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Apr 3, 2023 · Key reasons explained. LONDON, April 3 (Reuters) - OPEC and its allies, including Russia, agreed on Sunday to widen crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of ...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
The group has cut output by 5.86 million barrels per day, or...
- Explainer: Why is OPEC+ cutting oil output? | Reuters
The Organization of the Petroleum Exporting Countries and...
- OPEC+ may stick with deep oil cuts for longer due to weak ...
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.
15 hours ago · 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 since 2022 to support the market. ... OPEC+'s oil output is equal to 48% of ...
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 voluntarily ...
Jun 5, 2023 · The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
Oct 6, 2022 · 6 Oct 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 ...
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Oct 5, 2022 · The OPEC+ alliance announced a 2 million barrels a day cut in oil production Wednesday — an amount that could drive oil and gas prices back up after weeks on a downward trend. The meeting of the ...