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Platts Survey: OPEC+ Oil Output Slumps To Two-Year Low

The members of the OPEC+ group saw their collective oil production slump to the lowest level in nearly two years in July after Saudi Arabia began its unilateral output cut of 1 million barrels per day ....

Saudi Arabia , Charles Kennedy , Oil Production , Utput Cuts , Oil Prices ,

MSNBC Chris Jansing Reports June 4, 2024 18:36:00

Life, you re right on a lot of other things. but if you re wrong, you re going to be wrong on a lot of other things as well. you have a lot of candidates that dodge the issue. and dodging the issue demonstrates nuance, like what do you believe, and anytime you leave lingering questions, especially on foundational issues, that s a problem for you as a candidate. one candidate that vander platts believes is leaving lingering questions is former president trump who is not here today to give these voters any clarity, but again, that tension between primary and general voters here certainly want a very staunchly anti-abortion candidate, but that s not necessarily where a lot of the country s at, chris. jennifer, our first read suggests that may be why trump isn t there. you have the governor signing this hard line abortion bill, and donald trump wants to be able to walk that line, and appeal to moderate voters and ....

President Trump , Donald Trump , Jennifer Horn , Hard Line Abortion Bill , Trump Isn T There ,

BBCNEWS BBC News June 4, 2024 21:10:00

At rising interest rates and a look at the effect that will have on the demand. they ve also seen deteriorating oil prices for some time now. they came slightly up as people started thinking that the cuts might be extended. so that s why they took the cuts. it s a preventative measure for what they see as a weak economy. yes, and they ve also decided to move production, haven t they, from some countries to others? why, and who is going to impact? well, i think what they ve done is two things. one, they have seen that there were some countries who are just not able for some time to fulfil the quotas. when you look at where the quota was and how much was actually produced, there was an underperformance of more than 2 million barrels a day. so they have shifted from the countries that could not produce to give a little bit more to some countries that could produce. they ve done another thing. they ve now taken three independent sources, such as platts, ....

Oil Prices , Interest Rates , Haven T , Preventative Measure , 2 Million , Wood Mackenzie ,

BBCNEWS BBC News June 4, 2024 19:11:00

Done is two things. one, they have seen their s some countries who just were not able for some time to fulfil the quotas. when you look at where the quota was and how much was actually produced, there was an underperformance of more than 2 million barrels a day, so they ve shifted from the countries that could not produce to give a little bit more to some countries that could produce. they ve done another thing. they ve now taken three independent sources, such as platts, such as wood mackenzie, to verify what the production is, so there is more transparency. so this is all intended to increase transparency in oil markets because they see that is actually quite important to determine, you know, what the right production level is. opec+ controls 40% of the oil output but western nations have accused them of manipulating prices, ....

Isn T One , 2 Million , Wood Mackenzie , Oil Markets , Production Level , Oil Output ,