News and updates about Opec

US energy sec laughs at gas price question: 'That is hilarious'

U.S. Energy Secretary Jennifer Granholm laughed at a question regarding lack of domestic oil production, stating, “That is hilarious.”

US energy sec laughs at gas price question: 'That is hilarious'

OPEC: Iran still a 'very important member'

Head of OPEC says Iran is still an important member of the oil cartel as US sanctions set to kick in.

OPEC: Iran still a 'very important member'

Analyst: Soon to be Broke Saudis 'Fooled Themselves' on Oil

A gambit by Saudi Arabia to break the back of its oil competition has fallen flat on its face, a respected UK analyst said Wednesday.

Analyst: Soon to be Broke Saudis 'Fooled Themselves' on Oil

US to Allow Oil Exports for First Time in 40 Years

Now officially the world's largest producer, the United States will, for the first time since 1975, allow the export of “made in USA” oil.

US to Allow Oil Exports for First Time in 40 Years

Rouhani: Oil Price Drop is A 'Plot' Against Us

The falling price of oil is an international plot by Western countries to denude the Islamic world of its greatest asset, Iran said.

Rouhani: Oil Price Drop is A 'Plot' Against Us

Iran President Chooses New Nuclear Chief Negotiator

President-elect Hassan Rohani has chosen a new nuclear negotiator to represent Iran at talks with the international community.

Iran President Chooses New Nuclear Chief Negotiator

Giant Explosion at Venezuela's Largest Oil Refinery

Venezuela's largest oil refinery went up in flames Saturday, leaving 26 dead and some 80 people wounded, officials said.

Giant Explosion at Venezuela's Largest Oil Refinery

India Forced to Cancel Major Iranian Oil Deal

The sanctions noose continues to tighten as Iranian oil consumers find insurance for their oil shipments cut off in Europe.

India Forced to Cancel Major Iranian Oil Deal