OPEC+ cuts oil supplies to the world as prices have fallen
Recently, recession fears have taken the upper hand. Economists in Europe are penciling in a recession at the end of this year due to
In June, fears that U.S. and European sanctions would take Russian oil off the market helped push Brent to over $123. Prices have fallen sharply in recent weeks as it became clear that Russia is still managing toBut concerns about the loss of Russian supply are still out there because European sanctions aimed at blocking most Russian oil imports won’t take effect until the end of the year.
That’s if the cap works as intended. Russia could refuse to supply oil to countries and companies observing the cap, which would take barrels off the market. The price cap has not been set, and its influence on the global price remains unclear.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Oil prices climb ahead of OPEC+ meetingPetroleum exporting states and allies will meet with the aim to keep current output levels or even cut production to bolster prices, despite supplies remaining tight.
Leer más »
OPEC+ JMMC recommends cutting oil output targets by 100K bpd in October – ReutersJoint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries and allies including Russia, known collectively
Leer más »
Oil Producer Group OPEC Surprises Energy Markets With a Small Production CutEnergy analysts had broadly expected the group to stay the course with its production policy.
Leer más »
OPEC+ cuts oil supplies to the world as prices fallOPEC and allied oil-producing countries, including Russia, have cut their supplies to the global economy by 100,000 barrels per day, underlining their unhappiness with crude prices that have sagged because of recession fears.
Leer más »
OPEC+ Agrees to Small Production Cut Amid Recession FearsOPEC+ agreed to cut oil production for the first time in over a year, saying it should pull back about 100,000 barrels a day amid fears of a global recession and more Iranian crude coming to the market
Leer más »
Oil prices climb as OPEC+ agrees to 100,000 barrel cut per dayOil prices climbed on Monday as members of the Organization of Petroleum Exporting Countries (OPEC+) agreed to cut output by 100,000 barrels a day in October.
Leer más »