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Apr 3, 2023 · SEEKING HIGHER PRICES. Many analysts said OPEC+ was keen to put a floor under oil prices at $80 per barrel while UBS and Rystad predicted a jump back to $100. However, excessively high...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
The IEA's predictions of price strength never materialised,...
- 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 · The IEA's predictions of price strength never materialised, prompting OPEC+ sources to say it was politically driven and designed to help boost U.S. President Joe Biden'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 ...
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. But...
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. 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 ...
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...
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May 30, 2023 · Here are the main reasons why OPEC+ cut output: CONCERNS ABOUT WEAK GLOBAL DEMAND. Saudi Arabia has said voluntary output cuts of 1.66 million bpd on top of the existing 2 million bpd...
