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- Analysts at Macquarie said the prospects for OPEC+ increasing output in the first half of 2025 looked tenuous given seasonal demand weakness. Deepening production cuts is also unlikely because several OPEC+ members are pushing to pump more, not less.
21 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
OPEC and its allies, including Russia, agreed on Sunday to...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
Here are the main reasons why OPEC+ cut output: CONCERNS...
- Why did OPEC cut oil production? Key reasons explained
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.
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.
Jun 5, 2023 · Opec+ had to boost prices by cutting production dramatically - by more than nine million barrels per day. Following Russia's invasion of Ukraine, the price of Brent crude soared to...
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...
Jun 30, 2023 · By Cary Springfield, International Banker. On April 2, a surprise cut to crude-oil production was announced by the OPEC+ group, which includes the 13 members of the Organization of the Petroleum Exporting Countries alongside 10 additional major oil producers, such as Russia and Mexico.
Jul 4, 2023 · Here are the main reasons why OPEC+ output cuts are failing to significantly lift oil prices: CONCERNS ABOUT WEAK DEMAND. Data from China has sparked fears that the economic recovery...
