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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 · 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 ...

   • Explainer: What OPEC+ oil output cuts are already in place ...

     OPEC+ after long negotiations in June extended oil output...

   • Explainer: Why is OPEC+ cutting oil output? | Reuters

     Saudi Arabia, the group's biggest producer, will make a deep...

2. 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 · 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.

3. Videos

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     bloomberg.com

     OPEC+ to Consider Output Cut of More Than 1 Million Barrels

     Oct 2, 2022

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     youtube.com

     OPEC+ Cuts Oil Output | Will Oil Prices Surge? How Could It Affect The Countries? | UPSC 2023

     Apr 3, 2023

     7.1K Views

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     reuters.com

     Why did OPEC cut oil production? Key reasons explained

     Apr 3, 2023

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4. www.statista.com › statistics › 1377843OPEC+: oil output cuts by member state 2023 | Statista

   www.statista.com › statistics › 1377843

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   Apr 29, 2024 · The total amount of crude oil output cuts by OPEC+ member countries will amount to 1.16 million barrels per day from May 2023 to December 2023. ... highest output cut among the OPEC+ countries ...

5. www.reuters.com › markets › commoditiesExplainer: What OPEC+ oil output cuts are already in place ...

   www.reuters.com › markets › commodities

   Nov 27, 2023 · OPEC+ after long negotiations in June extended oil output cuts of 3.66 million barrels per day (bpd), or about 5% of daily global demand, until the end of 2024.

6. money.usnews.com › investing › newsExplainer-OPEC+ Oil Policies: What Cuts Are Already in Place ...

   money.usnews.com › investing › news

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   Nov 21, 2023 · The group also cut its overall production targets from January 2024 by a further 1.27 million bpd versus current targets to a combined 40.58 million bpd, including a later adjustment made to ...

7. www.afr.com › companies › energyOPEC+ oil production cut: Why the cartel is cutting output now

   www.afr.com › companies › energy

   Apr 4, 2023 · The OPEC+ group has shocked oil markets by announcing a surprise production cut of more than 1 million barrels a day, boosting the oil price and raising tensions with Western allies.

8. People also ask

   Will OPEC+ cut production?

   • Deepening production cuts is also unlikely because several OPEC+ members are pushing to pump more, not less. Key among them is the United Arab Emirates, which argues it has kept output at around 3 million bpd for too long, far below its capacity.

   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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   Will OPEC cut oil production in 2025?

   • CNN’s Eva Rothenberg contributed to this report. 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.

   OPEC+ extends oil output cuts into 2025 - CNN International

   edition.cnn.com/2024/06/02/business/opec-oil-production-cuts-2025/index.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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   How much oil will OPEC cut in 2022?

   • Saudi Arabia, Russia and other members of the OPEC+ group of oil-producing countries have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022.

   Explainer-OPEC+ Oil Policies: What Cuts Are Already in Place and What

   money.usnews.com/investing/news/articles/2023-11-21/explainer-opec-oil-policies-what-cuts-are-already-in-place-and-what-could-change

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   Which OPEC countries have cut oil output?

   • Saudi Arabia, one of the world's largest oil producers, announced that its voluntary oil output reduction would amount to some 500,000 barrels per day (b/d), which would be by far the highest output cut among the OPEC+ countries. This was followed by Iraq, which plans to decrease its output by 211,000 b/d.

   OPEC+: oil output cuts by member state 2023 | Statista

   www.statista.com/statistics/1377843/opec-plus-oil-output-decrease-by-member-state/

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   What did OPEC cut in 2024?

   • On Sunday, in addition to extending the existing OPEC+ cuts of 3.66 million barrels per day (bpd), the group agreed to reduce overall production targets from January 2024 by a further 1.4 million bpd to a combined output of 40.46 million bpd.

   Explainer: Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com/business/energy/why-is-opec-cutting-oil-output-2023-06-05/

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9. www.reuters.com › business › energyExplainer: Why is OPEC+ cutting oil output? | Reuters

   www.reuters.com › business › energy

   Jun 5, 2023 · Saudi Arabia, the group's biggest producer, will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group faces flagging oil prices.