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- OPEC+ has delayed its planned production increase for a second time, responding to weaker demand in China and ample supplies from the Americas. The decision is influenced by geopolitical tensions, particularly the upcoming US presidential election, and concerns about falling oil prices.
oilprice.com/Energy/Crude-Oil/Why-OPEC-Delayed-Its-Planned-Oil-Production-Increase.html
1 day ago · The U.S. has become the world's largest oil producer, pumping more than 20 million bpd or a fifth of global production. Top OPEC producer Saudi Arabia's crude output is less than 9% of the global ...
- OPEC⁺ faces moment of truth on planned output increase
Saudi Arabia and other OPEC⁺ members are enforcing three...
- OPEC⁺ faces moment of truth on planned output increase
Aug 23, 2024 · Saudi Arabia and other OPEC⁺ members are enforcing three separate tranches of production cuts put in place since late 2022 to drain excess petroleum inventories and support prices.
Oct 30, 2024 · (Bloomberg) -- OPEC and its allies aren’t likely to bring oil output back this year because producers are “making huge money” from refined products, according to Rystad Energy.
- Christopher Charleston
Nov 4, 2024 · OPEC Plus had first announced in June that it would gradually increase production by an estimated 2.2 million barrels a day, or around 2 percent of global supplies, in October. That had been a ...
Feb 16, 2024 · 1. OPEC Plays the Bullish Tune, Hinting at Need to Increase Production. - Even though the IEA cut its 2024 demand forecast to 1.22 million b/d this month, OPEC remains vehemently bullish...
- Editorial Dept
Nov 4, 2024 · Oil prices climbed nearly 3% on Monday on OPEC+'s decision for a month's delay in plans to increase output, while investors also focused on the U.S. presidential election.
Sep 5, 2024 · OPEC Plus will extend its cuts until at least December. Demand has weakened, and other countries, including the United States, are expected to continue to increase production.
