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1. oilprice.com › Energy › Oil-PricesOil Market News: Oil Prices Jump as OPEC+ Delays Output Hike

   oilprice.com › Energy › Oil-Prices

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   Nov 4, 2024 · Canadian oil companies saw their stock prices rise today, following OPEC's decision to delay planned production increases. This move by OPEC+ has tightened global oil supply, driving up crude ...

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

   www.reuters.com › markets › commodities

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

3. www.cbc.ca › news › canadaUncertainty rattles global crude prices, puts spotlight on ...

   www.cbc.ca › news › canada

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   Sep 11, 2024 · At the end of August, the province's first-quarter fiscal update showed the Alberta government expects the average WTI price of oil to be $76.50 US, up $2.50 US a barrel than what was originally ...

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

   globalnews.ca › news › 10522634

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   May 24, 2024 · In 2020, during COVID-19 lockdowns around the world, crude oil prices slumped. After that development, OPEC+ reduced oil production by 10 million barrels a day, which is equivalent to about 10 per ...

5. calgary.ctvnews.ca › opec-decision-could-affectOPEC+ decision could further impact pump prices | CTV News

   calgary.ctvnews.ca › opec-decision-could-affect

   Oct 6, 2022 · Leaders gathered for an OPEC+ summit in Vienna decided Wednesday to slash global oil production by two million barrels per day in order to boost sagging oil prices. It amounts to about a two per ...

6. www.theglobeandmail.com › business › industry-newsOil prices edge higher ahead of OPEC+ meeting

   www.theglobeandmail.com › business › industry-news

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   1 day ago · Oil prices climbed nearly 1 per cent on Tuesday, as traders awaited the outcome of an OPEC+ meeting later this week. Brent crude futures rose 66 cents, or 0.92 per cent, to $72.49 a barrel by 0909 ...

7. People also ask

   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 does OPEC's decision affect the Canadian oil sector?

   • As such, when prices rise, their profitability improves more dramatically compared to larger, more established companies. Overall, today's market activity reflects the positive impact of OPEC's decision on the Canadian oil sector.

   Oil Market News: Oil Prices Jump as OPEC+ Delays Output Hike

   oilprice.com/Energy/Oil-Prices/Oil-Market-News-Oil-Prices-Jump-as-OPEC-Delays-Output-Hike.html

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   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 Canadian oil prices rise today?

   • Canadian oil companies saw their stock prices rise today, following OPEC's decision to delay planned production increases. This move by OPEC+ has tightened global oil supply, driving up crude prices and benefiting oil producers worldwide, including those in Canada.

   Oil Market News: Oil Prices Jump as OPEC+ Delays Output Hike

   oilprice.com/Energy/Oil-Prices/Oil-Market-News-Oil-Prices-Jump-as-OPEC-Delays-Output-Hike.html

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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'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

8. www.cbc.ca › news › canadaOil prices continue slide as OPEC+ boosts supply despite ...

   www.cbc.ca › news › canada

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   Jun 4, 2024 · U.S. West Texas Intermediate crude futures — the North American benchmark — finished down 97 cents US, at $73.25 US. On Monday, WTI had fallen by 3.6 per cent to settle near a four-month low.