Organization of the Petroleum Exporting Countries – Page 12

Oil Prices Jump After Surprise OPEC Production Cut

Adding to global economic uncertainties, oil prices rose about 5 percent on Monday after Saudi Arabia and other major producers announced a surprise cut in crude production.

By Stanley Reed

Coronavirus (2019-nCoV) International Trade and World Market Oil (Petroleum) and Gasoline Organization of the Petroleum Exporting Countries Prices (Fares, Fees and Rates) Russia Russian Invasion of Ukraine (2022) Saudi Arabia Saudi Aramco

In Surprise, OPEC Plus Announces Cut in Oil Production

Oil prices soared 7 percent on Sunday night after the group’s move to cut 1.2 million barrels a day.

By Clifford Krauss

Coronavirus (2019-nCoV) International Trade and World Market Oil (Petroleum) and Gasoline Organization of the Petroleum Exporting Countries Prices (Fares, Fees and Rates) Russia Russian Invasion of Ukraine (2022) Saudi Arabia Saudi Aramco

In Surprise, OPEC Plus Announces Cut in Oil Production

The move is an apparent effort to boost prices. Still, its significance may be slight, especially if the global economy slows.

By Clifford Krauss

Embargoes and Sanctions Group of Seven Oil (Petroleum) and Gasoline Organization of the Petroleum Exporting Countries Russia Russian Invasion of Ukraine (2022) Ships and Shipping

EU Embargo of Russian Oil and G7’s Price Cap Take Effect

An immediate impact on oil supplies in Europe was not expected, partly because the embargo has been in the works for months.

By Stanley Reed