Opec Oil Cut

“A version of this article earlier published in Foxnews” U.S. gas prices have reached a record high. My local gas station has been over $6 for some time. Congress can, and should, fix this. A global oil exporting cartel led by Saudi Arabia and Russia, known as OPEC, has driven…

On December 3rd, after four days of difficult negotiations and deep tensions, the members of the Organization of the Petroleum Exporting Countries (OPEC) and producers outside the cartel, with Russia standing out among the others, reached an agreement on the production of oil for the next year. The agreement of…

Top oil producers except Mexico agree to output cuts: OPEC — On Thursday, April 9th, the OPEC countries and their representatives hosted a virtual meeting to discuss an oil production cut agreement in response to the recent price drop. …

The OPEC+ agreement. Yesterday, April 12th, OPEC+ ministers (OPEC and non-OPEC countries) finally reached an agreement to cut production after their failed attempt last Friday, April 10th, due to Mexico’s opposition. The agreement provides for the following: Adjust downwards its overall crude oil production by 9.7 mb/d, starting on May…