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      • OPEC+ had planned to slowly roll back production cuts with small increases over many months in 2024 and 2025. But a slowdown in Chinese and global demand, and rising output outside the group, have put a dampener on that plan. This has left OPEC+ maintaining output cuts for longer than it had thought.

      OPEC+ may stick with deep oil cuts for longer due to weak ...

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

    1 day ago · OPEC+ had planned to slowly roll back production cuts with small increases over many months in 2024 and 2025. ... The group has cut output by 5.86 million barrels per day, or about 5.7% of global ...

  3. edition.cnn.com › 2024/06/02 › businessOPEC+ extends oil output cuts into 2025 - CNN International

    Jun 2, 2024 · The Organization of the Petroleum Exporting Countries and its allies — a group of leading oil producers known as OPEC+ — agreed Sunday to extend production cuts announced last year into 2025. The...

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  5. www.reuters.com › business › energyOPEC+ extends deep oil production cuts into 2025 | Reuters

    Jun 3, 2024 · OPEC+ members are currently cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand. Those include 3.66 million bpd of cuts, which were due to expire...

  6. www.bnnbloomberg.ca › business › internationalKazakhstan Again Misses OPEC+ Target for Cutting Oil Output

    Nov 12, 2024 · By Julian Lee. November 12, 2024 at 11:32AM EST. (Bloomberg calculation using data) (Bloomberg) -- Kazakhstan lowered oil production sharply in October, with maintenance work closing one of its main fields, but still failed to meet its OPEC+ output cuts target. The Central Asian nation pumped 1.29 million barrels a day in October, according to ...

  7. www.cnn.com › 2024/03/03 › businessOPEC+ members extend oil output cuts to Q2 | CNN Business

    Mar 3, 2024 · OPEC+ member nations have agreed to extend their voluntary cuts to crude oil production through the second quarter, the group announced Sunday. The move is a part of the group’s perpetual...

  8. www.reuters.com › business › energyWhy did OPEC cut oil production? Key reasons explained

    Apr 3, 2023 · 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.

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  10. www.opec.org › opec_web › enOPEC : Several OPEC+ countries announce extension of ...

    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.

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