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- Reuters summarizes the key reasons that possibly explain the recent OPEC+ oil production cuts: 1) concerns about the global demand amid the "Western banking crisis", 2) punishing the speculators who sell short crude oil futures, 3) the need for higher oil prices due to the domestic economic needs, and 4) the Biden's administration refusal to refill the strategic reserves.
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...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
Here are the main reasons why OPEC+ cut output: CONCERNS...
- 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...
Jun 5, 2023 · Other members of the oil producers' group Opec+ agreed to keep their output levels unchanged, having made cuts of more than one million barrels a day last April.
Jun 30, 2023 · 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.
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...
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 why has...
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...
