Dec 23, 2014
Oil, whose price has halved in the past year, accounts for 95 percent of the country’s exports and 45 percent of the government’s budget.
Dec 22, 2014
Members of the oil cartel could get higher prices if they cut production but there would be a cost.
Nov 27, 2014
With oil prices falling, the group will have to give up market share or profits.
Nov 26, 2014
Changes in global supply and demand have weakened OPEC's influence in the market.
Oct 2, 2014
A global glut of oil has potential to pit key suppliers in a price war.
Jun 25, 2014
Ultralight oil made by fracking is seeping through cracks in the U.S. ban on oil exports.
May 30, 2013
The boom in U.S. oil production has disrupted global oil’s pecking order and caused fractures inside the once all-powerful OPEC.
Dec 31, 2012
OPEC earned a record $1 trillion in revenues in 2012, and the average price of oil was the highest ever.
Oct 2, 2012
The OPEC oil embargo nearly 40 years was a shock to the U.S. and its economy. But the long-term effects proved a shock to Saudi Arabia and other OPEC members, who learned that oil and politics don't mix.