Name: OPEC Cuts Production. Again. Get ready for higher oil prices.
Uploaded: 2023-04-04T03:47:13+00:00
Duration: 2 min 34 s
Description: OPEC has cut production. Again. OPEC has agreed on cutting 1.16 million barrels per day (bpd) of production. This is in addition to 2 million OPEC had previously agreed on and 500k that Russia had cut

1 year ago

OPEC oil prices OPEC Production Cuts

OPEC has cut production. Again. OPEC has agreed on cutting 1.16 million barrels per day (bpd) of production. This is in addition to 2 million OPEC had previously agreed on and 500k that Russia had cut. This represents 3.66 million barrels per day or around 3.7% of global oil demand. The clear motivation is price support.

#OPEC #Oil

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