Published 09/05/2024 3:22:00 p.m.

OPEC+ members delay plans to hike production by two months after oil price slump

OPEC+ has decided to delay the planned production cuts that were set to begin in October, now scheduled to start in December, according to anonymous OPEC+ sources.
Despite a global oil market deficit, oil prices have fallen nearly $7 per barrel in the past week.
Delaying the increase in production has led to a boost in oil prices by over 1%.

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OPEC+ agrees to delay October oil output hike for two months, sources say

OPEC+ has agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in nine months, three sources from the producers' group told Reuters on Thursday.

09/05/2024 2:38:49 p.m.·United Kingdom

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OPEC will delay the increase in oil production by two months, sources say

Members decided to keep the restrictions in place until after the next meeting scheduled in Vienna on December 1

09/05/2024 4:34:35 p.m.·Brazil

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Channel News Asia

OPEC+ agrees to delay October output hike for two months, sources say

LONDON/MOSCOW : OPEC+ has agreed to delay a planned October oil output increase for October and November after crude prices hit their lowest in nine months, two sources from the producers group told Reuters on Thursday.

09/05/2024 2:25:38 p.m.·Singapore

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OPEC+ members delay plans to hike production by two months after oil price slump

The increases were part of a plan to gradually return a broader 2.2 million barrels per day of supply to the market over the following months.

09/05/2024 2:34:04 p.m.·United States

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TASS [🇷🇺-affiliated]

OPEC+ countries extend voluntary oil production cuts until December

OPEC+ countries keep the opportunity at the same time to suspend the increase or adjust parameters as required

09/05/2024 4:50:22 p.m.·Moscow, Russian Federation

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OPEC+ Clinches Deal to Pause Planned Oil Hike After Price Rout

OPEC+ agreed to pause its planned oil output hike for two months after prices plunged amid fragile demand and plentiful supply.

09/05/2024 2:46:57 p.m.·United States

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45% Right

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46% Right

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