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Apr 3, 2023 · The Opec+ group has shocked oil markets by announcing a surprise production cut of more than 1mn barrels a day, boosting the oil price and raising tensions with western allies.
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.
Apr 3, 2023 · Here are the main reasons why OPEC+ is cutting output: CONCERNS ABOUT WEAK GLOBAL DEMAND. Saudi Arabia has said voluntary output cuts of 1.66 million bpd on top of the existing 2...
May 28, 2024 · LONDON, May 28 (Reuters) - OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation's...
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. 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 ...
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.
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What will OPEC+ cut mean for Russia?
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...
