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- 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 crude soared to more than $130 a barrel. However, by March 2023 it had fallen back to little above $70 a barrel - a 15-month low.
www.bbc.co.uk/news/business-61188579
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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 prices.
May 24, 2024 · Despite deep production cuts Brent crude prices are trading near their lowest this year at $81 a barrel, down from a peak of $91 in April, pressured by elevated stocks and concerns over global...
Sep 2, 2024 · For the first seven months of the year, crude imports were 10.90 million bpd, down 2.9% from the 11.22 million bpd over the same period in 2023.
Jun 2, 2022 · LONDON - The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy...
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 crude soared to more than $130...
Apr 3, 2023 · OPEC+, including Saudi Arabia and Russia, is cutting oil production by over a million barrels a day. It’s not great for gas prices and inflation, but it’s not a disaster either.
Sep 1, 2022 · At its August 2022 ministerial meeting, the Organization of the Petroleum Exporting Countries (OPEC) and 10 additional oil exporters (together known as OPEC+) announced an increase of only 100,000 barrels per day (b/d) of crude supply for September.
