OPEC's annual report for 2015 revealed that the oil producing cartel anticipates a drop in demand for its oil by 2020. Despite low prices, shale oil is set to play a significant role in the future energy mix, according to the report.
Qatar's Minister Al Sada highlights higher global GDP growth in 2016 presenting upward pressure on OPEC oil demand.
Faced by shrinking natural resources is it perhaps time that OPEC and its Shale rivals consider a more collaborative approach to competition?
Southeast Asia's largest economy seeks to rejoin oil producers group following six-year absence.
OPEC in its latest monthly report has increased its forecasts for global oil demand next year that would outpace the growth of oil supply from both OPEC and non-OPEC sources.
Venezuela and Algeria have called for a summit to address low global oil prices caused by market over supply
Brent Crude prices fell by a dollar per barrel as OPEC failed to secure a new production cap.
Group continues to blame market speculators and oversupply as main culprits for initial drop in prices and sluggish recovery.
Production levels of 33.21 million bpd represent a year on year increase of 510,000 bpd for OPEC, which will raise eyebrows in some quarters as the cartel continues its strategy of keeping supply levels high, even during the current era of low oil prices.
Easing supply from Iraq helped to reduce OPEC's contribution to the global energy mix by around 0.5% in December.
Agency expects global oil supply growth to remain at a steep 3.2 million bpd on a year-on-year basis in April despite slowdown of US light tight oil production.
Latest Platts survey questions whether Saudi Arabia and IEA can continue to compensate for output drawdown in Libya and Iran.
US$2.95 billion cash transaction expected to add 130,000 boepd to Sinopec's production.
Gulf producers put on brave face as oil dips below $60 - see current trend that will correct itself eventually.
Production levels declined in the UAE, Libya, Nigeria, and Venezuela in March, but this was counterbalanced by a dramatic increase in Iranian production levels.