OPEC+ announces 50 percent increase in oil output for July and August
       |           

Welcome, Guest. Please login or register.
Did you miss your activation email?
April 20, 2024, 08:15:06 AM
News: Election Simulator 2.0 Released. Senate/Gubernatorial maps, proportional electoral votes, and more - Read more

  Talk Elections
  General Politics
  Economics (Moderator: Torie)
  OPEC+ announces 50 percent increase in oil output for July and August
« previous next »
Pages: [1]
Author Topic: OPEC+ announces 50 percent increase in oil output for July and August  (Read 680 times)
FT-02 Senator A.F.E. 🇵🇸🤝🇺🇸🤝🇺🇦
AverageFoodEnthusiast
Junior Chimp
*****
Posts: 5,297
Virgin Islands, U.S.


WWW Show only this user's posts in this thread
« on: June 02, 2022, 07:17:36 PM »
« edited: June 02, 2022, 07:21:43 PM by Interm Senator A.F.E. 🇺🇸🤝🇺🇦 »

Quote
OPEC+ nations on Thursday agreed to increase oil output by about 50 percent for the next two months after initially standing by a 400,000-barrel release.

Ministers announced an agreement to increase output in July and August by 648,000 barrels a day in July and August. 

Gas prices in the U.S. saw another spike heading into the Memorial Day holiday, while across the Atlantic, European Union members reached an agreement on banning Russian oil imports in response to the country’s invasion of Ukraine. As recently as earlier Thursday morning, U.S. prices hit another record average high of $4.71 a gallon.

The move represents a reversal after the oil-producing nations had previously refused to budge on output, even after oil prices soared following Russia’s invasion of Ukraine. On May 5, its second most recent meeting, OPEC+ announced it would stick to the 400,000-barrel figure in the wake of the initial EU sanction announcements...

https://thehill.com/policy/energy-environment/3509324-opec-announces-50-percent-increase-in-oil-output-for-july-and-august/
Logged
Benjamin Frank
Frank
Junior Chimp
*****
Posts: 7,069


Show only this user's posts in this thread
« Reply #1 on: June 07, 2022, 02:47:40 AM »

I think it's very unlikely they'll be able to increase production that much in that short a time.
Logged
Pages: [1]  
« previous next »
Jump to:  


Login with username, password and session length

Terms of Service - DMCA Agent and Policy - Privacy Policy and Cookies

Powered by SMF 1.1.21 | SMF © 2015, Simple Machines

Page created in 0.027 seconds with 11 queries.