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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 · Key reasons explained. LONDON, April 3 (Reuters) - 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 ...

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     Why did OPEC cut oil production? Key reasons explained

     Apr 3, 2023

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     World Business Watch: OPEC+ to cut oil production by 2 million barrels per day to shore up prices

     Oct 6, 2022

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     6:01

     bloomberg.com

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

     Oct 2, 2022

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

   www.reuters.com › business › energy

   1 day ago · It may push back output increases again when it meets on Dec. 1 due to weak global oil demand, according to three OPEC+ sources familiar with the discussions. Ministers last shelved the increase ...

5. www.afr.com › companies › energyOPEC+ oil production cut: Why the cartel is cutting output now

   www.afr.com › companies › energy

   Apr 4, 2023 · David Sheppard. Apr 4, 2023 – 9.32am. The OPEC+ group has shocked oil markets by announcing a surprise production cut of more than 1 million barrels a day, boosting the oil price and raising ...

6. www.aljazeera.com › news › 2022/10/6Why is OPEC+ cutting oil production and what’s next?

   www.aljazeera.com › news › 2022/10/6

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   Oct 6, 2022 · 6 Oct 2022. Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC+ group of nations announced its largest supply cut since 2020. The move comes ahead of ...

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

   www.reuters.com › business › energy

   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. A surprise ...

8. People also ask

   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/

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   What will OPEC+'s new cuts mean for oil prices?

   • The International Energy Agency forecast an implied deficit of between 1 million and 1.5 million barrels a day in the second half of this year before OPEC+’s new cuts. A higher oil price could make it more challenging for central banks to rein in inflation, forcing them to lift interest rates further or keep them higher for longer.

   Why OPEC+ is (really) cutting oil output now - Financial Review

   www.afr.com/companies/energy/why-opec-is-really-cutting-oil-output-now-20230404-p5cxvd

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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.

   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/

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   Why did OPEC cut a million barrels a day?

   • The attempt to prop up crude prices highlights the growing tensions between Saudi Arabia and the United States. The OPEC+ group has shocked oil markets by announcing a surprise production cut of more than 1 million barrels a day, boosting the oil price and raising tensions with Western allies.

   Why OPEC+ is (really) cutting oil output now - Financial Review

   www.afr.com/companies/energy/why-opec-is-really-cutting-oil-output-now-20230404-p5cxvd

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   Will OPEC+ be able to increase oil output in December?

   • Our Standards: The Thomson Reuters Trust Principles. OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more, sources and analysts said.

   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/

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   Will OPEC+ roll back production cuts in 2024 & 2025?

   • OPEC+ had planned to slowly roll back production cuts with small increases over many months in 2024 and 2025. But a slowdown in Chinese and global demand, and rising output outside the group, have put a dampener on that plan. This has left OPEC+ maintaining output cuts for longer than it had thought.

   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/

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9. www.ft.com › content › 9ff534c5-3b99-40d0-84f2-19bOpec+ unleashes shockwaves with big cut to oil production

   www.ft.com › content › 9ff534c5-3b99-40d0-84f2-19b

   Oct 6, 2022 · The price of Brent crude oil reached $93.96 a barrel after Opec+ announced its cut, up from $84 a barrel last week. Jorge León, a former Opec analyst who is now at consultancy Rystad, expects oil ...