OPEC

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Market Body Slams OPEC

Things just aren't going OPEC's way.

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Desperate Saudis, Russians Agree to Extend Oil Production Cuts

OPEC just can’t figure out how to kill the U.S. shale boom.

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Take A Wild Ride on The Oil Price Roller Coaster

No wonder OPEC has been feeling so nauseous lately.

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Amid Oil Glut, OPEC Finally Agrees to Curb Crude Production

Oil prices surged after OPEC announced a new production cut. But will it be enough to help the group escape the bottom of the barrel?

An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, June 2, 2016. Saudi Arabia is ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the group as good as dead. Photographer: Akos Stiller/Bloomberg via Getty Images

OPEC Is in its Death Throes

The latest bluster by Saudi Arabia won't scare America’s oil producers – or solve its own existential crisis.

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U.S. to OPEC: Don’t Drill, Baby, Don’t Drill

OPEC collusion used to be bad news for America. Now, the oil patch is cheering signs the cartel might rein in production.

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The Era of Cheap Oil Is Coming to an End

Prices have been low for more than two years. With demand rising and supply falling, that’s all beginning to change.

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To Punish Iran, Saudis Scuttle Oil-Freeze Plan

Crude prices fell after big oil producers failed to rein in output — fruit of Saudi Arabia’s strategic rivalry with Iran.

Ali Bin Ibrahim al-Naimi, Saudi Arabia's petroleum and mineral resources minister, arrives ahead of the 168th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Friday, Dec. 4, 2015. Oil headed for its fourth decline in five weeks as the Organization of Petroleum Exporting Countries looked set to leave its production ceiling unchanged at a meeting in Vienna on Friday. Photographer: Lisi Niesner/Bloomberg via Getty Images

Saudi Arabia’s Destructive Oil Freeze

Riyadh has positioned global oil markets for a never-ending series of boom-and-bust cycles.

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Saudi Oil Minister: Production Cut ‘is Not Going to Happen’

Cheap oil will last a while longer, as Saudi Arabia makes clear it’s not going to take it on the chin to save beleaguered U.S. producers.

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Don’t Blame China for Plunging Oil Prices

Like other markets buffeted by Chinese economic headwinds, the oil market is in free-fall. But China’s slowdown isn’t really doing much to dampen its thirst for oil.

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Oil Prices Have Hit a 10-Year Low. They’re Not Going to Stay There.

With demand still growing and output finally shrinking, today’s cheap oil could nearly triple in price in coming years.

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OPEC’s Failure to Reduce Oil Output to Keep U.S. Gas Prices Low

OPEC's failure to agree on output will keep U.S. gas prices low.

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Top Economist: OPEC Is Preparing for ‘Long-Term Type of War’

The research chief of Abu Dhabi’s $750 billion investment fund believes the oil cartel will keep pumping, even though prices are low and there’s already too much of the stuff.

SAN FRANCISCO - MAY 31:  Gas customers wait in a long line to get discounted gasoline May 31, 2007 in San Francisco, California. Shell gas station owner Bob Oyster dropped his gas prices to below $3.00 per gallon for all grades as he prepares to close his gas station after Shell Corporation attempted to raise his rent to over $13,000 per month. Hundreds of people lined up for the cheap gas, some waiting as long as 40 minutes.  (Photo by Justin Sullivan/Getty Images)

The Promise and Peril of Cheap Oil

Everyone likes $2 gasoline. But what if it's bad for the long-term growth of the U.S. economy — and for global stability?

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Global Thinkers 2015 Issue Cover