The cartel stuck to its oil-demand forecast after reaffirming plans to gradually hike output from April, but said Trump’s ...

It is a wave of the white flag by OPEC, and likely a strategy shift that will last for years. And it's hard to see anything but upside from this move for America's shale oil industry.

In 1960, frustrated by Western control over the world’s oil industry, five of the world’s top oil-producing nations created the Organization of the Petroleum Exporting Countries, or OPEC.

OPEC, or the Organization of the Petroleum Exporting Countries, serves as an organizing body of the world's largest producers of oil. Its purpose, per its website, is to "coordinate and unify the ...