OPEC+ issues new plan for oil cuts

OPEC+’s Last Stand? A Fading Cartel Grapples with a Flood of Oil

(Analysis) In a world awash with crude, OPEC+’s latest gambit—unveiled on Thursday with a fresh slate of production cuts to offset quota-busting members—feels less like a masterstroke and more like a desperate rear-guard action. The plan, which demands Iraq, Kazakhstan, Russia, and even the usually disciplined Saudi Arabia to slash output by 189,000 to 435,000 […]

Some sources of energy are now referred to as ‘green'. Such a term may obscure energy reality. It is therefore important to discuss what ‘green' actually means, writes the Secretary General of OPEC in this guest article.

OPEC+ issues new plan for oil cuts

OPEC+ has issued a new schedule for seven member nations to make further oil output cuts to compensate for pumping above agreed levels, which will more than overtake the monthly production hikes the group plans to introduce next month.

OPEC+ unveils new plan for oil output cuts to address overproduction

The Organisation of the Petroleum Exporting Countries (OPEC+) has unveiled a new schedule for seven of its member nations to implement further oil output cuts.

Bankinter Market Consensus The OPEC+ has published a new calendar, which affects 7 countries, including Kazakhstan (it is producing above its quota: 1.767Mbd vs 1.570Mbs e.), Russia and Iraq. It forces them to reduce their production to compensate for the excess existing in market. The cuts range from 189.000bd to 435,000bd, cuts that are going to extend until June 2026. As a reference, OPEC already announced that from April it will increase pr…

Oil prices rose in Asian trading today. Analysts attribute the rise mainly to plans by the expanded OPEC+ group of oil suppliers to reduce production, foreign news agencies report.