Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

OPEC’s Oil Production Continued to Decline in January

OPEC’s oil production declined in January for a second consecutive month amid lower output from Iran and Nigeria, according to the monthly Reuters survey published on Wednesday. Last month, all 12 OPEC producers saw their combined output drop by 50,000 barrels per day (bpd) from December to 26.53 million, according …

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OPEC+ won’t Change Oil Production Plans

Despite pressure from President Trump and a recent rise in oil prices, the OPEC+ group has said it won’t change its current plan to begin gradually unwinding the cuts from April. The Joint Ministerial Monitoring Committee (JMMC), the OPEC+ panel reviewing policy and markets and potentially recommending actions to the …

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Oil Slips as Trump Calls for OPEC to Cut Prices

Oil prices slipped on Monday after US President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost US oil and gas output in his first week in office. Brent crude futures dropped 53c, or 0.68%, to $77.97 a barrel by 4.30am GMT after settling …

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OPEC Oil Production Falls as UAE Leads Supply Cuts

Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) declined last month, as the United Arab Emirates (UAE) intensified supply cutbacks aimed at stabilizing global oil markets. According to a Bloomberg survey, OPEC’s output fell by 120,000 barrels per day (bpd) to 27.05 million bpd, with the …

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