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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 ...
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 · 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 ...
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 ...
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 ...
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 ...
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Apr 4, 2023 · 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.
