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

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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 ...

2. www.ft.com › content › 70853af8-b7a4-4a28-bdfe-b4f3eThe new oil war: Opec moves against the US - Financial Times

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   Oct 7, 2022 · It was the first global oil shock. On Wednesday, the Jewish holy day of Yom Kippur, Saudi Arabia and its oil allies — which now include Russia in the Opec+ group — moved to upend the world’s ...

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     What is OPEC? | CNBC Explains

     Jun 20, 2018

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     What is OPEC? | CNBC International

     Nov 26, 2014

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     Biden considering 'alternatives' after OPEC oil production cuts | USA TODAY

     Oct 6, 2022

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4. money.usnews.com › investing › newsExplainer-OPEC+ Oil Policies: What Cuts Are ... - U.S. News

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   Nov 21, 2023 · US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics ...

5. abcnews.go.com › Politics › white-house-disappointedWhite House 'disappointed' with OPEC+ decision to ... - ABC News

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   Oct 5, 2022 · Representatives of OPEC member countries attend a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting in Vienna, Austria, on ...

6. www.ft.com › content › 5ad12d12-d662-4e5b-88c8-6836What does the US-backed Opec+ deal mean for the world?

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   Apr 13, 2020 · Opec agreed the biggest ever oil output cuts with the backing of Russia, the US and the wider G20 group of nations in an effort to bolster crude prices that the coronavirus outbreak has helped ...

   • Author: Anjli Raval

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

   What does OPEC's oil deal mean for oil prices?

   • Opec agreed the biggest ever oil output cuts with the backing of Russia, the US and the wider G20 group of nations in an effort to bolster crude prices that the coronavirus outbreak has helped push to 18-year lows. The question now is what the agreement means for the future of the energy industry and whether it will help oil prices recover.

   What does the US-backed Opec+ deal mean for the world?

   www.ft.com/content/5ad12d12-d662-4e5b-88c8-6836dd1fb29a

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   Does OPEC still matter?

   • As long as OPEC controls nearly half of the world’s oil production and holds the majority of proven reserves, its decisions will continue to impact oil markets worldwide, including in the U.S. Understanding this dynamic is key to recognizing why OPEC's actions still matter, even in an era of U.S. energy independence.

   Why OPEC’s Decisions Impact The U.S. - Forbes

   www.forbes.com/sites/rrapier/2024/09/06/why-opecs-decisions-impact-the-us/

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   How does OPEC+ work?

   • Together, Opec+ countries produce about 40% of all the world's crude oil. "Opec+ tailors supply and demand to balance the market," says Kate Dourian, of the Energy Institute. "It keeps prices high by lowering supplies when the demand for oil slumps." The organisation can also lower prices by putting more oil into the market.

   Opec: What is it and what is happening to oil prices? - BBC

   www.bbc.com/news/business-61188579

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   How much oil does OPEC produce?

   • Opec nations produce about 30% of the world's crude oil. Saudi Arabia is the biggest single oil supplier within the group, producing more than 10 million barrels a day. In 2016, when oil prices were particularly low, Opec joined forces with 10 other oil producers to create Opec+.

   Opec: What is it and what is happening to oil prices? - BBC

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   Will OPEC+ cut cause a rise in oil prices?

   • Other members of the oil producers' group Opec+ agreed to keep their output levels unchanged, having made cuts of more than one million barrels a day last April. Oil analysts do not expect the most recent cut to cause a big rise in world crude prices. What is Opec+?

   Opec: What is it and what is happening to oil prices? - BBC

   www.bbc.com/news/business-61188579

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   Why did OPEC+ join Russia?

   • The decision by the OPEC+ alliance, which includes Russia, is likely a response tooil prices dropping amid less demand stemming from a global economic slowdown. Oil prices currently hover around approximately $80 per barrel, down from the $100-plus cost it hit during late spring and early summer.

   White House 'disappointed' with OPEC+ decision to cut oil production, …

   abcnews.go.com/Politics/white-house-disappointed-opec-decision-cut-oil-production/story?id=91043856

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9. www.bbc.co.uk › news › business-61188579Opec: What is it and what is happening to oil prices? - BBC News

   www.bbc.co.uk › 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 ...