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In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025.

Prices for U.S. crude also rose about 2 percent to above $71 a barrel. OPEC Plus had first announced in June that it would gradually increase production by an estimated 2.2 million barrels a day ...

OPEC Extends Its Oil Output Cuts by One Month Until the End of December Saudi Arabia and allied oil producing countries said on Sunday they would postpone a plan to gradually increase oil output ...

according to a statement posted on OPEC’s website on Sunday. They had already postponed the restart from October as faltering demand in China and swelling supplies from the Americas pressure prices.

In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025.

ING and other forecasters had assumed the Saudis and OPEC would rather risk even lower prices with additional supply in order to regain market share. This clearly wasn’t the case. Therefore ...

“Concerns that OPEC was poised to oversupply a fragile market have been weighing significantly on sentiment,” RBC Capital Markets LLC analysts including Helima Croft said in a Nov. 3 note. “A ...

OPEC has repeatedly revised down its 2024 demand estimates, citing a drop in diesel use and slower-than-expected economic activity in China. The rise of EVs and LNG trucks in China signals a long ...

Oil prices jump, but can't avert fourth-straight weekly loss; OPEC meeting eyed By Investing.com - Nov 17, 2023 Investing.com -- Oil prices staged a rally Friday, but that proved too little too ...