Search results
- Following a hybrid meeting held in Riyadh and online, OPEC+ announced voluntary output cuts amounting to 2.2 million barrels per day (b/d) would be extended until the end of September 2024. But the cuts will then be gradually phased out on a monthly basis over the final quarter of 2024 and the first three quarters of 2025.
oilprice.com/Energy/Oil-Prices/What-Does-OPECs-Strategy-Shift-Mean-for-the-Oil-Market.html
21 hours 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 ...
Mar 3, 2024 · The OPEC Secretariat noted the announcements of several OPEC+ countries extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting the stability and balance of oil markets.
Dec 21, 2023 · On November 30, 2023, OPEC (Organization of the Petroleum Exporting Countries) and its allies, collectively known as OPEC+, agreed to cut oil production by 1 million barrels per day (bpd)...
Nov 30, 2023 · A preliminary agreement has been reached that OPEC+ could cut more than 1 million barrels per day (bpd) next year, including Saudi Arabia extending its voluntary cuts and additional cuts...
Oct 5, 2022 · The OPEC+ alliance announced Wednesday that it will cut oil production by 2 million barrels a day, a move that's likely to send gas prices higher again after a year of tumult at the...
Oct 5, 2022 · Energy ministers meeting at the Vienna headquarters of the OPEC oil cartel cut production by two million barrels per day starting in November at their first face-to-face meeting since the...
Jun 5, 2023 · 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...
