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

   www.reuters.com › business › energy

   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 ...

   • OPEC+ agrees to delay December output hike for one month

     The December hike was due to be 180,000 bpd, a small part of...

2. www.nbcnewyork.com › news › businessOil could plunge to $40 in 2025 if OPEC unwinds voluntary ...

   www.nbcnewyork.com › news › business

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   Nov 13, 2024 · Oil prices may see a drastic fall in the event that OPEC+ unwinds its existing output cuts, said market watchers. A decline to $40 a barrel would mean around 40% erasure off current crude prices.

3. oilprice.com › Energy › Crude-OilAs Oil Struggles To Hit $90, Will OPEC+ Cut Production Again ...

   oilprice.com › Energy › Crude-Oil

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   Jul 2, 2024 · Early June saw OPEC+ extend its 3.66 million barrels per day (bpd) of production cuts to the end of 2025. It also announced that it would extend another 2.2 million bpd to the end of September 2024.

   • Author: Simon Watkins

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

   edition.cnn.com › 2024/06/02 › business

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   Jun 2, 2024 · Despite the OPEC+ cuts, in total equivalent to about 5.7% of global crude supply, and ongoing tensions in the Middle East, global oil prices have fallen by about 11% since hitting a five-month ...

5. www.reuters.com › markets › commoditiesOPEC+ agrees to delay December output hike for one month

   www.reuters.com › markets › commodities

   Nov 3, 2024 · The December hike was due to be 180,000 bpd, a small part of the total 5.86 million bpd of output OPEC+ is holding back, equal to about 5.7% of global demand. OPEC+ agreed those cuts in separate ...

6. 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 · Why is Opec+ cutting oil output? ... However, by March 2023 it had fallen back to little above $70 a barrel - a 15-month low. ... says that the most recent production cut may force prices above ...

7. People also ask

   When will OPEC+ cut its oil production?

   • Early June saw OPEC+ extend its 3.66 million barrels per day (bpd) of production cuts to the end of 2025. It also announced that it would extend another 2.2 million bpd to the end of September 2024. Together, these cuts comprise around 5-6% of global oil demand.

   As Oil Struggles To Hit $90, Will OPEC+ Cut Production Again Soon?

   oilprice.com/Energy/Crude-Oil/As-Oil-Struggles-To-Hit-90-Will-OPEC-Cut-Production-Again-Soon.html

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   How has OPEC+ impacted oil prices?

   • 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 since 2022 to support the market. Despite OPEC+'s cuts and delays to output hikes, oil prices have mostly stayed in the $70-$80 per barrel range this year.

   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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   Why did OPEC+ cut its output in December?

   • The December hike was due to be 180,000 bpd, a small part of the total 5.86 million bpd of output OPEC+ is holding back, equal to about 5.7% of global demand. OPEC+ agreed those cuts in separate steps since 2022 to support the market.

   OPEC+ agrees to delay December output hike for one month

   www.reuters.com/markets/commodities/opec-agrees-delay-december-output-hike-one-month-sources-say-2024-11-03/

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   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+ unwind its output cuts?

   • Oil prices may see a drastic fall in the event that OPEC+ unwinds its existing output cuts, said market watchers. A decline to $40 a barrel would mean around 40% erasure off current crude prices. However, the alliance is more likely to opt for a gradual unwinding early next year, compared to a full scale and immediate one, the analysts said.

   Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production c…

   www.nbcnewyork.com/news/business/money-report/oil-could-plunge-to-40-in-2025-if-opec-unwinds-voluntary-production-cuts-analysts-say/5979604/

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   Will OPEC+ cut oil prices in 2025?

   • OPEC+ has extended its production cuts totaling 3.66 million bpd until 2025. Prominent OPEC countries may be reluctant to risk lower oil prices, as doing so could jeopardize the budgets for their ambitious national spending programs. Early June saw OPEC+ extend its 3.66 million barrels per day (bpd) of production cuts to the end of 2025.

   As Oil Struggles To Hit $90, Will OPEC+ Cut Production Again Soon?

   oilprice.com/Energy/Crude-Oil/As-Oil-Struggles-To-Hit-90-Will-OPEC-Cut-Production-Again-Soon.html

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8. www.cnn.com › 2023/04/02 › businessOil prices surge after OPEC+ producers announce surprise cuts

   www.cnn.com › 2023/04/02 › business

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   Apr 2, 2023 · The collective output cut by the nine members of OPEC+ totals 1.66 million barrels per day, the analysts said. They increased their price forecast for Brent this December to $95 per barrel.