Organization of the Petroleum Exporting Countries

Built World

As of October 2026: Coordinating oil production among member nations

American oil production hit 10 million barrels a day in November 2017, a level not seen since 1970. By early 2018, the United States had overtaken Saudi Arabia and Russia to become the world's largest crude oil producer.

Updated Oct 5

Rule Changes

As of September 2026: Cited in FTC complaints as a cartel coordinating production

In 2024 the Federal Trade Commission approved two giant oil mergers on one condition: the acquired CEOs would not join the acquirer's board. The agency said their private OPEC communications risked aligning US output with the cartel.

Updated Sep 26

Money Moves

As of May 2026: Loses 13% of capacity; price-setting leverage diminished

The United Arab Emirates joined OPEC in 1967, when crude sold for under $2 a barrel. On May 1, 2026, after fifty-nine years, it walks out—taking roughly 13% of OPEC's production capacity, according to the International Energy Agency.

Updated May 31