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   • 

     8:54

     msn.com

     Global Oil Prices Decline: OPEC Cuts Oil Demand Forecast, Soft Chinses Demand Weighs In| Business @9

     Oct 14, 2024

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     3:56

     youtube.com

     What is OPEC? | CNBC Explains

     Jun 20, 2018

     302.3K Views

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     5:48

     youtube.com

     Market Insight: OPEC ‘very likely’ to cut oil demand forecast | REUTERS

     Sep 9, 2024

     2.3K Views

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2. www.youtube.com › watchOil Prices Hold onto Gains on OPEC+ Policy Tweak - YouTube

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   Nov 5, 2024 · Oil prices hold onto gains on OPEC+ policy tweak | EBC Markets Briefing In this video, we discuss the recent movement in oil prices and how a key policy tweak from OPEC+ is affecting the...

   • Video Duration: 2 min
   • Views: 16

   • Author: EBC Financial Group

3. www.youtube.com › watchHow does OPEC Control crude oil prices? - YouTube

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   OPEC members and its allies are collectively known as OPEC+, deciding on how much oil to produce. The amount of agreed oil directly impacts the ready supply of crude oil into the international...

   • Video Duration: 7 min
   • Views: 4.1K

   • Author: Kalkine Media

4. permutable.ai › ways-opec-influences-the-price-of-oil5 ways OPEC influences the price of oil: Market analysis from ...

   permutable.ai › ways-opec-influences-the-price-of-oil

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   3 days ago · The idea is to understand that oil markets are highly responsive to signals, and this is one of the primary ways OPEC influences the price of oil. Today, it’s evident from the trading data that OPEC demand forecasts and supply prospects can trigger substantial price movements even before actual production changes occur. 3. Strategic supply ...

5. www.youtube.com › watchThe Truth About OPEC: How It Shapes Oil Prices and ... - YouTube

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   In this video, we delve into the secrets and inner workings of OPEC, the organization that controls a significant portion of the world's oil supply. We explo...

   • Video Duration: 22 min
   • Views: 186

   • Author: Curio51ty

6. www.reuters.com › markets › commoditiesWhat is OPEC+ and how does it affect oil prices? | Reuters

   www.reuters.com › markets › commodities

   May 24, 2024 · HOW DOES OPEC INFLUENCE GLOBAL OIL PRICES? OPEC says its member states' exports account for about 49% of global crude exports. OPEC estimates that its member countries hold about 80% of the...

7. globalnews.ca › news › 10522634What is OPEC and how does it affect oil prices?

   globalnews.ca › news › 10522634

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   May 24, 2024 · OPEC was founded in 1960 in Baghdad by Iraq, Iran, Kuwait, Saudi Arabia and Venezuela with an aim of coordinating petroleum policies and securing fair and stable prices. Now it includes 12...

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/

   See all results for this question

   How does OPEC affect global oil prices?

   • OPEC estimates that its member countries hold about 80% of the world's proven oil reserves. 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.

   What is OPEC+ and how does it affect oil prices? | Reuters

   www.reuters.com/markets/commodities/what-is-opec-how-does-it-affect-oil-prices-2024-05-24/

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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

   How much oil does OPEC produce a day?

   • OPEC+ crude output represents about 41% of global oil production. The group's main objective is to regulate the supply of oil to the global market. The leaders are Saudi Arabia and Russia, which produce and 9 million and 9.3 million barrels per day (bpd) of oil respectively.

   What is OPEC+ and how does it affect oil prices? | Reuters

   www.reuters.com/markets/commodities/what-is-opec-how-does-it-affect-oil-prices-2024-05-24/

   See all results for this question

   Does OPEC regulate oil prices?

   • 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? | Reuters

   www.reuters.com/markets/commodities/what-is-opec-how-does-it-affect-oil-prices-2024-05-24/

   See all results for this question

   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/

   See all results for this question

9. 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 cost of producing oil onshore in the Middle East has an average breakeven price of $27 a barrel, according to consultant Rystad Energy. Rystad puts North American costs at $45, down from $85 ...