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May 24, 2024 · OPEC was founded in 1960 in Baghdad by Iraq, Iran, Kuwait, Saudi Arabia and Venezuela with an aim of coordinating petroleum policies and securing fair and stable prices. Now it includes 12...
Jun 5, 2023 · 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...
May 28, 2024 · LONDON, May 28 (Reuters) - OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each...
Jul 1, 2021 · Saudi Arabia and Russia are working towards a deal to cautiously release more barrels into the oil market, with prices having climbed to the highest level in almost three years, but officials...
- Anjli Raval
May 24, 2024 · OPEC estimates that its member countries hold about 80% of the world's proven oil reserves. Because of its large market share, the decisions OPEC makes can affect global oil...
Nov 2, 2024 · If OPEC+ output increases as planned, oil prices could drop as low as $40 a barrel by March, S&P Global analyst says
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May 30, 2023 · OPEC+ has criticised the International Energy Agency, the West's energy watchdog in which the United States is the biggest financial donor, for releasing oil stocks last year, which it said was...
