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1. www.cnn.com › 2022/10/05 › energyOPEC announces the biggest cut to oil production since the ...

   www.cnn.com › 2022/10/05 › energy

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   Oct 5, 2022 · The price of Brent crude oil rose 1.5% to more than $93 a barrel on the news, adding to gains this week ahead of the gathering of oil ministers. US oil was up 1.7% at $88.

2. www.reuters.com › business › energyOPEC+ may stick with deep oil cuts for longer due to weak ...

   www.reuters.com › business › energy

   1 day ago · The Organization of the Petroleum Exporting Countries and its allies led by Russia, the group known as OPEC+, which pumps around half the world's oil, has already delayed a plan to gradually lift ...

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4. www.cnn.com › 2021/11/05 › businessWhite House says OPEC and Russia are putting the global ... - CNN

   www.cnn.com › 2021/11/05 › business

   Nov 5, 2021 · The White House has accused OPEC and its allies of putting the global economic recovery at risk by refusing to pump more oil. That sets up a geopolitical showdown that could spark more price ...

5. www.cnn.com › 2022/10/10 › politicsBiden has a big oil problem. Here’s what you need to ... - CNN

   www.cnn.com › 2022/10/10 › politics

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   Oct 10, 2022 · For one perspective on the OPEC+ decision and to better understand how it affects everyone, we turned to Hossein Askari, who teaches international business at The George Washington University.

6. globalnews.ca › news › 10522634What is OPEC and how does it affect oil prices? - Global News

   globalnews.ca › news › 10522634

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   May 24, 2024 · The members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia will meet on June 2 to discuss their joint oil production policy.

   • Video Duration: 2 min

   • Author: Yousef Saba

7. edition.cnn.com › 2023/04/03 › energyWhat OPEC’s surprise oil cut means for gas prices

   edition.cnn.com › 2023/04/03 › energy

   Apr 4, 2023 · The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news sent both Brent crude ...

8. People also ask

   Will OPEC+ release more oil?

   • OPEC+ to release more oil. OPEC says its job is to regulate supply and demand rather than prices. The group’s members depend heavily on oil revenue, with Saudi Arabia’s budget balancing at an oil price of between $90 and $100 a barrel, according to various estimates.

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

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   Will OPEC cut oil production in May?

   • The group known as OPEC+ announced Sundayit would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news sent both Brent crude futures, the global oil benchmark, and WTI, the US benchmark, up about 6% in trading Monday.

   What OPEC's surprise oil cut means for gas prices | CNN Business

   edition.cnn.com/2023/04/03/energy/gas-prices-opec/index.html

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   Will OPEC's joint oil production policy affect global oil prices?

   • Members of the The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia will meet next week (June 2, 2024) to discuss their joint oil production policy, which could have a impact on global oil prices. Jakub Porzycki/NurPhoto via Getty Images

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

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   Why did OPEC reduce oil production?

   • After that development, OPEC+ reduced oil production by 10 million barrels a day, which is equivalent to about 10 per cent of global production, to try to bolster prices. OPEC+ to release more oil. OPEC says its job is to regulate supply and demand rather than prices.

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

   See all results for this question

   Will OPEC+ lift oil production?

   • The Organization of the Petroleum Exporting Countries and its allies led by Russia, the group known as OPEC+, which pumps around half the world's oil, has already delayed a plan to gradually lift production by several months this year.

   OPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com/business/energy/opec-may-stick-with-deep-oil-cuts-longer-due-weak-demand-2024-11-20/

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   How does OPEC affect global oil prices?

   • Because of its large market share, the decisions OPEC makes can affect global oil prices. Its members meet regularly to decide how much oil to sell on global markets. As a result, when they lower supply in response to falling demand, oil prices tend to rise. Prices tend to fall when the group decides to supply more oil to the market.

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

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9. www.cnn.com › 2022/10/06 › politicsWhite House left looking for answers after OPEC+ ... - CNN

   www.cnn.com › 2022/10/06 › politics

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   Oct 7, 2022 · Hochstein, in his CNN interview, reiterated that the OPEC+ decision was a “huge mistake” and “the wrong thing to do” amid Russia’s ongoing war in Ukraine and high energy prices, saying ...