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

   www.reuters.com › markets › commodities

   May 24, 2024 · 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. The OPEC+ group is ...

2. www.forbes.com › why-opecs-decisions-impact-the-usWhy OPEC’s Decisions Impact The U.S. - Forbes

   www.forbes.com › why-opecs-decisions-impact-the-us

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   Sep 6, 2024 · The recent decision by OPEC+ to halt plans for increasing oil output underscores the group's ability to shape supply and stabilize prices. As long as OPEC controls nearly half of the world’s oil ...

3. Videos

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     abcnews.go.com

     How will OPEC+ oil cut impact US gas prices? Experts weigh in

     Apr 3, 2023

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     youtube.com

     OPEC's oil surprise: how the latest production cuts will impact Americans

     Apr 8, 2023

     4.8K Views

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     youtube.com

     Oil prices surge following OPEC+ production cuts

     Apr 3, 2023

     3.7K Views

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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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   4 days ago · The chart clearly shows how OPEC+ production increases and cuts directly correlate with price movements. There have been concerns that this level of market control could be challenged, but historically, OPEC’s ability to influence the price of oil through quota management has remained robust. 2. Market psychology and announcements

5. money.usnews.com › investing › newsAnalysis-OPEC+ May Stick With Deep Oil Cuts for Longer Due to ...

   money.usnews.com › investing › news

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   2 days ago · The 2014 price war had a big impact on shale producers but ultimately failed to stem the boom. U.S. shale and other producers have also cut costs over time, making it harder for OPEC+ to win a new ...

6. money.usnews.com › investing › newsFactbox-What Is OPEC+ and How Does It Impact Oil Prices?

   money.usnews.com › investing › news

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   Nov 20, 2023 · Oil prices jumped, causing high fuel costs for consumers and fuel shortages in the United States. The embargo also brought the United States and other countries to the brink of a global recession ...

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 · It is thought that Saudi Arabia, which is currently chairing Opec+, needs to have the price of Brent crude rising to $80 (£65) a barrel or more to cover its government spending and import bill ...

8. People also ask

   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/

   See all results for this question

   How does OPEC affect the US?

   • The US, despite being the world's top oil producer, is still significantly impacted by OPEC's decisions due to the group's control over nearly half of global oil production and the majority of proven reserves. OPEC's long-term strategy aims to outlast the US shale oil boom and regain a dominant market position.

   Does OPEC Still Hold Sway Over U.S. Oil Markets?

   oilprice.com/Energy/Crude-Oil/Does-OPEC-Still-Hold-Sway-Over-US-Oil-Markets.html

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   Why is OPEC releasing more oil?

   • Gasoline prices are an important political subject in the United States, where a presidential election takes place this year, and have prompted Washington to make repeated calls on 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? | Reuters

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

   See all results for this question

   How does OPEC's pause affect oil prices?

   • OPEC's recent decision to pause production increases has stabilized oil prices, demonstrating the group's ongoing influence on global markets.

   Does OPEC Still Hold Sway Over U.S. Oil Markets?

   oilprice.com/Energy/Crude-Oil/Does-OPEC-Still-Hold-Sway-Over-US-Oil-Markets.html

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   How did the 2014 shale price war affect OPEC+?

   • The 2014 price war had a big impact on shale producers but ultimately failed to stem the boom. U.S. shale and other producers have also cut costs over time, making it harder for OPEC+ to win a new battle. The cost of producing oil onshore in the Middle East has an average breakeven price of $27 a barrel, according to consultant Rystad Energy.

   Analysis-OPEC+ May Stick With Deep Oil Cuts for Longer Due to Weak …

   money.usnews.com/investing/news/articles/2024-11-20/analysis-opec-may-stick-with-deep-oil-cuts-for-longer-due-to-weak-demand

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   When was the last time OPEC raised oil output?

   • The last time OPEC did this was in 2014-2015, when it raised output to squeeze U.S. shale firms. 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 figures.

   Analysis-OPEC+ May Stick With Deep Oil Cuts for Longer Due to Weak …

   money.usnews.com/investing/news/articles/2024-11-20/analysis-opec-may-stick-with-deep-oil-cuts-for-longer-due-to-weak-demand

   See all results for this question

9. oilprice.com › Energy › Crude-OilDoes OPEC Still Hold Sway Over U.S. Oil Markets?

   oilprice.com › Energy › Crude-Oil

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   Sep 13, 2024 · It’s true that the U.S. is the world’s top oil producer. According to the Statistical Review of World Energy, in 2023 the U.S. produced 15.6% of the world’s oil. But, Russia and Saudi Arabia ...