AFP / Ryad Kramdi (Photo credit should read RYAD KRAMDI/AFP via Getty Images) Earlier this year, OPEC ... cuts for members in the fall. However, with oil prices in steep decline, the group just ...

Iran, Kuwait and Libya called on fellow OPEC members on December 18th to reduce production at the group’s next formal gathering in order to correct the current supply imbalance. Iran’s OPEC ...

The intergovernmental organization — which has since expanded to 13 members across the Middle ... led many economists to describe OPEC as a cartel – a group of entities that agree to fix ...