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- The OPEC+ member states cut production starting in November after gathering for their first face-to-face meeting at their Vienna headquarters since the start of the COVID-19 pandemic. The group said the decision was based on the “uncertainty that surrounds the global economy and oil market outlooks”.
www.aljazeera.com/news/2022/10/6/why-is-opec-cutting-global-oil-production
Apr 3, 2023 · OPEC and its allies, including Russia, agreed on Sunday to widen crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand.
- Explainer: Why is OPEC+ cutting oil output? | Reuters
Here are the main reasons why OPEC+ cut output: CONCERNS...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
This has left OPEC+ maintaining output cuts for longer than...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
Jun 5, 2023 · Here are the main reasons why OPEC+ cut output: CONCERNS ABOUT WEAK GLOBAL DEMAND. Data from China has aroused fears that the economic recovery after coronavirus lockdowns by world's...
1 day ago · This has left OPEC+ maintaining output cuts for longer than it had thought. The group has cut output by 5.86 million barrels per day, or about 5.7% of global demand, in a series of steps agreed ...
Jun 5, 2023 · Why is Opec+ cutting oil output? Saudi Arabia's voluntary cut of one million barrels a day comes into effect in July. It follows a cut of 1.16 million barrels a day in April, which was...
Jun 5, 2023 · Here are the main reasons why OPEC+ cut output: Concerns about weak global demand Data from China has aroused fears that the economic recovery after coronavirus lockdowns by world's second-largest oil consumer is losing steam.
Oct 6, 2022 · The OPEC+ member states cut production starting in November after gathering for their first face-to-face meeting at their Vienna headquarters since the start of the COVID-19 pandemic. The...
Jun 5, 2023 · Saudi Arabia, the group's biggest producer, will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group faces flagging oil prices.
