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

   globalnews.ca › news › 10522634

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   May 24, 2024 · The OPEC+ group is currently cutting output by 5.86 million bpd, equal to about 5.7 per cent of global demand. The cuts include 3.66 million bpd by OPEC+ members to the end of 2024. A...

   • OPEC+ will slash oil production next month. Will Canadian gas ...

     Canadians wanting cheaper gas prices will see less oil on...

   • Gas prices in Canada could rise further as OPEC+ sharply cuts ...

     How OPEC's move could impact Canadian gas prices. Gasoline...

2. www.reuters.com › business › energyWhat is OPEC+ and how does it impact oil prices? | Reuters

   www.reuters.com › business › energy

   May 31, 2023 · Oil prices on Nov. 16 slumped by about 5% to a four-month low amid economic growth concerns. They have since recovered some ground on expectations that OPEC+ will take action to shore up...

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4. ca.finance.yahoo.com › news › analysis-opec-mayAnalysis-OPEC+ may stick with deep oil cuts for longer due to ...

   ca.finance.yahoo.com › news › analysis-opec-may

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   1 day ago · This has left OPEC+ maintaining output cuts for longer than it had thought. The group has cut output by 5.86 million barrels per day, or about 5.7% of global demand, in a series of steps agreed since 2022 to support the market. Despite OPEC+'s cuts and delays to output hikes, oil prices have mostly stayed in the $70-$80 per barrel range this year.

5. energynow.ca › 2023 › 06What is OPEC+ and How Does it Impact Oil Prices?

   energynow.ca › 2023 › 06

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   Jun 1, 2023 · On April 2, OPEC+ agreed to deepen crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand, until the end of 2023, which helped to push up oil prices by about $9 a barrel to above $87 per barrel over the following days, but Brent prices have since lost those gains.

6. globalnews.ca › news › 9227198OPEC+ will slash oil production next month. Will Canadian gas ...

   globalnews.ca › news › 9227198

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   Oct 26, 2022 · Canadians wanting cheaper gas prices will see less oil on the marketplace next month thanks to a significant production cut by an alliance of oil-exporting nations.

   • Author: Aaron D'andrea

7. www.bbc.com › news › business-61188579Opec: What is it and what is happening to oil prices? - BBC

   www.bbc.com › news › business-61188579

   Jun 5, 2023 · Opec+ had to boost prices by cutting production dramatically - by more than nine million barrels per day. Following Russia's invasion of Ukraine, the price of Brent...

8. People also ask

   How has OPEC+ impacted oil prices?

   • This has left OPEC+ maintaining output cuts for longer than it had thought. The group has cut output by 5.86 million barrels per day, or about 5.7% of global demand, in a series of steps agreed since 2022 to support the market. Despite OPEC+'s cuts and delays to output hikes, oil prices have mostly stayed in the $70-$80 per barrel range this year.

   Analysis-OPEC+ may stick with deep oil cuts for longer due to weak de…

   ca.finance.yahoo.com/news/analysis-opec-may-stick-deep-154907105.html

   See all results for this question

   How will OPEC+ affect Canadian gas prices?

   • Canadians wanting cheaper gas prices will see less oil on the marketplace next month thanks to a significant production cut by an alliance of oil-exporting nations. In November, OPEC+ will slash its global output by two million barrels per day at a time when international inventories of crude oil remain tight.

   OPEC+ will slash oil production next month. Will Canadian gas prices

   globalnews.ca/news/9227198/opec-oil-production-cuts-canadian-gas-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/

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   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?

   • WATCH: OPEC+ sharply cuts oil production, U.S. disappointed by "shortsighted decision" – Oct 5, 2022 Canadians wanting cheaper gas prices will see less oil on the marketplace next month thanks to a significant production cut by an alliance of oil-exporting nations.

   OPEC+ will slash oil production next month. Will Canadian gas prices

   globalnews.ca/news/9227198/opec-oil-production-cuts-canadian-gas-prices/

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   Will OPEC cuts affect gasoline prices?

   • The impact of the production cut on oil prices – and thus the price of gasoline made from crude – will be limited somewhat because OPEC+ members already can’t meet their quotas. Still, the move could result in higher pump prices for North American drivers.

   Gas prices in Canada could rise further as OPEC+ sharply cuts oil

   globalnews.ca/news/9177617/opec-meeting-oil-prices-production/

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9. globalnews.ca › opec-meeting-oil-prices-productionGas prices in Canada could rise further as OPEC+ sharply cuts ...

   globalnews.ca › opec-meeting-oil-prices-production

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   Oct 5, 2022 · How OPEC's move could impact Canadian gas prices. Gasoline prices in Canada continue to creep higher ahead of the Thanksgiving long weekend – and further impact may be felt as a...