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     OPEC+ Cuts Oil Output | Will Oil Prices Surge? How Could It Affect The Countries? | UPSC 2023

     Apr 3, 2023

     7.1K Views

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     26:01

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     Will the OPEC+ oil output cut make inflation worse? | Counting the Cost

     Apr 8, 2023

     43.7K Views

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     1:36

     reuters.com

     Why did OPEC cut oil production? Key reasons explained

     Apr 3, 2023

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2. www.youtube.com › watchOil prices slip as OPEC+ agrees on deeper output ... - YouTube

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   Nov 30, 2023 · Crude oil (CL=F, BZ=F) prices dip following reports that OPEC+ member countries have agreed to cut oil production output by 1 million barrels per day in 2024...

   • Video Duration: 4 min
   • Views: 4.7K

   • Author: Yahoo Finance

3. www.youtube.com › watchOil Surges After OPEC+'s Unexpected Crude Production Cut

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   Apr 2, 2023 · Oil is surging after the OPEC+ announced a surprise production cut of more than 1 million barrels a day.

   • Video Duration: 3 min
   • Views: 50K

   • Author: Bloomberg Television

4. www.youtube.com › watchHere's why the OPEC+ output cuts took the industry ... - YouTube

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   Apr 3, 2023 · CNBC's Pippa Stevens explains the voluntary output cuts from OPEC and what they mean for oil and natural gas prices. For access to live and exclusive video f...

   • Video Duration: 2 min
   • Views: 4.4K

   • Author: CNBC Television

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

   www.reuters.com › business › energy

   1 day ago · 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 ...

6. www.ft.com › content › c95db701-5d1d-4020-a897-9bWhy Opec+ is cutting oil output now - Financial Times

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   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.

7. 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 · Saudi Arabia has announced it will be cutting its production of crude oil by a million barrels a day to try to boost prices. Other members of the oil producers' group Opec+ agreed to keep their...

8. 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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   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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   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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   How did OPEC+ boost oil prices?

   • Opec+ had to boost prices by cutting production dramatically - by more than nine million barrels per day. Following Russia's invasion of Ukraine, the price of Brent crude soared to more than $130 a barrel. However, by March 2023 it had fallen back to little above $70 a barrel - a 15-month low.

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

   www.bbc.com/news/business-61188579

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   Why did Saudi Arabia cut crude oil production?

   • Saudi Arabia has announced it will be cutting its production of crude oil by a million barrels a day to try to boost 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.

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

   www.bbc.com/news/business-61188579

   See all results for this question

9. 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: CONCERNS ABOUT WEAK GLOBAL DEMAND. Saudi Arabia has said voluntary output cuts of 1.66 million bpd on top of the existing 2...