The 12-nation conglomerate's long-term strategy report, shown to Reuters in advance of a June summit, shows OPEC thinks no one plans to slow oil production.
Similar Stories to Opec Doesn't Think Oil Glut Will End Until At Least 2017 on Bing News
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Thu, 05/28/2015 - 6:07pm
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- WTI halts losing streak after Saudi Arabia raises Oil prices for June
Oil prices edged up due to concerns about the potential failure of a Gaza ceasefire deal.
05/5/2024 - 4:02 pm | View Link - Oil prices rise as Israel-Hamas ceasefire hopes dim
Investing.com-- Oil prices rose in Asian trade on Monday after clocking their worst weekly decline in seven months, amid growing signs that the latest ceasefire talks between Israel and Hamas had ...
05/5/2024 - 2:35 pm | View Link - Oil Advances After Weekly Slump as Saudi Arabia Jacks Up Prices
Oil advanced after a weekly drop as Saudi Arabia hiked selling prices for grades to Asia for the third month in a row, signaling confidence in the outlook with the OPEC+ cartel cutting supply.Most ...
05/5/2024 - 2:20 pm | View Link - Oil Steady, Supply Concerns in Focus
Oil prices were steady in early Asian trade. Crude oil has come under some pressure as the risk of supply disruptions eases, ANZ Research analysts said.
05/5/2024 - 1:12 pm | View Link - Saudi Arabia Hikes Oil Selling Prices for All Grades to Asia
Saudi Arabia raised the price of its flagship crude to Asia for a third consecutive month, as the kingdom tries to tighten the oil market to prevent a global surplus.
05/5/2024 - 1:17 am | View Link - More
- What are OPEC and OPEC+? How do they influence oil prices? | World ...
OPEC produces about 40% of the world’s crude oil and its members’ exports make up around 60% of global petroleum trade. The group aims to regulate global oil prices by coordinating on reductions or increases in production.
05/3/2024 - 6:05 pm | View Website - What is OPEC+ and how does it impact oil prices? | Reuters
OPEC+ represents around 40% of world oil production and its main objective is to regulate the supply of oil to the world market. The leaders are Saudi Arabia and Russia, which produce around 9 and ...
05/3/2024 - 6:23 am | View Website - OPEC
A 2022 report further details that OPEC member countries were responsible for approximately 38 percent of it. [4] Additionally, it is estimated that 79.5 percent of the world's proven oil reserves are located within OPEC nations, with the Middle East alone accounting for 67.2 percent of OPEC's total reserves.
05/3/2024 - 4:15 am | View Website - OPEC : Home
OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization oil demand supply market upstream downstream Vienna Austria.
05/3/2024 - 1:59 am | View Website - Oil prices hit a seven-year high as OPEC and its allies stick with a ...
By Stanley Reed. Published Oct. 4, 2021 Updated Nov. 4, 2021. Oil prices hit their highest levels since 2014 as officials from OPEC, Russia and other oil producers decided on Monday to stick with ...
05/2/2024 - 2:17 pm | View Website - More
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