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.

Crude oil is dispensed into a bottle in this illustration photo. — REUTERS LONDON – OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, ...

OPEC lowered its global oil demand growth forecast for 2024 and 2025 due to weaker demand revisions in China and other Asian markets. This marks the fourth consecutive month of downward revisions ...

LONDON, Oct 14 (Reuters) - OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the ...