Yahoo Canada Web Search

Search results

1. • • OPEC+ has been curbing output to support prices. But as many members rely on oil export revenues, they have an incentive to push for the highest production quota they can.
     Reference:

     Explainer: Why does OPEC+ often clash over oil production ...

2. www.reuters.com › business › energyOPEC+ may stick with deep oil cuts for longer due to weak ...

   www.reuters.com › business › energy

   20 hours 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 ...

   • Why did OPEC cut oil production? Key reasons explained

     Here are the main reasons why OPEC+ is cutting output:...

   • Explainer: Why is OPEC+ cutting oil output? | Reuters

     Here are the main reasons why OPEC+ cut output: CONCERNS...

3. www.reuters.com › business › energyWhy did OPEC cut oil production? Key reasons explained

   www.reuters.com › business › energy

   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 million...

4. Videos

   • 

     7:25

     youtube.com

     OPEC+ Cuts Oil Output | Will Oil Prices Surge? How Could It Affect The Countries? | UPSC 2023

     Apr 3, 2023

     7.1K Views

   • 

     1:36

     reuters.com

     Why did OPEC cut oil production? Key reasons explained

     Apr 3, 2023

   • 

     0:55

     youtube.com

     Why is OPEC+ cutting oil production and what’s next? #shorts

     Apr 20, 2023

     424 Views

   View all

5. www.ft.com › content › c95db701-5d1d-4020-a897-9bWhy Opec+ is cutting oil output now - Financial Times

   www.ft.com › content › c95db701-5d1d-4020-a897-9b

   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.

6. economictimes.indiatimes.com › news › how-toExplained: Why is OPEC+ cutting oil output? - The Economic Times

   economictimes.indiatimes.com › news › how-to

   • Cached

   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 ...

7. www.reuters.com › business › energyExplainer: Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com › business › energy

   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...

8. 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 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. Why is Opec+...

9. People also ask

   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 voluntarily undertaken by eight members of Opec+, and a group-wide cut of two million barrels a day in October 2022.

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

   www.bbc.com/news/business-61188579

   See all results for this question

   How has OPEC+ impacted oil prices?

   • 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 since 2022 to support the market. Despite OPEC+'s cuts and delays to output hikes, oil prices have mostly stayed in the $70-$80 per barrel range this year.

   OPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com/business/energy/opec-may-stick-with-deep-oil-cuts-longer-due-weak-demand-2024-11-20/

   See all results for this question

   Why did OPEC+ cut output?

   • The changes, however, included lowered targets for Russia, Nigeria and Angola simply to bring them into line with current production levels. Here are the main reasons why OPEC+ cut output: Data from China has aroused fears that the economic recovery after coronavirus lockdowns by world's second-largest oil consumer is losing steam.

   Explainer: Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-06-05/

   See all results for this question

   Did OPEC+ agree on a new oil output deal?

   • REUTERS/Leonhard Foeger/File Photo Purchase Licensing Rights LONDON, June 5 (Reuters) - 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.

   Explainer: Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-06-05/

   See all results for this question

   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

   See all results for this question

   Will OPEC+ cuts drive tensions with consuming countries?

   • Russia, the world’s third-biggest oil producer, is targeting production of around 9.5 million bpd until the end of the year and 9.3 million bpd next year. Additional cuts from OPEC+ could drive tensions with leading consuming nations that are trying to fight inflation. Washington called OPEC+’s action in April inadvisable.

   Why is OPEC+ cutting oil output? | The Indian Express

   indianexpress.com/article/explained/explained-economics/why-is-opec-cutting-oil-output-8647070/

   See all results for this question

10. indianexpress.com › article › explainedWhy is OPEC+ cutting oil output? | Explained News - The ...

    indianexpress.com › article › explained

    • Cached

    Jun 6, 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.