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Soaring inflation
- 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 European Union embargoes on Russian energy over the Ukraine war.
www.aljazeera.com/news/2022/10/6/why-is-opec-cutting-global-oil-production
Apr 3, 2023 · 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 global demand. The...
Oct 6, 2022 · Deep oil production cuts approved by OPEC+ have sent shockwaves across energy markets, put the cartel on a collision course with Washington and pointed to a strengthening bond between Saudi...
Jun 5, 2023 · Opec was formed in 1960 as a cartel, which aimed to fix the worldwide supply of oil and its price. Opec nations produce about 30% of the world's crude oil. Saudi Arabia is the biggest...
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...
1 day ago · The U.S. has become the world's largest oil producer, pumping more than 20 million bpd or a fifth of global production. Top OPEC producer Saudi Arabia's crude output is less than 9% of the global ...
Oct 6, 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...
Jun 5, 2023 · Opec was formed in 1960 as a cartel, which aimed to fix the worldwide supply of oil and its price. Opec nations produce about 30% of the world's crude oil. Saudi Arabia is the biggest...
