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6 hours ago · Even if OPEC+ delays the hikes penciled in for the first quarter, its oil production is still set to increase. The United Arab Emirates has been accorded the right to slowly ramp up an additional 300,000 barrels a day of production over the course of 2025, in recognition of recent investments in its capacity.
4 days ago · OPEC+ on Nov. 3 again postponed its first output hike, which had been set for December, by one month. OPEC+ members are holding back 5.86 million barrels per day (bpd) of output, or about 5.7% of ...
5 days ago · Weak fundamentals could prompt the OPEC+ group at the December 1 meeting to delay – once again – the output increase currently planned to begin in January, according to recent market speculation.
5 days ago · The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output.
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 ...
Oct 30, 2024 · The December increase is due to come from the eight OPEC+ members who agreed in September to start a gradual unwinding of the group's most recent layer of output cuts - a cut of 2.2 million bpd ...
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Oct 29, 2024 · (Bloomberg) -- Oil traders are divided over whether OPEC+ will proceed with plans to restore production in December, as crude prices falter amid a fragile economic outlook. The alliance led by Saudi Arabia and Russia is due to begin a sequence of monthly output increases with a hike of 180,000 barrels a day in December, as it gradually revives supplies halted since 2022.
