Oil Market

OPEC Production Cuts

Further OPEC+ Production Cuts Could Be Looming | OilPrice.com

OPEC+ reversed on Monday this month’s increase in oil production targets and cut the group’s collective quota by 100,000 barrels per day (bpd) for the month of October. While the move is totally negligible in terms of actual supply to the market, considering not only the slight change in the overall target but also the …

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OPEC

OPEC’s Lackluster Quota Hike Won’t Solve Oil Market Tightness | OilPrice.com

Yesterday, OPEC and its partners led by Russia agreed to increase their combined oil production by 100,000 bpd in September. Reports note that the decision follows calls from the US and other big consumers for more oil. However, 100,000 additional barrels daily will probably not be enough to lower prices much further. The production increase …

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