cuts
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Oil edges up after OPEC+ extends output cuts through second quarter
Oil prices ticked up slightly on Monday following the widely expected extension of voluntary output cuts by the OPEC+ producer group on Sunday.
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Iraq backs OPEC+ agreement, commitment to voluntary oil cuts
Iraq’s Oil Ministry spokesman Asim Jihad affirmed Iraq's support for the OPEC+ agreement and its commitment to voluntary oil cuts, according to the Iraqi News Agency on Friday.
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OPEC+ announces additional voluntary cuts to total of 2.2m bpd
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
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OPEC+ begins meetings which may lead to further output cuts
OPEC and its allies begin two days of meetings on Saturday which may culminate in further production cuts of as much as 1 million barrels per day, OPEC+ sources told Reuters, as the organisation faces flagging oil prices and a looming supply glut.
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OPEC+ discussing deepening oil production cuts, sources say
OPEC and its allies are discussing deepening oil production cuts, possibly by as much as 1 million barrels per day, three sources told Reuters on Friday as oil prices fell towards $70 per barrel and market analysts spoke of a new supply glut.
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OPEC+ surprise output cuts: Reasons and impacts
On October 5, 2022, oil and energy ministers of OPEC and non-OPEC producers, an alliance known as OPEC+, decided to slash oil output by two million barrels per day (bpd) in November and December 2022 in comparison with that of August 2022, extending the cut in their next sessions until the end of 2023.
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Owji: OPEC+ decides to cut output despite U.S. push for hike
SHANA (Tehran) – Iran’s Oil Minister Javad Owji Wednesday said OPEC+ decided to cut its output amid growing pressures from the U.S. for a rise.
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Expert cites Saudi-U.S. ties as reason for OPEC+ surprise output cuts
SHANA (Tehran) – Former OPEC affairs head of the Iranian Ministry of Petroleum cited two economic and political factors as main reasons behind the recent OPEC+ surprise decision to cut oil output.
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OPEC+ output cuts aimed at ending U.S. hegemonic energy policies
The collective oil output cut by OPEC+ is a very important decision made by the alliance, as it is, in fact, the big producers’ move toward ending the United States’ hegemonic energy policies.