC to keep oil flows unrestricted drew criticism from Saudi Arabia.
PoliticsDecember 6, 2018
Saudi Arabia's oil minister, Khalid al-Falih (left)

Riyadh faces OPEC dilemma

The big question looming at OPEC's upcoming meeting is whether Riyadh puts the global oil price above Trump's support.
BusinessDecember 5, 2018
Qatar oil refinery

Qatar's OPEC exit rooted in diplomatic tension

Qatar is leaving OPEC — mainly for economic reasons, but worsened ties with some of its neighbors also played a role.
PoliticsDecember 3, 2018
Katar | Energieminister Saad al-Kaabi

Are OPEC’s days numbered?

Qatar is quitting OPEC from January 2019. So what next?
BusinessDecember 3, 2018
Katar Öl- und Erdgasförderung bei Ras Laffan

Qatar says will leave OPEC

The Gulf nation of Qatar's new energy minister said that his country will leave OPEC effective January of 2019.
PoliticsDecember 3, 2018
Oil drilling rigs in Texas

Doubts over US shale's rapid growth

The International Energy Agency, and several oil analysts, are concerned that the US oil boom has been overhyped.
BusinessNovember 14, 2018
Saudi Energy Minister Khalid al-Falih

Saudi Arabia mulling end to OPEC?

Amid pressure from rival oil producers, Saudi Arabia is pondering the effects of a breakup of the OPEC oil cartel.
BusinessNovember 9, 2018
Oil pump in Bahrain

Can Trump really bring down oil prices?

Donald Trump's pledge that the US "won't put up with high oil prices" has led to much speculation about his plans.
BusinessSeptember 27, 2018
Oil rig in France

Oil prices up after OPEC nixes output rise

The price for Brent Crude jumped to a four-year high, driven not only by concerns about supply.
BusinessSeptember 24, 201801:20 min
Offshore drilling facility in the Persian Gulf

Iran reveals plan to skirt US oil sanctions

Tehran has vowed to "defeat" attempts to curb its oil revenues by allowing private companies to export it.
PoliticsJuly 1, 2018
A derek pumps in a Kuwaiti oil field as a pair of gas flares burn in the background.

Kuwait pumps up oil output to limit prices

Kuwait is to increase its output as part of a broader agreement by OPEC countries and Russia to boost production.
PoliticsJune 30, 2018
Iran's Oil Minister Bijan Zanganeh

OPEC to raise oil production, lower prices

OPEC has agreed to raise oil production in a move its chief proponents said was aimed at lowering global prices.
BusinessJune 22, 2018
04.2015 DW Business Sendungslogo

DW Business – Europe & Africa

Google continues to push Artificial Intelligence - Italy's political uncertainty weighs on the economy
BusinessMay 10, 201811:02 min
OPEC meeting with Alexander Novak, Khalid A. Al-Falih and Mohammad Sanusi Barkindo

Russia, Saudi Arabia forge oil alliance

The world's largest oil producers agree on long-term cooperation to stabilize oil prices, including output cuts.
BusinessApril 20, 2018
The OPEC logo

Oil prices stabilize after Syrian air strikes

Oil prices spiked last week on fears of an escalation in tensions in the Middle East, but lowered on Monday.
BusinessApril 16, 2018
An oil pump at sunset in Bahrain's lone oil field.

Bahrain reports major new oil find

The small archipelago Gulf state is surrounded by oil-producing giants, but its own production has been very limited.
Nature and EnvironmentApril 1, 2018
Fracking in Texas

American oil production at 50-year high

The US could soon outstrip Russia and Saudi Arabia in oil production. But how long can the black gold boom last?
BusinessFebruary 20, 2018
Exxon Mobile sign

ExxonMobil and Chevron disappoint investors

The massive fourth-quarter profits of America's biggest oil companies were weaker than expected and pushed down stocks.
BusinessFebruary 2, 2018
USA Fracking Bohrstelle Bohrung Colorado

US set to overtake Saudi oil output

US shale companies will pump more oil than Saudi Arabia, says IEA, making them the world's second largest crude producer
BusinessJanuary 19, 2018
North Sea oil platform

North Sea pipeline shutdown impacts supply

The temporary closure of one of the biggest North Sea oil pipelines gives some hope to OPEC oil producers.
BusinessDecember 12, 2017
Libyen Öl Komplex Raffinerie Brega Oil

OPEC agrees oil cut extension

The oil cartel decided to extend oil output cuts until the end of 2018 under efforts to curb a global glut of crude.
BusinessNovember 30, 2017
Saudi Arabien König Salman Bin Abdul Aziz Al Saud

Saudi King Salman talks Iran and oil in Russia

Saudi King Salman's arrival is Moscow is the first-ever visit by a sitting Saudi monarch to Russia.
PoliticsOctober 5, 2017
Ölbohrinseln vor der Küste von Baku Aserbaidschan

OPEC pumps more oil - again

Higher production by the oil cartel boosts global supplies for the third straight month.
BusinessAugust 11, 2017
USA Öl- und Gasindustrie in Texas

Russia calls for more oil output cut discipline

The Russian energy minister has called for greater discipline among the main oil in cutting output.
BusinessJuly 24, 2017
Symbolbild Öl-Marktbericht der Internationalen Energieagentur

IEA: Oil markets remain oversupplied

Oil glut could stay for longer than expected due to rising production and limited output cuts by some OPEC exporters.
BusinessJuly 13, 2017
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Oil Glut Lowers Prices

This week a barrel slipped below 45 dollars, even though exporters have slashed production.
BusinessJune 22, 201701:19 min
Doha Skyline

Qatar in regional economic crossfire

The diplomatic row between Qatar and some of its neighbors intensifies, may pull down a region already suffering.
BusinessJune 5, 2017
Österreich OPEC Logo

OPEC cuts not enough for investors

Energy firms take a hit after OPEC members agree to less than expected curbs on future oil production.
BusinessMay 26, 2017
Mexiko Ölbohrinsel - Pemex

OPEC agrees to extend oil production cut

In an attempt to keep the price of oil above $50 a barrel, OPEC has extended the production cut for another nine months.
BusinessMay 25, 2017
Algerien Opec Öl Förderung

Oil markets hope for OPEC production cut

OPEC ministers will assemble in Vienna this week to discuss an extension to cuts in oil production to March 2018.
BusinessMay 23, 2017