Topic: OPEC

OPEC+ agrees on record production cut

Oil & GasOPEC and its allies have agreed to cut oil production by 9.7 million barrels per day starting May 1st. The record cut is aimed at stabilizing the oil price which has dropped dramatically due to...Read more

14-04-2020|Comment|author: Adnan Bajic

Market doubts record production cuts of OPEC+ will be enough

Oil & GasOPEC+ yesterday revealed plans for record production cuts of 10 million barrels per day but the deal currently hinges on Mexico, which did not agree with the proposed cuts. Even if OPEC+ does reach consensus,...Read more

10-04-2020|Comment|author: Adnan Bajic

Oil prices jump 20% after Trump tweets about production cuts

Oil priceOil prices have jumped by over 20% to USD 31,62 (Brent) after Saudi Arabia called for an emergency of OPEC and its allies including Russia and President Donald Trump tweeted about possible production cuts of...Read more

03-04-2020|Comment|author: Adnan Bajic

OPEC agrees on further production cuts

OPEC and its partners have agreed to further cut production by 500,000 barrels per day in the first quarter of 2020, bringing their new combined cuts to 1.7 million barrels per day. The decision was...Read more

11-12-2019|Comment|author: Adnan Bajic