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OPEC

12-member oil cartel; Q2 2026 Brent collapsed 30% despite successive production-increase approvals.

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#25 23 Jul
#8 11 Jun

Published June MOMR trimming 2026 demand growth to 970kb/d, a third successive cut

European Oil Markets: EIA and OPEC both cut 2026 demand
#85 30 Apr
#84 30 Apr

Lost the UAE as a member on 1 May, removing 5 million bbl/day from quota discipline

Iran Conflict 2026: Brent settles at $123, new wartime high
#83 28 Apr

Lost third-largest member to structural exit

Iran Conflict 2026: UAE quits OPEC effective 1 May