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Jun 3, 2024 · On Sunday, OPEC+ agreed to extend the cuts of 3.66 million bpd by a year until the end of 2025 and prolong the cuts of 2.2 million bpd by three months until the end of September 2024. OPEC+ will ...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
OPEC+ had planned to slowly roll back production cuts with...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
Nov 13, 2024 · Global oil supply rose by 290 kb/d in October to 102.9 mb/d, as the return of Libyan barrels to the market more than offset lower Kazakh and Iranian supplies. OPEC+ delayed the unwinding of extra voluntary production cuts to January, at the earliest. Non-OPEC+ producers will boost supply by roughly 1.5 mb/d in both 2024 and 2025.
1 day ago · 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 ...
Aug 23, 2024 · Under this plan, total OPEC⁺ production is scheduled to increase by roughly 180,000 b/d each month in the fourth quarter of 2024 and then by 210,000 b/d each month in the first nine months of 2025.
Oct 11, 2023 · The higher oil prices are a reflection of the EIA's estimates that oil production by OPEC+ members will fall by 340,000 b/d in 2024 to 37.84 million b/d, following a 1.39 million b/d decline in 2023 that partly offset an expected 2.7 million b/d of production growth achieved by non-OPEC producers.
Nov 30, 2023 · The above will be in addition to the announced voluntary cut by the Russian Federation of 500 thousand barrels per day for the same period (starting 1st of January until the end of March 2024), which will be made from the average export levels of the months of May and June of 2023, and will consist of 300 thousand barrels a day of crude oil and 200 thousand barrels per day of refined products.
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Oct 15, 2024 · Global oil supply plunged by 640 kb/d in September to 102.8 mb/d, with Libya’s political quagmire disrupting the country’s oil production and exports, and as field maintenance work in Kazakhstan and Norway lowered output. Non-OPEC+ supply growth of around 1.5 mb/d this year and next is led by the Americas, accounting for 80% of gains.
