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Showing results for FREEDOM WATCH, INC. v. ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES (OPEC)
Related Special Reports
...“Core Opec countries will see [their] market share restored over time, but Saudi Arabia needs to take care of maintaining fiscal spend in the short-term first....
...Oil prices dropped following Angola’s decision to quit the Organisation of Petroleum Exporting Countries. Brent crude, the international oil benchmark, fell 1.9 per cent to $78.17 a barrel....
...Opec+, which includes Opec members plus countries including Russia and Kazakhstan, has announced several rounds of reductions since October 2022....
...The country needs an oil price of closer to $100 a barrel to fund the ambitious economic reform programme of Crown Prince Mohammed bin Salman, but its efforts to cut production have not been welcomed by...
...Angola has said it is leaving the Organisation of Petroleum Exporting Countries in a blow to the oil cartel chaired by Saudi Arabia.The decision comes after the producer group lowered Angola’s oil output...
...While the country has attempted to lower its dependence on oil through an ambitious economic reform programme launched in 2016, oil accounted for 70 per cent of revenues in last three months of 2023....
...The cartel — which includes Opec members plus countries such as Russia, Mexico and Azerbaijan — has announced several rounds of supply cuts over the past 14 months....
...Opec: The cartel publishes its February Oil Market Report. Economic data: France publishes fourth-quarter unemployment rate data, while the UK releases labour market data for February....
...The EU is set to pave the way for completely ending gas imports from Russia and Belarus, and a record supply of oil from the US is complicating Opec+ maths....
...Since ordering the full-scale invasion of Ukraine in February 2022, Putin has limited his travels to countries of the former Soviet Union, as well as China and Iran....
...But the Financial Times reported this month that Opec countries might be looking to send a signal over the US’s backing for Israel amid the high level of destruction in Gaza....
...Following that review, all three countries’ baselines for 2024 were lowered at the last Opec meeting in November....
...The full breakdown of the allocation of the cuts is not yet available. Read more on Opec+ here...
...Oil prices have traded in a tight range of just a few dollars over the past month, but began to edge higher earlier in March after Opec+ members said they would extend voluntary production cuts, which were...
...“There may be some testing ahead of the Opec+ meeting....
...“When Opec cuts production in this way, they risk losing market share,” said Rats at Morgan Stanley. “A lot of Opec countries are keen to maximise their resources.”...
...“Every member country acknowledges the need to reduce output to support prices into 2024. The question is how to share the burden of this.”...
...Opec+, the producers’ cartel dominated by Saudi Arabia and Russia, simply is not the force it once was, controlling barely half of global crude oil supply this year....
...The hope in Opec+ was that the oil market was going to tighten in the second half of the year....
...But some experts suggested Opec+ members will proceed cautiously, mindful of their growing role on the international stage....
...Oil: The delayed meeting of the expanded Opec+ group will be held online. Economic indicators: November inflation data is expected for France and the eurozone at large....
...So to take on one hand the Opec producing countries, Saudi Arabia and its allies, they have been pursuing a hard core effort to try and bolster prices by implementing series of production cuts....
...Opec publishes its monthly oil market report....
...Last week, members of Opec+ agreed to make voluntary cuts to oil production to prop up prices. Brent crude prices have fallen about 7 per cent since just before the announcement....
...The country makes up a quarter of Opec’s forecast demand increase for the next couple of years....
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