Latest OPEC News

Families bid farewell to miners killed in Venezuela's worst mining accident in years

Feb. 22, 2024 18:07 PM EST

LA PARAGUA, Venezuela (AP) — Families and friends began burying loved ones on Thursday who were among at least 16 people killed in the collapse of an illegally operated gold mine in a remote area of central Venezuela. The tributes come as anger mounts at the government's slow...

Potential $50 billion Southwestern energy giant emerges as Diamondback seeks to buy rival Endeavor

Feb. 12, 2024 10:15 AM EST

Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. Growing confidence in an economic recovery, particularly in the U.S., has driven massive deals in the energy sector in...

Angola is leaving OPEC oil cartel after 16 years after dispute over production cuts

Dec. 21, 2023 11:32 AM EST

LONDON (AP) — Angola announced Thursday that it's leaving the OPEC oil producers cartel, coming after it battled with the group over lower production quotas this year. Diamantino de Azevedo, the African nation's oil minister, said Angola “does not gain anything by remaining in...

Brazil's Lula takes heat on oil plans at UN climate talks, a turnaround after hero status last year

Dec. 10, 2023 07:25 AM EST

DUBAI, United Arab Emirates (AP) — Fresh off election victory, a year ago Brazilian President-elect Inacio Lula da Silva was the star of the annual U.N. climate talks. Lula promised to crack down on deforestation and turn Brazil into an environmental leader, a complete turnaround...

Observers see OPEC 'panicking' as COP28 climate talks focus on possible fossil fuel phase-out

Dec. 09, 2023 14:13 PM EST

DUBAI, United Arab Emirates (AP) — Veteran negotiators at the United Nations climate talks Saturday said that the push to wean the world from dirty fossil fuels had gained so much momentum that they had poked a powerful enemy: the oil industry. Late Friday, multiple news sources...