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- In its new 2023 oil market outlook, Energy Intelligence posits that OPEC+ is targeting a calmer market for 2023, and a likely price range target of around $80-$90 per barrel, and will, as such, likely move to act if oil starts rising above $100, which would be seen as too volatile and reminiscent of earlier in 2022.
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May 31, 2023 · Oil prices on Nov. 16 slumped by about 5% to a four-month low amid economic growth concerns. They have since recovered some ground on expectations that OPEC+ will take action to shore up prices.
- OPEC raises oil demand view in long-term outlook | Reuters
World demand in 2028 will reach 110.2 million bpd, OPEC...
- ANALYST VIEW More OPEC+ cuts likely next year, as oil prices ...
LONDON, Nov 20 (Reuters) - The Organization of the Petroleum...
- OPEC raises oil demand view in long-term outlook | Reuters
Jun 5, 2023 · Opec+ had to boost prices by cutting production dramatically - by more than nine million barrels per day. Following Russia's invasion of Ukraine, the price of Brent crude soared to more than...
Dec 17, 2023 · Whether that happens or not, desperate attempts by OPEC+ to support the oil prices - currently down by 20% since October (at 15:13 EST on December 15, 2023) - have certainly and unwittingly...
Oct 9, 2023 · World demand in 2028 will reach 110.2 million bpd, OPEC said, up from 102 million bpd in 2023. It predicted oil use in 2027 would reach 109 million bpd, up from 106.9 million bpd estimated in...
Nov 21, 2023 · LONDON (Reuters) - Saudi Arabia, Russia and other members of OPEC are scheduled to meet in Vienna on Sunday and could make further changes to an agreement that already limits supply into 2024,...
Nov 20, 2023 · LONDON, Nov 20 (Reuters) - The Organization of the Petroleum Exporting Countries and allies (OPEC+) are likely to extend or even deepen oil supply cuts into next year, after a more than 15%...
Nov 11, 2022 · OPEC+ in October decided to cut production by 2 million barrels a day – the biggest reduction since April 2020. It says the move is entirely based on “economic factors” and aims to support stability and balance in oil markets. It insists the cut was a unanimous decision by its members.
