News list for "Production cut plan"
The global trade situation continues to be tense, and Powell refuses to rescue the market! The golden day skyrocketed by more than 100 dollars to a new high; the US Treasury put pressure on Iranian oil again, and OPEC received eight compensatory production reduction plans... What major events happened around the world yesterday and this morning?
The OPEC + representative said that OPEC + decided to extend the collective production reduction plan of 2 million barrels per day by one year until the end of 2026.
On May 2, OPEC + has not yet started formal talks on extending the voluntary production cut of 2.20 million barrels per day beyond June, but three sources from OPEC + voluntary production reduction countries said they may extend the production cut plan if demand fails to pick up. The voluntary production cut agreement of some OPEC + members 2.20 million barrels per day expires at the end of June. Conflict in the Middle East has provided support for oil prices this year, but concerns about econom...
