Several OPEC+ members on Sunday announced intentions to voluntarily cut a further combined 1.16 million barrels per day of production, in a move independent from the broader bloc’s output

In 2021, OPEC estimated that its member countries accounted for more than 80per cent of the world's proven oil reserves. Because of the large market share, the decisions OPEC makes can affect

The OPEC oil cartel led by Saudi Arabia and allied producers including Russia will try to agree Thursday, Nov. 30, 2023 on cuts to the amount of crude they send to the world, with prices having
On Monday, OPEC announced that it would slash oil production targets for October by 100,000 barrels per day. The group of oil producers expressed concerns over weakened demand, slipping prices and
Brent crude reached more than $86 a barrel in late October, a three-year high, and has surged more than 60% this year alone. It has fallen in the days ahead of the OPEC meeting, trading at $81.86
That's because the US has been producing boatloads of oil, notching record levels of production and crude oil exports. "OPEC+ just can't cut enough to sustain a price much above where we are right
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