OPEC
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Seven OPEC+ members keep November output steady
SHANA (Tehran) – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman agreed Sunday to hold November oil production at September levels, reaffirming their commitment to market stability.
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Dialogue is central to OPEC’s objectives
SHANA (Tehran) – ‘Dialogue’ is an evocative word, one that has engaged some of civilization’s greatest minds. It has also been front and centre of OPEC’s objectives since the Organization was formed back in September 1960.
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OPEC at 66: A chance to reconsider its historic role
SHANA (Tehran) – As OPEC marks its 66th anniversary, it should use the occasion to review its past and reassess its future. Above all, the organization must become more cohesive internally if it is to preserve and strengthen its position and influence. Temporary political and bilateral differences among member states should not become international disputes within OPEC, allowing the organization to maintain and enhance its collective strength.
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OPEC at 66: From oil market to energy governance
SHANA (Tehran) — The global oil market is entering OPEC’s 66th year amid geopolitical tensions, uncertainty over the Strait of Hormuz, concerns about energy security and price volatility, once again highlighting the importance of producers in managing the global oil market.
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OPEC: From quotas to managing the future oil market
SHANA (Tehran) – As the Organization of the Petroleum Exporting Countries (OPEC) marks the beginning of its 66th anniversary, one fact is clearer than ever: Without stable, predictable and responsible management of the global oil market, economic growth and social welfare are exposed to serious instability. A lack of predictability and stability would have far-reaching consequences for global oil and energy markets and, ultimately, the international economy.
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OPEC at 66: From Baghdad to the heart of the global oil market
SHANA (Tehran) – Sixty-six years ago, in September 1960, five oil-producing nations—Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela—gathered in Baghdad and established the Organization of the Petroleum Exporting Countries (OPEC). Since then, OPEC has become one of the most influential players in the global energy market.
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Seven OPEC+ states reaffirm production cuts, market stability
SHANA (Tehran) – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability.
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Iran holds 3rd place in OPEC oil output
SHANA (Tehran) – Iran’s crude oil production rose by 26,000 barrels per day in July 2026, reaching 2.478 million barrels per day and maintaining the country’s position as OPEC’s third-largest producer after Saudi Arabia and Iraq, according to the organization’s latest monthly oil market report.
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Why is the IEA questioning the reliability of Persian Gulf producers?
SHANA (Tehran) – In an interview with the newspaper, The National, on July 8, 2026, when talking about the Strait of Hormuz situation, Dr Fatih Birol, the Executive Director of the International Energy Agency (IEA), said that PersianGulf oil exporters “need to regain their reputation as reliable exporters.”
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OPEC+ Inaugural CoC Technical Committee Meeting held in Baku
SHANA (Tehran) – The inaugural Charter of Cooperation (CoC) Technical Committee Meeting took place today in Baku, Azerbaijan.
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Iran holds steady as OPEC's No. 2 oil producer
SHANA (Tehran) – Iran maintained its position as OPEC's second-largest oil producer in June, according to the organization's latest monthly report, with output rising to 2.441 million barrels per day (bpd).
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Seven OPEC+ members approve August production increase
SHANA (Tehran) - Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman have agreed to adjust their oil production while reaffirming their commitment to maintaining global oil market stability.
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OPEC offers condolences on Martyred Leader's funeral
SHANA (Tehran) — The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) extended condolences to Iran over the funeral of the Martyred Leader, Ayatollah Ali Khamenei.
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Iran heavy crude price jumps above $115 per barrel
SHANA (Tehran) – Iran’s heavy crude oil price rose by $10.24 in May 2026 from the previous month, reaching $115.39 per barrel, while total crude production by OPEC members declined by 177,000 barrels per day (bpd), according to OPEC’s latest monthly report.
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OPEC+ reaffirms cooperation, eyes 2027 targets
SHANA (Tehran) – The 41st OPEC and non-OPEC Ministerial Meeting reaffirmed the alliance's commitment to oil market stability, extending current crude production targets through the end of 2026, maintaining oversight by the Joint Ministerial Monitoring Committee and endorsing plans to strengthen long-term cooperation among participating countries under the Declaration of Cooperation and the Charter of Cooperation.
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OPEC+ advances gradual output increase
SHANA (Tehran) – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman adjust production and reaffirm commitment to market stability.
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The value of OPEC to its Member Countries
SHANA (Tehran) – The value of OPEC can be demonstrated in a range of historic and current benefits for Member Countries that have been seen throughout the Organization’s almost 66-year history. These can be summarized in six key points:
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Saudi Arabia, Iran lead OPEC oil production in April
SHANA (Tehran) – Saudi Arabia and Iran remained the top oil producers in the Organization of the Petroleum Exporting Countries in April 2026, according to OPEC’s latest monthly report.
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OPEC: Obituary or reincarnation?
SHANA (Tehran) – OPEC started back in 1960. Legend has it that five oil ministers showed up in Baghdad because they were fed up. Saudi Arabia, Iran, Iraq, Kuwait and Venezuela were all watching foreign oil companies set prices that barely covered their costs. The story goes that the oil they were selling was worth less than the tea on the table during the meeting.
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Spox: Iran, as a member of OPEC, remains committed to its obligations
SHANA (Tehran) – The Foreign Ministry spokesperson said Iran adheres to its commitments as an OPEC member and believes the Organization of the Petroleum Exporting Countries serves the interests of its member states.
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Seven OPEC+ states adjust production, reaffirm commitment to market stability
SHANA (Tehran) – The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on May 3, 2026, to review global market conditions and outlook.
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OPEC: A longstanding institution for oil market stability, global economic growth
SHANA (Tehran) - OPEC, as an organization formed by oil-producing developing countries, has for more than 65 years worked to secure the collective interests of its members through constructive engagement with consumer countries and the global economy, wrote Iran's representative to the Organization of the Petroleum Exporting Countries (OPEC).
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61st Edition of OPEC’s Annual Statistical Bulletin (ASB-2026) launched
SHANA (Tehran) – The Organization of the Petroleum Exporting Countries (OPEC) launched the 2026 edition of its Annual Statistical Bulletin (ASB) on Wednesday at the OPEC Secretariat in Vienna, Austria. The event was held via videoconference.
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OPEC monthly oil output falls by nearly 8m barrels
SHANA (Tehran) – Daily crude oil production by member countries of the Organization of the Petroleum Exporting Countries (OPEC) dropped by 7.878 million barrels to 20.788 million barrels per day, according to the group’s latest report.
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OPEC oil tops $142, doubling since start of Ramadan War
SHANA (Tehran) - The price of OPEC’s oil basket climbed above $142 per barrel last week, marking more than a 100% increase since the start of the Ramadan War.
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Iran’s crude production rises by 34,000 bpd in February
SHANA (Tehran) - Daily oil production by members of the Organization of the Petroleum Exporting Countries increased by 164,000 barrels in February to 28.63 million barrels per day, according to the group’s latest monthly report.
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OPEC crude production falls by 135,000 barrels per day in January
SHANA (Tehran) – OPEC’s latest monthly report shows that crude oil production by the organization’s members declined by 135,000 barrels per day in January.
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Oil can help achieve SDG 7
SHANA (Tehran) –Globally, over 666 million people do not have access to electricity. If those without electricity were a country, they would be the third most populous on earth.
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OPEC+ JMMC reiterates focus on full oil production conformity
SHANA (Tehran) – The 64th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Sunday, February 1, 2026.
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Eight OPEC+ members agree to continue cautious oil output approach
SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on February 1, 2026, to review global market conditions and outlook, according to opec.org.