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OPEC+ is accelerating its oil production increases, aiming to fully unwind its 2023 supply cuts by September, risking an oversupplied market and pressuring U.S. shale producers.
OPEC oil output rose in May, a Reuters survey found, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the United Arab ...
The group still has in place other layers of cuts amounting to 3.66 million bpd. The group of eight OPEC+ members will next meet on August 3. (Reporting by OPEC Newsroom.
OPEC’s crude oil production rose by 180,000 barrels per day (bpd) to 27 million bpd in May, with producers part of the OPEC+ agreement raising output by much less than the 411,000 bpd headline ...
Behind OPEC+ oil output hike, Saudi-Russian tensions simmer By Ahmad Ghaddar, Dmitry Zhdannikov and Alex Lawler June 2, 202510:16 AM PDTUpdated June 2, 2025 ...
Compliance with the supply-cut deal was 94 percent in February among OPEC and non-OPEC oil producers combined, Russia’s Novak said. Russia is committed to cuts of 300,000 bpd by the end of ...
Oil futures were lower for a third session with prospects of increased output and easing demand keeping buyers at bay.
CAIRO, Egypt - OPEC held off on announcing new oil output cuts on Saturday, but its alarm over falling demand and a slumping economy potentially laid the groundwork for a ...
2don MSN
U.S. stock-market futures inched higher Sunday, after Wall Street ended last week with its worst session since April.
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