The world is facing its largest oil deficit in 15 years. According to Bloomberg, a week ago the price of Brent oil exceeded $90 per barrel following Saudi Arabia’s decision to extend the production limit of one million barrels per day until the end of... #OilInventories #OilPrices #OilProduction #OPEC
Oil prices have hit a nine-month high. As Trading Economics writes, WTI oil rose above $85 per barrel amid expectations that the leaders of the OPEC+ countries will continue to cut oil production. The Deputy Prime Minister of the Russian F... #OilPrices #OilProduction #OPEC #RussianOil
Oil became cheaper after the price spike at the end of July. Oil prices eased slightly on August 1 after rallying in July amid supply cuts from OPEC+ and positive macroeconomic statistics from the world’s largest economies. The October futures price for B... #GlobalOilPrice #oilfutures #OPEC
OPEC+ will reduce oil production by two million barrels per day. Representatives of the OPEC organization and other oil countries, led by Russia, agreed at a meeting in Vienna to reduce oil production by two million barrels per day. It is expected that the decision... #OilProduction #OPEC #OPECmeeting
OPEC and its allies have agreed to pump more oil to reduce global prices. OPEC and its ten allies agreed to more than expected daily production growth in order to mitigate the effects of rising fuel prices amid Russia’s war in Ukraine, reported the WSJ. The move rep... #GlobalOilPrices #OilProduction #OPEC #OPECagreement
OPEC wants to suspend the agreement with Russia and open doors for Saudi Arabia and UAE. Some OPEC members are exploring the possibility of suspending Russia’s participation in an oil-production deal while they are under Western sanctions. At the same time, a partial European ban has beg... #OilProduction #OPEC #SanctionsAgainstRussia
