Tag: Oil prices
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Why did OPEC cut oil production? Key reasons explained
OPEC and its allies, including Russia, agreed on Sunday to widen crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7%...
Goldman sees elevated OPEC pricing power, $100 per barrel by April 2024 after supply cut
Goldman Sachs says crude oil production cuts by OPEC could result in a significantly larger deficit in the market, driving a rally in prices...
OPEC+ surprise output cuts lift oil prices by $5 per barrel
Oil prices surged on Monday, jolted by a surprise announcement by OPEC+ to cut production further in what top producer Saudi Arabia called a...
OPEC+ output cuts are unadvisable, US says
The Biden administration said the surprise oil output cuts announced on Sunday by Saudi Arabia and other OPEC+ countries were not advisable.
"We don’t think cuts are...
Oil prices jump in blow to global inflation hopes
Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for...
