![]() Of those cuts, experts expect an actual production cut of about half that level. The price for a barrel of crude oil rose from 76.71 to 92.64, an increase of just under 21. ![]() The 13-member Organization of the Petroleum Exporting Countries and its allies, which include Russia, lowered their production target by 2 million barrels per day last week, even though world supplies are considered tight. OPEC Calendar of Meetings and Reports 2022-Jan-04, OPEC and non-OPEC Ministerial Meeting 2022-Jan-18, OPEC Monthly Report 2022-Feb-02, OPEC and non-OPEC. This announcement had an immediate effect on the oil and gas markets, driving prices higher. The United States presented Saudi Arabia with an analysis showing there was no market basis to lower oil production before the OPEC+ decision to cut output, Kirby said in an earlier statement on Thursday, pushing against Riyadh's claims the output cut was "purely economic." The OPEC Funds work is people-centered, focusing on projects that meet basic needs - such as food, energy, clean water and sanitation, healthcare and. He said he was not going to identify the members to let them speak for themselves. The meeting will take place on October 5 in Vienna, Austria, according to the statement released by OPEC. ![]() "More than one" OPEC member disagreed with Saudi Arabia's push to cut production and felt coerced into the vote, National Security Council spokesman John Kirby told reporters. (Bloomberg) - OPEC+ plans to hold its first in-person meeting next week since March 2020 as the cartel weighs cutting oil production to stem a recent slump in prices. 3 min Vienna Austria, October 1 (ANI): Organization of the Petroleum Exporting Countries (OPEC) Plus is set to hold its meeting in Vienna next week, the first time since the COVID-19 pandemic began in 2020. WASHINGTON, Oct 14 (Reuters) - Saudi Arabia pushed other OPEC+ nations into an output cut last week, the White House claimed on Thursday, part of an escalating war of words between the two countries. The Organization of the Petroleum Exporting Countries (OPEC) agreed last Wednesday to cut its members’ oil production by 2 million barrels per day. ![]()
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