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Jun 2, 2022 · The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy...
Jun 2, 2022 · The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief.
Jun 2, 2022 · Opec and its allies on Thursday agreed to accelerate oil production in July and August, as the cartel’s linchpin Saudi Arabia bowed to US pressure to cool a crude price rally that has...
Jul 18, 2021 · Under the deal announced on Sunday, OPEC Plus, a group of 23 nations led by Saudi Arabia and including Russia, will increase output each month by 400,000 barrels a day, beginning in August. That...
- U.S. Trying to Boost Output
- High Oil Prices May Persist
- Change in OPEC Leadership
Biden's administration also is encouraging the U.S. oil and gas industry to increase production. "You've just seen the second-quarter results from some of these companies. They are record profits," Amos Hochstein, a senior adviser for energy security at the State Department, said Wednesday on CNBC. "They should be investing those dollars right back...
As a result, the amount of oil on the market might not keep up with demand, so high oil prices may persist for some time. The price of oil rose sharply after Russia invaded Ukraine in February. It fell somewhat since OPEC last met, but rose modestly Wednesday. A barrel of U.S. benchmark crude was selling for just over $94 US Wednesday, compared wit...
It was the first official monthly meeting of the OPEC+ group since its leader, Mohammad Sanusi Barkindo, died at age 63 in his home country of Nigeria last month. Haitham al-Ghais, a veteran of the Kuwait Petroleum Corporation, took over as secretary general of OPEC this week. In the U.S., a gallon of regular gasoline was selling for $4.16 on avera...
Jun 8, 2022 · On June 2, 2022, the Organization of the Petroleum Exporting Countries (OPEC) and 10 other oil exporters, collectively known as OPEC+, agreed to increase crude production by 648,000 barrels per day (b/d) in both July and August, compared with 432,000 b/d each month in their earlier commitments.
Jun 2, 2022 · OPEC+ announced it will increase its production by 200,000 barrels per day in July and August; The move could help address soaring energy prices and potentially ease inflation
