The Middle Eastern Kingdom of Saudi Arabia straddles the Arabian Peninsula, bordered by Jordan, Kuwait and Iraq in the north and Oman and Yemen in the south. It is the 14 th largest country in the world, covering around two million square kilometres, making it the second largest OPEC Member Country.

The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. They were to become the Founder Members of the Organization.

OPEC plus countries Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April 2023 and November 2023 held a virtual meeting on the sideline of the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM).

Jan 23, 2025 · The president says he wants Opec and Saudi Arabia to bring down the price of oil which he says is fuelling the Russia-Ukraine war.

The Kingdom of Saudi Arabia is a member of the Organization of the Petroleum Exporting Countries (OPEC) as a founding member of OPEC, the Kingdom possesses two unique attributes that grant it strategic importance as a global supplier of crude oil.

Makkah Royal Clock Tower in the historic center of Mecca, Saudi Arabia. Occupying about four-fifths of the Arabian Peninsula and bordered by Jordan, Iraq and Kuwait to the north, by …

Jun 6, 2023 · FRANKFURT, Germany (AP) — Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in …

Mar 3, 2024 · Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organization noted Sunday. Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024’s second quarter.

Dec 10, 2024 · OPEC+ extends oil production cuts to April 2024 and 2026 amidst geopolitical uncertainty. Trump’s stance on OPEC includes pushing for lower oil prices within his preferred range. U.S....

Jan 30, 2024 · Saudi Arabia's government on Tuesday ordered state oil company Saudi Aramco to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per...