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May 24, 2024 · After that development, OPEC+ reduced oil production by 10 million barrels a day, which is equivalent to about 10% of global production, to try to bolster prices.
May 24, 2024 · 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.
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% of global production, to try to bolster prices.
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...
Updated September 2024. Over the past year (WTI), oil prices have mostly stayed in the range of $70-$85 because OPEC+ has kept a significant amount of its production capacity inactive to support the oil price.
Apr 11, 2024 · With Brent oil prices breaking above $90 a barrel, there is room for further upside amid tighter markets and heightened geopolitical risks, investment banks say, not ruling out $100 oil this year.
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Jan 24, 2024 · HSBC Global Research has predicted that Brent crude prices will remain range-bound at $75 per barrel to $85 per barrel in the mid-term as with spare production capacity by OPEC+ enough to...
