Saudi Arabia and Russia, members of OPEC+, agreed to maintain the voluntary cut in oil production this November 30. However, the measure could not contain the price drop by 2.8 %, to settle at $82.59 per barrel.
The decline in the value of the barrel "occurred a day after several members of the…
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production cut
OPEC+ cut in November equals 2 % of global demand
The recently announced decision by OPEC + to reduce daily production by 2 million barrels will be applied from November. The decision was published in a declaration at the end of the 33rd Ministerial Meeting of Members and non-OPEC Members.…
Oil prices rebound as OPEC discusses production cuts
Oil price continues to climb to maximum levels since the beginning of January 2020, after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC +.
In this way, the price of a barrel of Brent…
OPEC and allies consider applying more production cuts
Iraq and Nigeria are among the nations that have not properly complied with the commitment to reduce crude oil supplies, according to an agreement forged to direct barrel prices in the international market agreed in OPEC.
For its part,…