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Tag Archives: OPEC

Oil prices jump as OPEC warns of supply risks

OPEC Secretary-General Mohammad Barkindo says prices as being driven not by fundamentals but primarily by political factors at present New York, U.S. | Xinhua | Oil prices surged on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) warned of severe supply risks if Russian oil is fully banned. The West …

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OPEC chief urges global leaders to ensure unhindered energy flow

Vienna, Austria | Xinhua | The head of the Organization of Petroleum Exporting Countries (OPEC) on Wednesday called on global leaders to uphold multilateralism to ensure “unhindered, stable and secure” energy flow to the global market. OPEC Secretary-General Mohammad Sanusi Barkindo made the remarks at a virtual meeting of the joint …

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OPEC chief warns of global oil shortage due to sanctions on Russia

Houston, U.S. | Xinhua | The head of the Organization of Petroleum Exporting Countries (OPEC) warned on Tuesday that the world cannot replace Russia’s share of oil exports, calling for energy depoliticization. “The issue at stake here is the capacity of the world to meet these perceived shortages,” OPEC Secretary General …

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OPEC to increase oil production to 400,000 barrels per day

Brazzaville, Congo | Xinhua | Republic of Congo’s Minister of Hydrocarbons Bruno Jean Richard Itoua, current chairman of the ministerial conference of the Organization of the Petroleum Exporting Countries (OPEC), announced Wednesday that OPEC will increase oil production to 400,000 barrels per day. According to Itoua, this decision is aimed at …

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Oil prices rise as OPEC+ sticks to planned output increase

New York, U.S. | Xinhua | Oil prices climbed on Tuesday after the world’s major oil producers pledged to stick to their plan to gradually boost output next month. The West Texas Intermediate for February delivery added 91 cents, or 1.2 percent, to settle at 76.99 U.S. dollars a barrel on …

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Oil prices rally as Omicron concerns ease

New York, U.S. | Xinhua | Oil prices rose on Tuesday, extending the gains they had scored in the prior session, as fears over the COVID-19 Omicron variant retreated. The West Texas Intermediate for January delivery added 2.56 U.S. dollars, or 3.7 percent, to settle at 72.05 dollars a barrel on …

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