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Apr 3, 2023 · Here are the main reasons why OPEC+ is cutting output: ... watchdog in which the United States is the biggest financial donor, for releasing oil stocks last year, a move it said was necessary to ...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
The Organization of the Petroleum Exporting Countries and...
- Why is OPEC+ cutting oil output? | Reuters
Here are the main reasons why OPEC+ cut output: ... assets...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
Jun 5, 2023 · It follows a cut of 1.16 million barrels a day in April, which was voluntarily undertaken by eight members of Opec+, and a group-wide cut of two million barrels a day in October 2022.
Jun 5, 2023 · The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
May 30, 2023 · Here are the main reasons why OPEC+ cut output: ... assets such as commodities with oil prices falling to near $75 per barrel from a peak of $139 in March 2022. ... The United States is ...
- What Has OPEC Decided and Why?
- What Comes Next?
- How Has The World Reacted?
The Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, on Wednesday agreed to slash output by two million barrels per day (bpd)just ahead of the peak winter season. The OPEC+ member states cut production starting in November after gathering for their first face-to-face meeting at their Vienna headquarters s...
Swissquote analyst Ipek Ozkardeskaya warned the big cut could “backfire” on OPEC+ if investors fear it will push inflation higher and force central banks to hike interest rates so much that it triggers a recession. “The higher the energy prices, the sharper the central banks must kill demand to pull the prices lower,” she said before the decision w...
That move triggered a sharp response from Washington, which criticised the OPEC+ deal as shortsighted. The White House said US President Joe Biden would continue to assess whether to release further strategic oil stocks to lower prices. “Saudi, UAE (the United Arab Emirates) and Kuwait are likely to take up most of the burden of cuts,” Tilak Doshi,...
Apr 3, 2023 · Why Opec+ is cutting oil output now on ... for the end of the year from $90 a barrel to $95 a barrel. Opec+ may hope for higher prices still. ... the cut would add “support of around $10 per ...
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Apr 4, 2023 · Explainer; Companies; Energy; Oil; Why OPEC+ is (really) cutting oil output now. The attempt to prop up crude prices highlights the growing tensions between Saudi Arabia and the United States.
