No single country controls oil prices. Here's how global markets, benchmarks and events shape what you pay.

As the IEA plans a record oil reserve release during the Iran war, here is how global crude supply is shaped by producers like Opec and consumer alliances managing strategic stockpiles.

OPEC+ kept oil output unchanged on Sunday after a quick meeting that avoided discussion of the political crises affecting several of the producer group’s members. Sunday’s meeting of eight members of ...

The U.S. Energy Information Administration quietly rewrote a key assumption about the global oil market this week: OPEC can produce more oil than previously thought. In its December Short-Term Energy ...

Eleven days later, several Arab members of the Organization of the Petroleum Exporting Countries (OPEC) announced they would ...

Iraq's near-total dependence on oil revenues and its inability to bypass the Strait of Hormuz has sent its economy into ...

Opec secretary general Haitham Al Ghais and his Opec research team unveiled the group's latest annual World Oil Outlook at the ROG.e 2024 event in Rio de Janeiro World oil demand will soar by almost ...

By Olesya Astakhova, Alex Lawler and Ahmad Ghaddar LONDON/MOSCOW, March 1 (Reuters) - OPEC+ agreed a modest oil output boost of 206,000 barrels per day for April on Sunday just as the U.S.-Israeli war ...

The Organisation of the Petroleum Exporting Countries (OPEC) said on Wednesday that Saudi Arabia sharply increased oil ...

NEW YORK - APRIL 15: Traders call out during activity in the crude oil options area on the floor of the New York Mercantile Exchange April 15, 2008 in New York City. Oil prices set a new record high ...

Add Yahoo as a preferred source to see more of our stories on Google. The Opec oil cartel has sought to prop up the oil price - Dado Ruvic/Reuters The United Arab Emirates has been accused of defying ...

The focus of this post is an overview of world oil production along with a more detailed review of the top 11 non-OPEC oil-producing countries. The world’s October oil production decreased by 67 kb/d ...