189th Meeting of the OPEC Conference concludes
10 Dec 2024 | Via videoconference
The 189th (Ordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened today, 10 December 2024, under the Chairmanship of its President, HE Marcel Abeke, Minister of Petroleum of the Gabonese Republic and Head of its Delegation.
Read moreDeclaration of Cooperation reaches eight years
10 Dec 2024 | Vienna, Austria
The Declaration of Cooperation between OPEC Member Countries and non-OPEC oil-producing countries has turned eight today, 10 December 2024.
Read more189th OPEC Conference to take place on 10 December
05 Dec 2024 | Vienna, Austria
The 189th (Ordinary) Meeting of the OPEC Conference will take place on Tuesday, 10 December 2024, via videoconference, under the presidency of HE Marcel Abeke, Minister of Petroleum, and President of the Conference for 2024.
Read moreSaudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held a virtual meeting on the sidelines of the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM)
05 Dec 2024 | Via videoconference
OPEC plus countries Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April 2023 and November 2023 held a virtual meeting on the sideline of the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM).
Read more38th OPEC and non-OPEC Ministerial Meeting
05 Dec 2024 | Vienna, Austria
In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, and to provide long-term guidance and transparency for the market, and in line with the approach of being precautious, proactive, and pre-emptive, which has been consistently adopted by OPEC and non-OPEC Participating Countries in the Declaration of Cooperation, the Participating Countries decided to:
Read moreHistoric Vienna Agreement turns eight
30 Nov 2024 | Vienna, Austria
Today marks the eighth anniversary of the landmark ‘Vienna Agreement’ reached at the 171st Meeting of the OPEC Conference held on 30 November 2016 in Vienna, Austria.
Read more57th JMMC Meeting and 38th ONOMM moved to 5 December
28 Nov 2024 | Vienna, Austria
The 57th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM), originally planned for 1 December 2024, have been rescheduled to Thursday, 5 December 2024, via videoconference, as several Ministers will be attending the 45th Gulf Summit in Kuwait City, the State of Kuwait.
Read moreOPEC and the Russian Federation highlight the importance of oil and energy markets stability in driving economic growth
22 Nov 2024 | Moscow, Russia Federation
[Joint Press Release] The Organization of the Petroleum Exporting Countries (OPEC) and the Russian Federation held the Ninth High-level Meeting of the OPEC-Russia Energy Dialogue today, 22 November 2024, in Moscow, the Russian Federation.
Read moreGECF and OPEC Strengthen Collaboration on Climate and Energy Issues at COP29 in Baku
19 Nov 2024 | Baku, Azerbaijan
[JOINT PRESS RELEASE] The Gas Exporting Countries Forum (GECF) and the Organization of the Petroleum Exporting Countries (OPEC) convened their third coordination meeting on 19 November 2024, during COP29 in Baku, Republic of Azerbaijan. The meeting underscored the ongoing cooperation between the two organizations and highlighted the significance of their collaboration in addressing the challenges of climate change and energy security.
Read moreSaudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman extend the 2.2 mbd voluntary adjustments for one month until end of December 2024
03 Nov 2024 | Vienna, Austria
The OPEC Secretariat noted that the eight OPEC+ countries Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April and November 2023, have agreed to extend the November 2023 voluntary production adjustments of 2.2 million barrels per day for one month until the end of December 2024.
Read moreFifth High-Level Meeting of the OPEC-GECF Energy Dialogue highlights the importance of oil and gas for prosperity and progress
10 Oct 2024 | Vienna, Austria
[Joint Communique] The Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) held the Fifth High-Level Meeting of the OPEC-GECF Energy Dialogue on Thursday, 10 October 2024, via videoconference.
Read more56th Meeting of the Joint Ministerial Monitoring Committee
02 Oct 2024 | Vienna, Austria (via videoconference)
The Joint Ministerial Monitoring Committee (JMMC) reviewed the crude oil production data for the months of July and August 2024 and current market conditions.
Read moreAlgiers Accord turns eight: Historic testament to OPEC’s unwavering commitment to oil market stability
28 Sep 2024 | Vienna, Austria
The historic Algiers Accord, signed by OPEC Member Countries in 2016 in Algiers, Algeria, reached eight years today.
Read moreOPEC launches WOO 2024 and sees global oil demand at over 120 mb/d in 2050
24 Sep 2024 | Rio de Janeiro, Brazil
The 2024 OPEC World Oil Outlook (WOO) was launched today at the ROG.E conference in Rio de Janeiro, Brazil. First published in 2007, and now in its 18th edition, the Organization’s flagship annual publication offers a detailed review and assessment of the medium- and long-term prospects for the global oil and energy sectors.
Read moreOPEC marks its 64th Anniversary
14 Sep 2024 | Vienna, Austria
The Organization of the Petroleum Exporting Countries (OPEC) today turned 64, celebrating more than six decades of exceptional achievements and success.
Read moreSaudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman extend voluntary cuts
05 Sep 2024 | Vienna, Austria
The OPEC+ countries, which previously announced additional voluntary cuts in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on September 5th, 2024, during which the eight member countries emphasized their collective resolve to ensure full compliance with the voluntary production adjustments. The group includes Iraq and Kazakhstan, who have overproduced since January 2024, but have strongly reaffirmed their commitment to the agreement and to their compensation schedules submitted to the OPEC Secretariat as agreed under the 53rd meeting of the JMMC on April 3rd 2024.
Read moreOPEC Secretary General concludes successful missions to Iraq and Kazakhstan
29 Aug 2024 | Vienna, Austria
In coordination with HRH Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia and the Chairman of the OPEC and non-OPEC Ministerial Meetings under the Declaration of Cooperation (DoC), HE Haitham Al Ghais, OPEC Secretary General, has concluded official visits to Iraq and Kazakhstan to discuss market conditions and underscore the critical importance of ensuring that ongoing oil market stabilization efforts by DoC Participating Countries are successful.
Read moreOPEC Secretariat receives updated compensation plans from Iraq and Kazakhstan
22 Aug 2024 | Vienna, Austria
The 37th OPEC and non-OPEC Ministerial Meeting (ONOMM) held 02 June 2024 reiterated the critical importance of adhering to full conformity and the compensation mechanism.
Read more55th JMMC Meeting Highlights Commitment to Production Conformity and Continued Oil Market Assessment
01 Aug 2024 | Vienna, Austria
The Joint Ministerial Monitoring Committee (JMMC) reviewed the crude oil production data for the months of May and June 2024 and noted the high overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).
Read moreOPEC Secretariat receives compensation plans from Iraq, Kazakhstan, and Russian Federation
24 Jul 2024 | Vienna, Austria
The 37th OPEC and non-OPEC Ministerial Meeting (ONOMM) held 02 June 2024 reiterated the critical importance of adhering to full conformity and the compensation mechanism.
Read more37th OPEC and non-OPEC Ministerial Meeting
02 Jun 2024 | Vienna, Austria
In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, and to provide long-term guidance and transparency for the market, and in line with the approach of being precautious, proactive, and pre-emptive, which has been consistently adopted by OPEC and non-OPEC Participating Countries in the Declaration of Cooperation, the Participating Countries decided to:
Read moreSaudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met in person in Riyadh on the sidelines of the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM)
02 Jun 2024 | Riyadh, Saudi Arabia
Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met in person in Riyadh on the sidelines of the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM)
Read moreCOP29-OPEC High-Level Energy Dialogue
22 May 2024 | Vienna, Austria
In a historical joint effort to enhance cooperation and foster inclusivity, the COP29 Presidency and OPEC today held a High-Level Dialogue at the OPEC headquarters in Vienna, ahead of the climate change conference COP29 which will be held in Baku, Azerbaijan from 11 to 22 November 2024.
Read moreOPEC conveys its condolences on the tragic passing of Iranian President Raisi
20 May 2024 | Vienna, Austria
The Organization of the Petroleum Exporting Countries (OPEC) extends its sincerest and deepest condolences on the passing of HE Ayatollah Dr Ebrahim Raisi, President of the Islamic Republic of Iran, to his family, the leadership and people of the Islamic Republic of Iran, and the entire OPEC Family.
Read moreOPEC holds constructive workshop between Iraq, Kazakhstan and secondary sources on compensation plans
03 May 2024 | Vienna, Austria
The 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) held 04 Jun 2023 reiterated the critical importance of adhering to full conformity, and subscribing to the concept of compensation. Furthermore, the 53rd Meeting of Joint Ministerial Monitoring Committee (JMMC) held on 3 April 2024 stated that participating countries with outstanding overproduced volumes for the months of January, February and March 2024 will submit their detailed compensation plans to the OPEC Secretariat by 30 April 2024.
Read more53rd Meeting of the Joint Ministerial Monitoring Committee
03 Apr 2024 | Vienna, Austria
The 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 03 April 2024.
Read more10th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets
26 Mar 2024 | Vienna, Austria
[Joint Press Release] The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) held the 10th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets.
Read moreThe Seventh High-Level Meeting of the OPEC-China Energy Dialogue takes place in Vienna
19 Mar 2024 | Vienna, Austria
[Joint Conclusion] The Seventh High-Level Meeting of the OPEC-China Energy Dialogue was held today, 19 March 2024, at the OPEC Secretariat in Vienna, Austria.
Read moreSeveral OPEC+ countries announce extension of additional voluntary cuts of 2.2 million barrels per day for the second quarter of 2024
03 Mar 2024 | Vienna, Austria
The OPEC Secretariat noted the announcements of several OPEC+ countries extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting the stability and balance of oil markets.
Read moreOPEC and Africa exchange views on array of key energy issues
19 Feb 2024 | Cairo, Egypt
[Joint Press Release] The 2024 annual OPEC-Africa Energy Dialogue was held today in Cairo where participants conducted open and transparent discussions on a wide array of key topics related to energy and oil, including energy security, risk of underinvestment, climate change and energy transitions.
Read more52nd Meeting of the Joint Ministerial Monitoring Committee
01 Feb 2024 | Vienna, Austria
The 52nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Thursday, 01 February 2024.
Read moreOPEC and non-OPEC oil-producing countries re-affirm commitment to unity, full cohesion and market stability through the Declaration of Cooperation (DoC)
03 Jan 2024 | Vienna, Austria
At the outset of 2024, the OPEC Secretariat in consultation with OPEC Member Countries and the non-OPEC producing countries participating in the DoC, re-affirms the full commitment by the countries participating in the DoC to unity and cohesion, as well as their continued and unwavering efforts to maintain oil market stability going forward through the Declaration of Cooperation, signed on 10 December 2016 and further endorsed in subsequent meetings.
Read more