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1. • • OPEC+ has been restraining output for about two years in a bid to prevent the emergence of a huge supply surplus that could depress prices and hurt the oil-dependent economies of its member states. Its production cuts amount to about 5.7% of global crude supply.
     www.cnn.com/2024/06/12/energy/opec-oil-price-grip-loosen-iea/index.html

     OPEC may soon lose its sway over global oil prices, IEA says

2. Top Stories

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     OPEC+ may stick with deep oil cuts for longer due to weak demand

     OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more,

     Reuters

     1 day ago

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     Reuters on MSN.com

     Russia's Putin, Iraqi PM discuss OPEC+ coordination on oil price stability

     10 hours ago

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     btimesonline

     HSBC: OPEC+ Likely to Extend Production Cuts, Oil Prices to Stabilize at $70 in 2025

     2 days ago

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     FXEmpire.com

     Natural Gas and Oil Forecast: Will OPEC+ Output Cuts Delay Price Recovery?

     15 hours ago

   • FXEmpire.com

     OPEC+ Unity Will Be Tested As Market Share Shrinks

     1 week ago

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3. 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 · Saudi Arabia has announced it will be cutting its production of crude oil by a million barrels a day to try to boost prices. Other members of the oil producers' group Opec+ agreed to keep their...

4. 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+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some ...

5. www.reuters.com › markets › commoditiesWhat is OPEC+ and how does it affect oil prices? | Reuters

   www.reuters.com › markets › commodities

   May 24, 2024 · The OPEC+ group is currently cutting output by 5.86 million bpd, equal to about 5.7% of global demand. The cuts include 3.66 million bpd by OPEC+ members to the end of 2024. A further 2.2...

6. www.reuters.com › business › energyWhy did OPEC cut oil production? Key reasons explained

   www.reuters.com › business › energy

   Apr 3, 2023 · OPEC+ has criticised the International Energy Agency, the West's energy watchdog in which the United States is the biggest financial donor, for releasing oil stocks last year, a move it said was...

7. www.bbc.co.uk › news › business-61188579Opec: What is it and what is happening to oil prices?

   www.bbc.co.uk › news › business-61188579

   Jun 5, 2023 · Saudi Arabia has announced it will be cutting its production of crude oil by a million barrels a day to try to boost prices. Other members of the oil producers' group Opec+ agreed to keep their...

8. www.aljazeera.com › news › 2022/10/6Why is OPEC+ cutting oil production and what’s next?

   www.aljazeera.com › news › 2022/10/6

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   Oct 6, 2022 · Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC+ group of nations announced its largest supply cut since 2020. The move comes ahead of European...

9. People also ask

   Will OPEC+ cut cause a rise in oil prices?

   • Other members of the oil producers' group Opec+ agreed to keep their output levels unchanged, having made cuts of more than one million barrels a day last April. Oil analysts do not expect the most recent cut to cause a big rise in world crude prices. What is Opec+?

   Opec: What is it and what is happening to oil prices? - BBC

   www.bbc.com/news/business-61188579

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   Will OPEC+ make production cuts?

   • Saudi Arabia's oil minister stated that the country 'gains nothing' from remaining in OPEC+ after disagreements emerge over production cuts. OPEC+, including Saudi Arabia and Russia, agreed to voluntary output cuts for the first quarter of 2024.

   OPEC | Today's latest from Al Jazeera

   www.aljazeera.com/tag/opec/

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   Why did OPEC decide to cut oil production?

   • OPEC+ agreed to its deepest cuts to oil production since the coronavirus pandemic. The US criticised the group for insisting that the cut was economically motivated, rather than politically motivated. (The passage does not directly answer the question with the word 'why they cut oil', but it does provide context about the reason given for the cut.)

   OPEC | Today's latest from Al Jazeera

   www.aljazeera.com/tag/opec/

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   How much oil does OPEC produce?

   • Opec nations produce about 30% of the world's crude oil. Saudi Arabia is the biggest single oil supplier within the group, producing more than 10 million barrels a day. In 2016, when oil prices were particularly low, Opec joined forces with 10 other oil producers to create Opec+.

   Opec: What is it and what is happening to oil prices? - BBC

   www.bbc.com/news/business-61188579

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   How does OPEC+ work?

   • Together, Opec+ countries produce about 40% of all the world's crude oil. "Opec+ tailors supply and demand to balance the market," says Kate Dourian, of the Energy Institute. "It keeps prices high by lowering supplies when the demand for oil slumps." The organisation can also lower prices by putting more oil into the market.

   Opec: What is it and what is happening to oil prices? - BBC

   www.bbc.com/news/business-61188579

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   Will OPEC+ be able to increase oil output in December?

   • Our Standards: The Thomson Reuters Trust Principles. OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more, sources and analysts said.

   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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10. www.aljazeera.com › tag › opecOPEC | Today's latest from Al Jazeera

    www.aljazeera.com › tag › opec

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    Jul 29, 2023 · Stay on top of OPEC latest developments on the ground with Al Jazeera’s fact-based news, exclusive video footage, photos and updated maps.