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

   www.reuters.com › markets › commodities

   May 24, 2024 · Because of its large market share, the decisions OPEC makes can affect global oil prices. Its members meet regularly to decide how much oil to sell on global markets. As a result, when they lower ...

   • Explainer: Why does OPEC+ often clash over oil production ...

     OPEC+ is working to agree oil production capacity for its...

   • OPEC boosts long-term oil demand outlook, driven by ...

     OPEC has been calling for more oil industry investment and...

2. www.reuters.com › markets › commoditiesExplainer: Why does OPEC+ often clash over oil production ...

   www.reuters.com › markets › commodities

   May 28, 2024 · OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation's output target is calculated from ...

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     What is OPEC? | CNBC Explains

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     Why did OPEC cut oil production? Key reasons explained

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     What is OPEC? | Explained

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4. globalnews.ca › news › 10522634What is OPEC and how does it affect oil prices?

   globalnews.ca › news › 10522634

   • Cached

   May 24, 2024 · OPEC+ to release more oil. OPEC says its job is to regulate supply and demand rather than prices. The group’s members depend heavily on oil revenue, with Saudi Arabia’s budget balancing at an ...

5. www.reuters.com › business › energyOPEC boosts long-term oil demand outlook, driven by ...

   www.reuters.com › business › energy

   Sep 24, 2024 · OPEC has been calling for more oil industry investment and said the sector needs $17.4 trillion to be spent to 2050, compared with $14 trillion needed by 2045 estimated last year.

6. www.morningstar.com › news › marketwatchWhat will OPEC+ decide on oil output? Here's why it's ...

   www.morningstar.com › news › marketwatch

   • Cached

   Nov 2, 2024 · Provided by Dow Jones Nov 2, 2024 4:35am. By Myra P. Saefong. If OPEC+ output increases as planned, oil prices could drop as low as $40 a barrel by March, S&P Global analyst says. Middle East ...

7. www.ft.com › content › 9da4cd41-fcc4-4c13-938d-00ff8Opec and allies agree further gradual increase in oil production

   www.ft.com › content › 9da4cd41-fcc4-4c13-938d-00ff8

   Feb 2, 2022 · The gradual rises in production have helped oil rally strongly in 2022, surpassing a seven-year high in January to trade at more than $90 a barrel for the first time since 2014. Brent rose as much ...

8. People also ask

   Will OPEC+ release more oil?

   • OPEC+ to release more oil. OPEC says its job is to regulate supply and demand rather than prices. The group’s members depend heavily on oil revenue, with Saudi Arabia’s budget balancing at an oil price of between $90 and $100 a barrel, according to various estimates.

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

   See all results for this question

   How does OPEC affect global oil prices?

   • OPEC estimates that its member countries hold about 80% of the world's proven oil reserves. Because of its large market share, the decisions OPEC makes can affect global oil prices. Its members meet regularly to decide how much oil to sell on global markets. As a result, when they lower supply in response to falling demand, oil prices tend to rise.

   What is OPEC+ and how does it affect oil prices? | Reuters

   www.reuters.com/markets/commodities/what-is-opec-how-does-it-affect-oil-prices-2024-05-24/

   See all results for this question

   Why did OPEC reduce oil production?

   • After that development, OPEC+ reduced oil production by 10 million barrels a day, which is equivalent to about 10 per cent of global production, to try to bolster prices. OPEC+ to release more oil. OPEC says its job is to regulate supply and demand rather than prices.

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

   See all results for this question

   Does OPEC regulate oil prices?

   • OPEC says its job is to regulate supply and demand rather than prices. The group's members depend heavily on oil revenue, with Saudi Arabia's budget balancing at an oil price of between $90 and $100 a barrel, according to various estimates.

   What is OPEC+ and how does it affect oil prices? | Reuters

   www.reuters.com/markets/commodities/what-is-opec-how-does-it-affect-oil-prices-2024-05-24/

   See all results for this question

   Will OPEC's joint oil production policy affect global oil prices?

   • Members of the The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia will meet next week (June 2, 2024) to discuss their joint oil production policy, which could have a impact on global oil prices. Jakub Porzycki/NurPhoto via Getty Images

   What is OPEC and how does it affect oil prices?

   globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

   See all results for this question

   Will OPEC+ agree oil production capacity by 2024?

   • LONDON, May 28 (Reuters) - OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation's output target is calculated from its notional capacity.

   Explainer: Why does OPEC+ often clash over oil production capacity?

   www.reuters.com/markets/commodities/why-does-opec-often-clash-over-oil-production-capacity-2024-05-28/

   See all results for this question

9. www.bbc.com › news › business-59353194US to release oil reserves in attempt to lower prices - BBC

   www.bbc.com › news › business-59353194

   Nov 23, 2021 · 23 November 2021. Getty Images. The US has said it is releasing 50 million barrels of oil from its reserves in an attempt to bring down soaring energy and petrol prices. The move is being taken in ...