Published 2 years ago

OPEC+ to maintain oil output policy, steers away from plans for September

Summary by Ground News

OPEC+ agrees to add another 648,000 barrels per day in August, the same as for July. Russia's invasion of Ukraine exacerbated concerns about oil supplies, sending prices to record highs this year. The 13 members of OPEC, chaired by Saudi Arabia, and their 10 partners, led by Russia, drastically slashed output in 2020.

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Associated Press News

OPEC+ oil boost likely not much help to high gasoline prices

NEW YORK (AP) — The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high

2 years ago·United States

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abc News

OPEC+ may not be much help with high oil, gasoline prices

Oil prices are high, and drivers are paying more at the pump

2 years ago·United States

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Washington Times

OPEC+ may not be much help with high oil, gasoline prices

Oil prices are high, and drivers are paying more at the pump. But the OPEC oil cartel and allied producing nations may not be much help as they decide Thursday how much more crude to send to world markets.

2 years ago·United States

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KRDO

OPEC+ may not be much help with high oil, gasoline prices

By CATHY BUSSEWITZ Associated PressNEW YORK (AP) — Oil prices are high, and drivers are paying more at the pump. But the OPEC oil cartel and allied producing nations may not be much help as they decide Thursday how much more crude to send to world markets.That’s because the 23-member OPEC+ alliance, which includes Russia, is struggling to produce enough oil to keep up with the rebounding demand for fuel since the COVID-19 pandemic. Plus, Western…

2 years ago·Colorado Springs, United States

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IBTimes

OPEC+ Expected To Stay Course On Oil Output Boost

Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at their meeting on Thursday, despite pressure to further increase production. Russia's invasion of Ukraine has exacerbated concerns about oil supplies, sending prices to record highs this year. Hard on the heels of an EU ban on Russian oil imports over the invasion, the OPEC+ cartel agreed at their last meeting in early June to open the…

2 years ago·United States

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The Epoch Times

OPEC+ Sticks to Oil Output Policy, Avoids Debate on September Plans

LONDON—OPEC+ said on Thursday it would stick to its planned oil output hikes in August but avoided discussing policy from September onwards as prices have risen on tight global supplies and worries that the group has little ability to pump more crude. Thursday’s meeting of the group that includes Saudi Arabia, Russia, and other major oil producers was held days before President Joe Biden travels to the Middle East, including Riyadh where he is e…

2 years ago·New York, United States

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