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What is OPEC?

OPEC is the Association of Petroleum Exporting Countries. It is a structure established by the countries that hold approximately two-thirds of the known world oil reserves. There are 12 countries in total within the organization. While these countries are producing a significant amount of oil, it is also possible to evaluate them as countries that meet the oil in the world.

 

What is the meeting Schedule in 2021?

Ordinary OPEC meetings are held twice a year in Vienna, the organization's headquarters. The next meeting will be held on 1 July.

 

What are the last outcomes (meeting notes)

At the meeting of the Organization of Petroleum Exporting Countries (OPEC) held in Vienna on 3 October, it was decided to stick to the decision to increase production by 400 thousand barrels/day in November. 

 

What trading opportunity do those meetings present?

The OPEC meeting is crucial for traders as oil production quotas for OPEC member states and certain non-voting observers are set during these meetings. These oil production quotas would have a great impact on the global supply of oil and of course influence its price. 

FED Announcements

The Fed meeting will be held on November 2-3. The decision taken after the meeting will be announced to the public

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OPEC Announcements

The OPEC meeting is crucial for traders as oil production quotas for OPEC member states and certain non-voting observers are set during these meetings

Learn more