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- The OPEC+ member states cut production starting in November after gathering for their first face-to-face meeting at their Vienna headquarters since the start of the COVID-19 pandemic. The group said the decision was based on the “uncertainty that surrounds the global economy and oil market outlooks”.
www.aljazeera.com/news/2022/10/6/why-is-opec-cutting-global-oil-production
Apr 3, 2023 · Here are the main reasons why OPEC+ is cutting output: CONCERNS ABOUT WEAK GLOBAL DEMAND. Saudi Arabia has said voluntary output cuts of 1.66 million bpd on top of the existing 2 million bpd...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
This has left OPEC+ maintaining output cuts for longer than...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
Here are the main reasons why OPEC+ cut output: CONCERNS...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
17 hours 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 ...
Jun 5, 2023 · Here are the main reasons why OPEC+ cut output: CONCERNS ABOUT WEAK GLOBAL DEMAND. Data from China has aroused fears that the economic recovery after coronavirus lockdowns by world's...
Jun 5, 2023 · Why is Opec+ cutting oil output? Saudi Arabia's voluntary cut of one million barrels a day comes into effect in July. It follows a cut of 1.16 million barrels a day in April, which was...
Apr 3, 2023 · The Opec+ group has shocked oil markets by announcing a surprise production cut of more than 1mn barrels a day, boosting the oil price and raising tensions with western allies.
Oct 6, 2022 · Here is what we know: What has OPEC decided and why? The Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, on Wednesday agreed to slash output by two...
Mar 6, 2024 · (REUTERS) The Organisation of Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia and Russia agreed earlier this week to extend voluntary oil output cuts of 2.2 million...
