Questions tagged [opec]

The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded on 14 September 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna, Austria.

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Why has Russia declined OPEC's request to cut oil production?

On Friday, Russia declined to participate in a plan devised by the Saudi-led Organization of the Petroleum Exporting Countries (OPEC) to cut oil production levels, in order to keep oil prices steady ...