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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 · Why now? The simple answer is Opec+, including its largest members Saudi Arabia and Russia, clearly wants to prop up the oil price, or — ideally — push it higher. Last month Brent crude, 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 ...

3. www.afr.com › companies › energyWhy OPEC+ is (really) cutting oil output now - Financial Review

   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 ...

4. 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 ...

5. www.todayonline.com › world › explainer-why-opecExplainer-Why is OPEC+ cutting oil output? - TODAY

   www.todayonline.com › world › explainer-why-opec

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   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.

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. 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

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   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 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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   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/

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   Does OPEC want to prop up the oil price?

   • The simple answer is that the Organisation of the Petroleum Exporting Countries (OPEC), including its largest members Saudi Arabia and Russia, clearly wants to prop up the oil price, or – ideally – push it higher.

   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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   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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8. 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 ...