OPEC

  • JMMC Reaffirms Commitment to Full Conformity

    JMMC Reaffirms Commitment to Full Conformity

    VIENNA (Shana) -- The 24th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Tuesday, 17 November 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation.

  • JMMC priority is full conformity By all DoC members

    JMMC priority is full conformity By all DoC members

    VIENNA (Shana) -- The 23rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 19 October 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • 45th JTC Meeting Convened

    45th JTC Meeting Convened

    VIENNA (Shana) -- The 45th Meeting of the Joint Technical Committee (JTC) was held via videoconference, in preparation for the 23rd Meeting of the Joint Ministerial Meeting (JMMC) planned for 19 October 2020.

  • Iran Names National Rep to OPEC

    Iran Names National Rep to OPEC

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh has appointed Afshin Javan as Iran’s national representative to the Organization of the Petroleum Exporting Countries (OPEC).

  • OPEC Launches 2020 Edition of World Oil Outlook

    OPEC Launches 2020 Edition of World Oil Outlook

    VIENNA (Shana) -- The 2020 OPEC World Oil Outlook (WOO) was launched today in Vienna, Austria, providing the OPEC Secretariat’s in-depth look at the unprecedented scale and impact of the COVID-19 pandemic on the global energy and oil markets, an assessment of the medium- and long-term prospects, as well as analysis of various alternative scenarios and sensitivities that have the potential to impact the petroleum industry in the years ahead.

  • OPEC Sec. Gen. Sends Condolence Message on Death of Kuwaiti Emir

    OPEC Sec. Gen. Sends Condolence Message on Death of Kuwaiti Emir

    VIENNA (Shana) – Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo sent a letter of condolence on the death of the Kuwaiti Emir.

  • Successful Past, Sustainable Future

    OPEC Turns 60

    Successful Past, Sustainable Future

    TEHRAN (Shana) -- In September 1960, the representatives of the five founding members of the Organization of the Petroleum Exporting Countries (OPEC), i.e. Iran, Iraq, Kuwait, Saudi Arabia and Venezuela, held a four-day conference in the Iraqi capital Baghdad. The conference gave rise to OPEC as a permanent intergovernmental organization.

  • Adeli: OPEC Politicized by Some Member States

    Adeli: OPEC Politicized by Some Member States

    TEHRAN (Shana) -- Mohammad Hossein Adeli, former secretary general of the Gas Exporting Countries Forum (GECF), has said some member states of the Organization of the Petroleum Exporting Countries have politicized the Organization. In an interview, he cites the examples of countries that did not hesitate to compensate for Iranian and Venezuelan share following their US sanctions on the two member states.

  • Iran: OPEC’s ‘brilliant history’ and the necessity of continued cooperation
  • OPEC SG Welcomes Iran FM Deputy

    OPEC SG Welcomes Iran FM Deputy

    TEHRAN (Shana) -- OPEC SG HE Barkindo today welcomed to the OPEC Secretariat HE Mohsen Baharvand, Deputy Foreign Minister for International and Legal Affairs of the IR Iran and HE Kazem Gharib Abadi, Ambassador and Permanent Representative of the IR Iran to the UN Office at Vienna.

  • JMMC Focuses on Market Stability and Full Conformity

    JMMC Focuses on Market Stability and Full Conformity

    TEHRAN (Shana) -- The 22nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Thursday 17 September 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • How OPEC Became a Key Player in World Markets

    OPEC 60th Anniversary; Javad Yarjani Explains

    How OPEC Became a Key Player in World Markets

    TEHRAN (Shana) -- Javad Yarjani, Iran’s former national representative to OPEC, has attended OPEC meetings for more than three decades. He served as the head of the Energy Division of OPEC Secretariat for five years.

  • Zamani-Nia: OPEC should Protect Members by Relying on Partnership

    60th OPEC Anniversary

    Zamani-Nia: OPEC should Protect Members by Relying on Partnership

    TEHRAN (Shana) -- Iran’s OPEC governor Amir-Hossein Zamani-Nia says all member states of the Organization of the Petroleum Countries should oppose and decry – both in words and deeds – the use of oil as a political tool for exerting pressure and imposing embargo on oil producers.

  • OPEC Founders Achievements

    60th OPEC Annivesary

    OPEC Founders Achievements

    TEHRAN (Shana) -- OPEC has turned 60. So long a time. Why was OPEC established? What has it brought to the five founding members?

  • OPEC Turns 60; Achievements, Survival and Challenges

    60th OPEC Annivesary

    OPEC Turns 60; Achievements, Survival and Challenges

    TEHRAN (Shana) -- This year, the Organization of the Petroleum Exporting Countries (OPEC) is marking 60 years of its foundation. Every year an anniversary ceremony is held on September 14, i.e. the day of OPEC foundation, at the Secretariat of the Organization. In addition, this year a special ceremony was due to be held in Baghdad with OPEC Secretary General Mohammad Barkindo and heads of delegation of OPEC member countries in attendance to commemorate the 60th anniversary of OPEC establishment; however, despite all the required arrangements made by Iraq, due to global COVID-19 pandemic the ceremony was wisely agreed to be postponed to some other time.

  • “OPEC Turned Sixty: Happy Birthday OPEC”
  • OPEC Challenges in its 60s

    60th OPEC Annivesary

    OPEC Challenges in its 60s

    TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC), established in 1960 at the initiative of Venezuela and in cooperation with Iran, Saudi Arabia, Iraq and Indonesia, has been faced with a flurry of challenges over the past six decades given the global economic and social developments and the growth of oil production from conventional sources from non-oil producers, such as the growth of North Sea output in the mid-1970s and the growth of oil production from unconventional sources (shale oil) in recent years.

  • If only OPEC united against Political Saber-Rattling…

    60th OPEC Annivesary

    If only OPEC united against Political Saber-Rattling…

    TEHRAN (Shana) -- The establishment of the Organization of the Petroleum Exporting Countries, or OPEC for short, 15 years after the end of World War II can be seen as a sign of the efforts of the founding countries to oppose and resist the extravagant behavior of major oil companies, or the famous seven sisters, at that time. In the years before foundation of OPEC, each of the founding countries, namely Iran, Venezuela, Iraq, Saudi Arabia and Kuwait, faced myriad political and social upheavals.

  • OPEC's 60th Anniversary

    OPEC's 60th Anniversary

    VIENNA (Shana) -- OPEC has released a documentary about the 60th annivesary of its establishment.

  • OPEC Secretary General Goodwill Message on 60th OPEC Anniversary

    60th OPEC Annivesary

    OPEC Secretary General Goodwill Message on 60th OPEC Anniversary

    TEHRAN (Shana) -- OPEC Secretary General Mohammad Barkindo sent a goodwill message on the ocassion of the 60th anniversary of OPEC establishment.

  • OPEC turns 60

    60th OPEC Annivesary

    OPEC turns 60

    TEHRAN (Shana) -- The Fourteenth of September 2020 is a very special day for OPEC.  This sees the Organization celebrate its 60th anniversary.  Few would have foreseen six decades ago that the Organization would have risen to the heights it has today in the global energy arena. Back then in Baghdad, the five Founding Fathers of OPEC, Juan Pablo Pérez Alfonzo of Venezuela; Abdullah al-Tariki of Saudi Arabia; Dr Tala’at al-Shaibani of Iraq; Dr Fuad Rouhani of Iran; and Ahmed Sayed Omar of Kuwait gathered together in the Al-Shaab Hall in Baghdad, to midwife OPEC into the world. 

  • Commitment & Cooperation

    60th OPEC Annivesary

    Commitment & Cooperation

    VIENNA (Shana) -- Back in March and April, the world faced its largest oil demand shock in living memory.  On days in April, demand was 23 million barrels a day (mb/d) below that of 2019, the WTI May futures price contract went negative on April 20 and the global economy seemed to be teetering on abyss.  Every producer was impacted, no one was immune.

  • JMMC reiterates the importance of attaining full conformity for market stability

    JMMC reiterates the importance of attaining full conformity for market stability

    VIENNQ (Shana) -- The 21st Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday 19 August 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • Iran: “OPEC Performed Well in Oil Market.”

    Iran: “OPEC Performed Well in Oil Market.”

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the Organization of the Petroleum Exporting Countries (OPEC) had performed well in the oil market given the increase and stabilization of oil price in the market.

  • JMMC sees improving market conditions and conformity levels

    JMMC sees improving market conditions and conformity levels

    VIENNA (Shana) -- The 20th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 15 July 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • Market rebalancing, full commitment to conformity remains the focus – JMMC

    Market rebalancing, full commitment to conformity remains the focus – JMMC

    VIENNA (Shana) -- The 19th Joint Ministerial Monitoring Committee (JMMC) was held via videoconference, on Thursday, 18 June 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • OPEC and a Bug called "Sloppiness"

    OPEC and a Bug called "Sloppiness"

    TEHRAN (Shana) – The Organization of the Petroleum Exporting Countries (OPEC) is preparing for its 60th anniversary celebrations in September, marking one of the most volatile times in recent years. Although OPEC Secretariat has not been very agile and orderly in recent months, at least over the years since I started observing the Organization’s moves, and it is exhibiting signs of severe sloppiness which has not been hidden in the eyes of most local and foreign observers.

  • CORRECTED--OPEC Partners Agree to Extend 9.6 mb/d Output Cut

    CORRECTED--OPEC Partners Agree to Extend 9.6 mb/d Output Cut

    TEHRAN (Shana) -- Non-OPEC ministers gave the nod to OPEC’s earlier proposal for extending for another one month the previously reached agreement on cutting 9.6 mb/d from their output in a bid to help shore up prices.

  • Zangeneh: Oil Price Balance Tied to Global Economic Recovery

    Zangeneh: Oil Price Balance Tied to Global Economic Recovery

    TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said on Saturday that balance would be back to the oil market once the entire global economy would recover.

  • Iran: OPEC to Keep Cutting Output If Non-OPEC Agrees

    Iran: OPEC to Keep Cutting Output If Non-OPEC Agrees

    TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said OPEC ministers agreed on Saturday to continue cutting 9.7 mb/d from their output provided that non-member allies follow suit.