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.

OPEC+ advances gradual output increase

SHANA (Tehran) – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman adjust production and reaffirm commitment to market stability.

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:

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.

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.

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.

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).

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.

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.

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.

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. 

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.

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.

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.

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.

OPEC oil basket price rises nearly $2

SHANA (Tehran) – The price of the OPEC oil basket rose by nearly $2 on Thursday (Jan. 29), according to the organization’s secretariat.

OPEC boosts crude output by 105,000 bpd in December 2025

SHANA (Tehran) – Daily crude oil production by OPEC member countries rose by 105,000 barrels in the final month of 2025, reaching 28.564 million barrels per day in December, according to the organization’s latest report.

Uncertainty in US policy biggest challenge for oil market in 2026

SHANA (Tehran) – The former head of international affairs at the National Iranian Oil Company said the global oil market in 2026 will be shaped more than anything else by uncertainty over US tariff policies and the responses of Washington’s trading partners — a factor that could keep global oil demand under pressure and prevent a sharp rise in prices.

OPEC’s tough year: A quarter of oil’s value lost

SHANA (Tehran) – OPEC’s oil basket ended 2025 down 24% from the previous year after a period of sharp volatility.

Oil market shifts from fear to fundamentals as geopolitical shocks fade

SHANA (Tehran) – A former Iranian representative to OPEC’s Board of Governors says the global oil market has largely moved away from fear-driven pricing and is now valuing crude based on fundamentals such as supply, demand, inventory levels and spare production capacity, as the impact of geopolitical shocks continues to fade.

OPEC oil output in November stands at 28.48 mbd

SHANA (Tehran) – OPEC’s crude oil production fell by 1,000 barrels per day in November, reaching 28.48 million barrels per day, according to the organization’s latest monthly report issued in December 2025.

Nine years of OPEC/non-OPEC cooperation strengthen global energy stability

SHANA (Tehran) – Today marks the ninth anniversary of the Declaration of Cooperation (DoC) between OPEC and non-OPEC oil-producing countries, known as OPEC+. The declaration was signed during the first ministerial meeting between OPEC and non-OPEC nations on December 10, 2016, in Vienna, Austria. The agreement not only transformed the structure of the global energy market, but also opened a new chapter of cooperation, alignment and joint management of the oil market — a chapter whose effects remain evident in daily decisions across global energy markets.

Eight OPEC+ producers maintain cautious output policy amid steady market fundamentals

SHANA (Tehran) – Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed commitment to market stability on steady global economic outlook and current healthy oil market fundamentals as reflected in low inventories.

40th OPEC and non-OPEC Ministerial Meeting Press Statement

40th OPEC+ meeting sets course for market stability through 2026

SHANA (Tehran) – OPEC and its non-OPEC allies reaffirmed their long-standing cooperation framework and extended current crude production levels through the end of 2026 during their 40th ministerial online meeting on Sunday, November 30, underscoring their commitment to stabilizing global oil markets amid ongoing volatility.

OPEC Report: Iran’s Oil Price Drops $5 in October

SHANA (Tehran) – The Organization of the Petroleum Exporting Countries (OPEC) announced in its latest monthly report (November) that the average price of Iran’s heavy crude oil fell by $5.07 per barrel in October compared with September.

OPEC reports rise in Iran’s oil output in September

SHANA (Tehran) – The Organization of the Petroleum Exporting Countries (OPEC) reported that the group’s total oil production rose by 524,000 barrels per day (bpd) in September, reaching 28.44 million bpd. Iran’s output increased by 44,000 bpd to 3.25 million bpd during the same month, according to OPEC’s latest monthly report released in October.

Eight OPEC+ nations trim oil production as markets remain steady

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 October 5, 2025, to review global market conditions and outlook, according to opec.org.

OPEC’s daily oil output up by 478,000 barrels in August

SHANA (Tehran) – According to the Organization of the Petroleum Exporting Countries' latest monthly report, OPEC’s daily oil production increased by 478,000 barrels in August to reach 27.5 million barrels per day.

OPEC at 65: A veteran player faces new challenges

SHANA (Tehran) – The former head of OPEC's petroleum studies department said that while various issues have reduced the cartel's power over time, he believes it will maintain a prominent position for the next 30 years if it makes rational decisions regarding oil and understands its true place in the global energy mix.