You Searched For "OPEC output cut" and got 20 results
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2 mins read
OPEC+ extends major oil production cuts until 2025 to stabilise market
Faced with slow demand growth, high interest rates, and the rise in U.S. oil production, the group …
ANI
2 mins read
OPEC+ output witnesses biggest drop in six months, falling short of agreed cuts
In January, OPEC+ crude output witnessed a decline of 340,000 b/d, attributed partly to voluntary c…
ANI
2 mins read
Saudi minister says crude prices could fall 33% if OPEC members don't stop pumping so much
Prince Abdulaziz bin Salman said OPEC members are ignoring their quotas.
Filip De Mott
1 min read
Russia's weekly oil flows spike to the highest in 5 months as OPEC and allies grapple over cuts to output
Russian oil exports jumped over the last week. OPEC and its allies have been trying to curb output …
Jennifer Sor
1 min read
OPEC Plus will continue oil output cuts as prices remain unchanged
OPEC described the move as aiming to "achieve and sustain a stable oil market, and to provide long-…
ANI
1 min read
Putin backs OPEC production cuts but warns of losing oil-market share to the US
Putin backed the production cuts, but said the output is dropping "while it grows in other countrie…
Yuheng Zhan
4 mins read
Headroom to cut petrol and diesel prices by ₹2-3 per litre: Icra
A reduction in crude oil prices in recent weeks has improved margins on retail auto fuels, providin…
2 mins read
Oil prices could crash 50% if OPEC+ lets output rise and doesn't extend cuts through 2024, Citi commodities research chief says
Eliminating oil production cuts would be "so painful" for OPEC that the organization is likely to s…
Filip De Mott
2 mins read
Here's why OPEC's production cuts haven't boosted the price of oil
Oil demand is uncertain at a time when supply is rising both from countries within OPEC+ and from p…
Phil Rosen
1 min read
OPEC+ to cut oil output by 2 million bpd from November
The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+…
1 min read
Oil prices briefly spike as Russia suggests more OPEC+ cuts will hit markets in 2024
But oil prices later gave up gains and turned lower, with Brent crude and West Texas Intermediate b…
Jennifer Sor
1 min read
No matter how much OPEC cuts oil production, other countries will 'fill the hole,' trader says
"We're looking at 2024 and we're concerned that the market is actually going to end up being oversu…
Aruni Soni
1 min read
Brace for a 'bump at the pump' as OPEC's surprise output cut could send gas prices above $4 a gallon, say analysts
A surge in gas prices due to OPEC+'s crude output cuts would come as a blow to American drivers who…
Zahra Tayeb
1 min read
The huge OPEC+ oil output cuts could push the global economy into recession, IEA warns
"Higher oil prices may prove the tipping point for a global economy already on the brink of recessi…
Zahra Tayeb
3 mins read
Crude oil market at the crossroads — S&P Global Commodity insights unveils in-depth 2024 energy outlook
According to S&P Global, against the backdrop of a turbulent global stage, characterized by economi…
ANI
1 min read
The world is 'far off' from peak oil amid strong demand, OPEC chief says
Robust demand from countries like India, which is showing "phenomenal economic growth," mean peak o…
Aruni Soni
2 mins read
Saudi Arabia may wage oil 'market share war' against the US, reversing output cuts and unleashing a flood of supply, energy expert says
"You've got to attack the guy that's making the marginal decision to drill or not — and that guy is…
Aruni Soni
2 mins read
Oil prices spike 6% after OPEC's unexpected supply cut
The oil cartel announced it was slashing production by over 1 million barrels a day, shrugging off …
Phil Rosen
2 mins read
Russia applauds OPEC+ for its huge oil output cut, reportedly saying it will counter the 'mayhem' the US has created in the market
"This at least balances the mayhem that the Americans are causing," Kremlin spokesman Dmitry Peskov…
Zahra Tayeb
2 mins read
OPEC slashed oil production last month as the group kicks off plan to boost sagging prices
OPEC+ scaled back oil output by 490,000 barrels a day last month, Bloomberg reported, with half of …