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1. 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 hope may be that funds re-enter the market now Opec+ has demonstrated its willingness to act. “The announced cut would further tighten an already fundamentally tight oil market, driving the ...

2. 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: ... JP Morgan and Goldman Sachs said the U.S. decision not to buy back oil for reserves might have contributed to the move to cut output.

3. Videos

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     Why did OPEC cut oil production? Key reasons explained

     Apr 3, 2023

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     OPEC's oil surprise: how the latest production cuts will impact Americans

     Apr 8, 2023

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     OPEC+ to Consider Output Cut of More Than 1 Million Barrels

     Oct 2, 2022

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

   www.reuters.com › business › energy

   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.

5. money.usnews.com › investing › newsAnalysis-OPEC+ May Stick With Deep Oil Cuts for Longer Due to ...

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   1 day ago · 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. ... OPEC+'s oil output is equal to 48% of ...

6. 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 · In 2020, the price of crude oil crashed because of a lack of buyers, as countries went into lockdown. Opec+ had to boost prices by cutting production dramatically - by more than nine million ...

7. seekingalpha.com › article › 4594104-why-did-opecWhy Did OPEC Cut Oil Production And How Does This Impact ...

   seekingalpha.com › article › 4594104-why-did-opec

   Apr 14, 2023 · The OPEC+ is well aware of this, and thus, the recent oil production cut is only a short-term solution - to keep the oil price high for as long as possible, hoping for a soft landing. But the Fed ...

8. People also ask

   Will OPEC+ cut cause a rise in oil prices?

   • 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. Oil analysts do not expect the most recent cut to cause a big rise in world crude prices. What is Opec+?

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

   www.bbc.com/news/business-61188579

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   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

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   Will OPEC+ cut production?

   • Deepening production cuts is also unlikely because several OPEC+ members are pushing to pump more, not less. Key among them is the United Arab Emirates, which argues it has kept output at around 3 million bpd for too long, far below its capacity.

   Analysis-OPEC+ May Stick With Deep Oil Cuts for Longer Due to Weak …

   money.usnews.com/investing/news/articles/2024-11-20/analysis-opec-may-stick-with-deep-oil-cuts-for-longer-due-to-weak-demand

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   What if OPEC+ production cut causes oil to rally?

   • If an unexpected OPEC+ production cut causes oil to rally, they face a loss. Analysts at Standard Chartered bank said in a report last week that short speculative positions in crude oil earlier this month were as bearish as they were at the start of the pandemic in 2020 - when oil demand and prices collapsed.

   Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-05-30/

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   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/

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   What is OPEC+'s output policy?

   • LONDON, May 30 (Reuters) - OPEC and its allies, including Russia, meet in Vienna on June 4 to decide on their output policy. The group, known as OPEC+, agreed on April 2 to increase crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand, after several members pledged unilateral cuts.

   Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-05-30/

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9. www.reuters.com › business › energyWhy is OPEC+ cutting oil output? | Reuters

   www.reuters.com › business › energy

   May 30, 2023 · The group, known as OPEC+, agreed on April 2 to increase crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand, after several members pledged unilateral cuts.