OPEC is adjusting its forecast to a changed environment, but it clearly believes that change will be temporary.

The United Arab Emirates informed OPEC that its oil production surged by 80% last month as Abu Dhabi found workarounds for ...

This debate examines whether OPEC still shapes global oil markets or whether shifting geopolitics and production trends have ...

Iraq wants to pump more oil in the future.

OPEC's influence over global oil prices has eroded as non-OPEC production, geopolitical disruptions, and China's demand reshape energy markets.

(Updates dateline) By Ahmed Rasheed BAGHDAD, June 25 (Reuters) - Iraq has considered leaving OPEC if the oil producer group does not allow Baghdad to significantly increase oil production, sources ...

Right on cue, they produced a record 4.1 million barrels per day last month, which helped drive down US prices at the pump.

Add Yahoo as a preferred source to see more of our stories on Google. FILE PHOTO: An installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) is ...

The Iran war exposed a long-simmering feud within the world’s most powerful oil cartel, boiling over this spring when it contended with the biggest oil supply shock in history.

Reuters reported that though Iraq had considered leaving OPEC, the ​current plan is to remain a member of the group while seeking a higher output quota.

The fifth consecutive increase comes as the cartel continues to unwind production cuts introduced in recent years.