OPEC has grown from five to 12 members since 1960

In 2016 OPEC and 10 major producers—including Russia—launched OPEC+

OPEC+ emerged in 2016 when 10 additional producers, including Russia, joined to stabilize markets amid U.S. shale growth. In 2022, OPEC alone supplied 38 % of global crude oil, but combined with OPEC+, output reached nearly 59 % of world production—significantly amplifying its market power.

Explore OPEC’s official webpage

OPEC’s official website offers a comprehensive hub for its core work—featuring press releases, monthly and statistical reports, digital publications like the World Oil Outlook and Annual Statistical Bulletin, and other research center materials.

OPEC can roll out production cuts among its members to control oil’s global supply and price

The Organization of the Petroleum Exporting Countries (OPEC) was created to coordinate and unify petroleum policies to secure fair and stable prices. During the pandemic, for instance, the organization pushed through production cuts in an attempt to stabilize prices.

OPEC often intervenes to influence the price of oil

This guide explains how investing in oil works with in-depth explanations of each of the forces that control oil’s price. Oil is unique as a commodity in part because of OPEC’s role in regulating its price.

The 1967 war was the first use of oil as a geopolitical weapon

Following the June 1967 Arab–Israeli war, Saudi Arabia, Kuwait, Iraq, Libya, and Algeria embargoed oil shipments to the US, UK, and West Germany. While the move did not have a large impact, it reshaped global oil flows, and foreshadowed OAPEC's later actions.

View a breakdown of worldwide oil production since 1900, mostly led by the US

When analyzing the production of crude oil, shale oil, oil sands, and condensates since the start of the 20th century, Saudi Arabia produced more crude oil only in 1977, from 1979 to 1981, and from 1991 to 2016. Nations such as Iraq and the United Arab Emirates produced much smaller quantities than both Saudi Arabia and the US.

As of 2024, the nation with the largest proven oil reserves is Venezuela

According to estimates derived from available geological and engineering data, the South American country possesses about 303 billion barrels of underground crude oil, followed by Saudi Arabia (267.2 billion) and Iran (208.6 billion). Many of the largest reserves are held by members of the Organization of the Petroleum Exporting Countries.

Spare capacity is the amount of oil production that can be brought online within 30 days and sustained for at least 90 days

Specifically, a country’s “spare capacity” signifies the difference between its maximum sustainable oil production and its current output. OPEC member countries hold nearly all of the world’s spare oil production capacity. Historically speaking, Saudi Arabia has been the country with the largest spare capacity.

The Arab League has 22 members and very little enforcement power

It was founded in Cairo in 1945 and spans 22 nations across the Middle East and North Africa, ostensibly to coordinate policy on economics, culture, and defense. Its charter says any resolution only binds states that voted for them, rendering most of them toothless.

The Seven Sisters were a dominant midcentury Western oil consortium

Amid the fallout of World War II, Western multinational corporations expanded their control of the production of oil across the oil-rich Middle East, earning the pejorative nickname of the Seven Sisters. In the 1970s, the group’s role diminished as nationalist movements pursued sovereign control of the oil.

As oil revenues decline, many Gulf States are investing in professional sports through sovereign wealth funds

Gulf States—including the United Arab Emirates, Qatar, and Saudi Arabia—have invested tens of billions of dollars in professional sports, owning high-profile soccer clubs like Paris Saint-Germain and Manchester City. Many of these investments have been characterized as an increase in these countries' soft power, or global cultural influence, in Western countries, where the Middle East remains relatively misunderstood.

CIA factbook on the Middle East

The CIA’s World Factbook provides a comprehensive overview of 19 Middle Eastern nations. A wide range of background information is provided for: Armenia, Azerbaijan, Bahrain, the Gaza Strip, Georgia, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon,...

193 nations are members of the United Nations

The UN's Member States webpage provides an alphabetical list of all 193 member countries, along with the exact dates they were admitted. Take a look at how the UN has expanded over time and understand each nation's place in the global organization.

How Standard Oil created Chevron and ExxonMobil

Standard Oil was eventually ordered to separate into 34 different entities, and over the following years, those 34 companies merged into what is now called the “Big Four” in the oil industry.

As of 2024, China is the largest overall contributor to global greenhouse gas emissions

Due to its large population, the nation's per capita emissions continue to lag behind those of the US, Canada, Russia, Australia, and Saudi Arabia. The Arab country has experienced the most significant increase in per capita greenhouse gas emissions since 1990, now leading the world at 22.8 metric tons of carbon dioxide equivalent per capita.

Explore 25 of the world's richest universities beyond the US

This article from The College Post highlights 25 of the wealthiest universities outside the United States. It showcases institutions like King Abdullah University of Science and Technology (KAUST), the University of Oxford, and the University of Hong Kong. Learn more about the global landscape of higher education funding.

Iran's Revolutionary Guard Corps became one of the most powerful forces in the Middle East

Created after the 1979 revolution to protect the new Islamic Republic, the IRGC grew into a force that controls Iran's ballistic missile arsenal, funds, and arms regional proxy groups such as Hezbollah and Hamas, and answers directly to the supreme leader.

Iran's Revolutionary Guard Corps is independent of Iran's regular army and is one of the most powerful and influential military-political organizations in the Middle East.

Mapping projected food inflation across the world in 2026

Iran tops the list of hardest-hit countries with a projected 56% inflation on food prices in 2026, followed by Argentina (33%) and Turkey (25%). In the opposite direction is Niger, whose food inflation is expected to drop 18% as a result of strong harvests and financial stabilization. The global average of food inflation is expected to be 3%.

How amendments to the Montreal Protocol have expanded global ozone protections

Since 1990, five major amendments—London, Copenhagen, Montreal, Beijing, and Kigali—have accelerated chemical phase-outs, added new substances, such as hydrochlorofluorocarbons, and tightened enforcement.

See who attended Davos 2025

Each year, Davos draws one of the most exclusive guest lists in the world. In 2025, attendees included 60 heads of state, over 900 CEOs and corporate chairs, and top leaders from global civil society, who gathered in the Swiss Alps.

Relationships between countries have become more peaceful since the rules-based order was established

Our World in Data monitors bilateral relationships on a spectrum from open rivalry to "positive peace"—deep cooperation and mutual protection. In 1945, no countries had highly cooperative security relationships. Today, nearly a fifth do.

Of the 12 voting policymakers at every Federal Open Market Committee meeting, 4 are present on a rotating basis

To allow for diverse regional perspectives in the votes on monetary policy, heads of regional banks hold voting power on two- or three-year cycles.

The Soviet Union consisted of 15 Soviet Socialist Republics

The USSR comprised 15 republics—Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan—all governed from Moscow, the Soviet capital and still Russia’s capital today.

A list of every F1 team

This FIA interactive lists all 11 Formula 1 teams and is organized by team points during each season. Learn who the drivers are for each team and see what their car looks like. Click into the team and get a profile and history. Each driver has a profile page that includes biographical information and the latest news.

The SEC is a powerhouse conference with 16 teams and a rich Southern football tradition

Formed in 1933 after splitting from the Southern Conference, the Southeastern Conference began with 13 schools. It has since grown to 16 members, defining college football with numerous national championships and rabid regional rivalries.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

See how Ebola tore through Guinea, Sierra Leone, and Liberia in 2014-2016.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

See how each of the more than two million known species relates to each other—and to common ancestors—in this zoomable tree of life.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

See the 25 of the best photos of auroras from around the world.

The hormonal disorder PCOS was renamed PMOS in 2026, a move designed to improve care and research by shifting the focus to the hormonal causes of this condition that affects 1 in 8 women.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

American short story writer Flannery O'Connor raised 40 peacocks, which became potent symbols for her fiction's elegant violence

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

Fish populations in the Great Barrier Reef have increased after installing waterproof speakers on the ocean floor that played recordings of sounds from healthy coral reefs.

One of the most famous portraits ever taken is 'Afghan Girl' (1984) by Steve McCurry, yet the subject Sharbat Gula went much of her life without being identified or benefitting from the image's success.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

Children are now three times more likely to say they want to be a YouTuber when they grow up than an astronaut, with some even attending 'YouTube camps' that teach kids how to create content for the platform.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.

After her fellow cult members tried to kill her with an LSD-infused hamburger, one member of the Manson Family, the murderous cult led by Charles Manson, decided to testify against the group's leader.

Hear 50 years of iconic hip-hop samples, the genre's foundational looped tracks