It is a wave of the white flag by OPEC, and likely a strategy shift that will last for years. And it's hard to see anything but upside from this move for America's shale oil industry.

By Alex Lawler LONDON (Reuters) -OPEC said on Tuesday that oil demand in 2022 faced challenges from Russia’s invasion of Ukraine and rising inflation as crude prices soar, increasing the ...

A growing portion of Russia's oil tanker fleet is being forced to reflag as U.S. and U.K. sanctions intensify pressure on ...

Asked about Trump's comments, Saudi Economy Minister Faisal al-Ibrahim told a panel at the World Economic Forum in Davos on Friday that Saudi Arabia and OPEC were seeking long-term oil market ...

ASHEVILLE, NC., Jan 24 (Reuters) - U.S. President Donald Trump on Friday reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia's finances and help bring an end to the war in Ukraine.

In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.

September 27, 2016. Oil prices rose modestly ahead of a meeting of producers from the Organization of the Petroleum Exporting Countries (OPEC) cartel and Russia in Algeria on September 28 that ...

President Donald Trump called on OPEC states to slash oil prices as a way to get Russia to the negotiating table and bring an end to the war in Ukraine — but the move could backfire on the US ...

OPEC’s biggest drop, of 90,000 bpd, came from the UAE, the survey found. A source said field maintenance was the reason for the decline, and the survey put output at 2.85 million bpd. Iran’s ...

and constantly changing ship names and flags. Entities managing the ships affected by US sanctions are based in the United Arab Emirates, China, India, Hong Kong, the Marshall Islands, and Panama ...

Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas. It follows last month's decision by the 13-member cartel and 10 allied nations to further ...