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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...
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 further...
May 31, 2023 · In 2021, OPEC estimated that its member countries accounted for more than 80% of the world's proven oil reserves. Because of the large market share, the decisions OPEC makes can affect...
The upward trend in oil prices in 2017 and 2018 was caused by different variables, among them socioeconomic and political factors such as the ongoing demise of the States of Venezuela and US...
Sep 1, 2023 · Using a counterfactual analysis based on two complementary structural vector autoregression (SVAR) models, we find that the impact of OPEC+ on the price of oil was small, owing to significant deviations of oil producers from their assigned quotas.
Mar 13, 2021 · OPEC’s utilisation of spare capacity has significantly dampened price movements, and therefore reduced oil price volatility, from September 2001 to October 2014 and from January 2017 to June 2020 (the OPEC+ period included in our study).
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1 day ago · OPEC+'s oil output is equal to 48% of world supply, the lowest since it was formed in 2016 with a market share of over 55%, according to Reuters calculations based on International Energy Agency ...
