OPEC

OPEC will consider an oil output cut of more than a million barrels per day bpd next week OPEC sources said on Sunday in what would be the biggest move yet. 1 day agoBiden administration officials have spent more than a week in discussions with their counterparts from oil-producing countries in the Middle East seeking to minimize production.

Opec Says It Will Cut Oil Output The New York Times

OPEC not to blame for soaring inflation new secretary general says.

. 1 hour agoA New York Times piece reported that OPECs decision to cut oil production signifies that President Joe Bidens fist bump diplomacy with the Saudi Arabian Crown Prince. What does OPEC do. OPEC is a permanent cooperative intergovernmental organisation designed to reduce control of the oil industry by large multinational corporations.

New OPEC Secretary-General Haitham Al Ghais says hes bullish on oil. Send any friend a story As a. 20 hours agoOPECs decision to curb oil production was a signal that President Bidens influence over his Gulf allies was far less than he had hoped.

Hence OPEC is somewhat like an international lobby group for oil-producing countries. This was the first OPEC meeting since US President Joe Biden visited Saudi Arabia last month. The organization was founded in 1960 and initially consisted of just five members.

Biden urged the country which is the groups biggest oil producer to start. The Organization of Petroleum Exporting Countries OPEC is an organization of 13 oil-producing countries. In 2019 791 of the worlds oil reserves were located in OPEC.

1 day agoOPEC says no SPR options all but gone the organization tweeted. The WH has one option left and it is the one option they should have never turned away from in the first. On Monday OPEC announced that it would slash oil production targets for October by 100000 barrels per day The group of oil producers expressed concerns over weakened.

OPEC said Monday it would reduce oil production next month the cartels first output cut since the depths of the pandemic as it braces for a global economic slowdown to. OPECs production for September came in below its specified quota for the month although the month on month increase in production was higher than the promised 64000 bpd. OPEC in full Organization of the Petroleum Exporting Countries multinational organization that was established to coordinate the petroleum policies of its members and to provide member.

546 AM ET Wed 17 Aug 2022.

Opec Plus Keeps All Options Open On Supply Energy Intelligence