Search results
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 ...
- OPEC+ agrees to delay December output hike for one month
Before Sunday's one-month postponement, the eight OPEC+...
- OPEC+ agrees to delay December output hike for one month
Nov 3, 2024 · Before Sunday's one-month postponement, the eight OPEC+ members were due to gradually unwind the 2.2 million bpd cut by increasing supply in December 2024 and over the following months into next year.
2 days ago · The next OPEC+ meeting is scheduled for December 1st, where the group will decide on its next production policy. HSBC estimates that a three-month extension could offset some of the weak demand, but even with the delay, the oil market would still see an average surplus of 500,000 barrels per day in 2025, slightly lower than previous forecasts.
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.
Nov 4, 2024 · A larger group called OPEC+, consisting of OPEC members plus other oil-producing countries, have agreed to extend their oil production cut to 2.2 million barrels per day (bpd) until the end of ...
Nov 6, 2024 · Eight OPEC+ countries, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, have agreed to extend their oil output cuts by one month, until the end of December 2024. In June 2024, OPEC+ said its 2.2 mb/d in voluntary cuts would be extended until September 2024, but would then be gradually reduced month by month until they are eliminated by ...
People also ask
What are OPEC+'s supply cuts?
Why did OPEC+ cut its output in December?
Will OPEC+ be able to increase oil output in December?
How has OPEC+ impacted oil prices?
Will OPEC+ roll back production cuts in 2024 & 2025?
Will OPEC+ cut production?
Jun 2, 2024 · Opec+ members are implementing three sets of supply cuts introduced since November 2022. The first set, a group-wide cut of 2mn b/d set to expire at the end of the year, was extended for 12 months ...
