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Keyword: opeccut

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  • Saudi Arabia will implement a voluntary cut of 500 thousand barrels per day from May till the end of 2023

    04/02/2023 8:58:21 AM PDT · by dynachrome · 27 replies
    Saudi Government ^ | 4-2-23 | Saudi government
    Ministry of Energy official stated that the Kingdom of Saudi Arabia will implement a voluntary cut of 500 thousand barrels per day from May till the end of 2023 in coordination with some other OPEC and non-OPEC Participating Countries in the Declaration of Cooperation. This voluntary cut is in addition to the reduction in production agreed at the 33rd OPEC and non-OPEC Ministerial Meeting on October 5, 2022. The Ministry of Energy official emphasized that this is a precautionary measure aimed at supporting the stability of the oil market. --SPA
  • Here Comes Pain – OPEC+ Makes Surprise Oil Production Cut Announcement, The Global Cleaving Continues

    04/02/2023 1:08:06 PM PDT · by E. Pluribus Unum · 26 replies
    Despite the fact the Western Alliance have created the policy that will deliver pain to their citizens, not a single government leader will look at this move as a bad thing.The pain will not be felt by the elites, it will only hit the citizenry. Lowered oil production outputs that drive up gasoline prices and fuel inflationary drivers, expedite the Build Back Better narrative and objective.However, that said, in context to this announcement, a pain that will hit the Western economies of the alliance represented in yellow, the last 18 months of moves by Mexico makes President Andres Manuel Lopez-Obrador...