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Oil Cartel
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View Timeline →Oil Prices Surge
Oil prices, specifically Brent and the OPEC basket, have risen. This development is significant for global markets and economies reliant on oil exports. The increase…
Acting Oil Minister Meets Venezuelan Oil Minister in Moscow
The acting Oil Minister of Iran and the Venezuelan Oil Minister held discussions in Moscow regarding current oil market trends and OPEC-related agreements. This meeting…
GECF Ministerial Meeting: An Opportunity to Expand Cooperation
The GECF ministerial meeting is set to take place, allowing Iran to express its perspectives on geopolitical changes and the natural gas market. This meeting…
Iran's Heavy Oil Price Jumps by $24
Iran's heavy oil price surged by $24.59 in September 2026, reaching $105.84 per barrel. This increase reflects a significant rise from the previous month's average…
OPEC Basket Price Increases by Over $24 in September 2026
In September 2026, the average price of the OPEC basket rose significantly, surpassing $110 per barrel. This increase is notable as it reflects the ongoing…
OPEC Lowers Oil Demand Forecasts for 2026, Implications for Iran's Economy
OPEC has revised its oil demand projections downward for the remainder of 2026, indicating a potential decrease in global oil consumption. This decision involves OPEC…
Saudi Arabia Drives OPEC+ Oil Production Surge Amidst Iranian Conflict Disruptions
In September, Saudi Arabia led a significant increase in oil production among OPEC+ countries, despite disruptions caused by the ongoing conflict in Iran. This development…
Saudi Arabia Increases OPEC+ Oil Production in September Amidst Iranian Conflict
In September, Saudi Arabia led an increase in oil production among OPEC+ countries, despite disruptions caused by the ongoing conflict in Iran. This situation highlights…
OPEC+ Warns of Increased Energy Transportation Costs Due to Supply Disruptions
OPEC+ ministers have issued a warning regarding rising transportation and insurance costs linked to supply disruptions. This involves member countries of OPEC+, highlighting the potential…
OPEC Lowers Oil Demand Growth Forecast for 2026
OPEC has revised its oil demand growth forecast for 2026 downward, signaling potential challenges in the global oil market. This announcement comes from the Secretary-General…
OPEC Secretary-General Congratulates Appointment of Acting Oil Minister
Haitham Al-Ghais congratulated Hamid Bord on his new role as the Acting Oil Minister of Iran. This appointment is significant as it reflects ongoing developments…
OPEC+ Maintains November Oil Output Targets Amid Ongoing Conflict in Iran
OPEC+ has decided to maintain its oil output targets for November despite the ongoing conflict in Iran. This decision involves member countries of OPEC and…
OPEC+ Monitoring Committee Emphasizes Protection of Energy Infrastructure
The OPEC+ Ministerial Monitoring Committee met to discuss the importance of supply security and the protection of energy infrastructure. This gathering involves key oil-producing nations…
OPEC+ Freezes Oil Output Targets Amidst Disruptions from Iran Conflict
OPEC+ has decided to freeze output targets again due to disruptions in Gulf exports caused by the ongoing conflict in Iran. This decision involves member…
Oil Production of Seven OPEC+ Members Stabilized in November 2026
Seven OPEC+ members have committed to stabilizing oil production and have stressed the importance of stopping the voluntary supply cuts in November. This decision reflects…
OPEC+ Maintains Oil Production Targets Amidst Iran Conflict
OPEC+ has decided to maintain its current oil production targets despite the ongoing conflict in Iran, which is limiting potential production increases. This decision involves…
OPEC+ to Maintain November Oil Production Targets
OPEC+ has decided to maintain its oil production targets for November, which impacts global oil markets. This decision involves member countries of OPEC and their…
OPEC+ Delays Review of Oil Production Capacity
OPEC+ has postponed its plans to assess oil production capacity and set quotas for its members for 2027. This decision involves key oil-producing nations and…
OPEC+ Delays Oil Capacity Review Amidst Iran Conflict
OPEC+ has postponed its review of oil production capacity to mid-November due to disruptions caused by the ongoing conflict in Iran. This decision involves key…
OPEC+ Delays Oil Capacity Review Due to Iran Conflict Disruptions
OPEC+ has postponed its oil capacity review due to disruptions caused by the ongoing conflict in Iran, impacting expansion plans. This decision involves key oil-producing…