opec latest news

if (isOneTrustAnyBlocked()) { script.setAttribute("async", true); While the globe is … })(); News: 1. } !e;this.xhrGuids&&!this.xhrGuids[n]&&(this.xhrGuids[n]=!0,this.totalCbs+=1)}),f.on("xhr-load-removed",function(t,e){var n=""+p(t)+! The world's biggest oil producers are under pressure to cut output as crude prices slump. Sign up for free newsletters and get more CNBC delivered to your inbox. mps._queue.mpsinit = mps._queue.mpsinit || []; (function() { return false; mps._adsheld = []; var _qs = window.location.href; mps.__timer = Date.now ? Oil prices crashed in Asia on Monday by around 30% in what analysts are calling the start of a price war. document.addEventListener("DOMContentLoaded", function(event) { 'cag[type_franchise]' : 'International Organizations' , var slotid = "mps-getad-" + adunit.replace(/\W/g, ""); mps.scodePath="//fm.cnbc.com/applications/cnbc.com/staticcontent/scripts/omniture/s_code.js?v=1.6.4.1"; OPEC and allies agree to historic oil production cut “This is at least a temporary relief for the energy industry and for the global economy,” analysi Per Magnus Nysveen said. ;NREUM.info={beacon:"bam.nr-data.net",errorBeacon:"bam.nr-data.net",licenseKey:"356631dc7f",applicationID:"230538944",sa:1} Oil and gas prices jumped on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) and allied producers said on Thursday that they would extend production cutsinto April. Goldman Sachs sees demand rebounding by March, with the arrival of warmer weather and increased vaccinations. Oil producers are working to coordinate a supply cut in an effort to stabilise plunging energy prices. }); } }; "":"no-")+"fn-start",[f.now(),r,o],n),o)try{return e.apply(this,arguments)}catch(t){throw c.emit("fn-err",[arguments,this,t],n),t}finally{c.emit("fn-end",[f.now()],n)}}}};a("actionText,setName,setAttribute,save,ignore,onEnd,getContext,end,get".split(","),function(t,e){h[e]=o(l+e)}),newrelic.noticeError=function(t,e){"string"==typeof t&&(t=new Error(t)),i("err",[t,f.now(),!1,e])}},{}],18:[function(t,e,n){e.exports=function(t){if("string"==typeof t&&t.length)return t.length;if("object"==typeof t){if("undefined"!=typeof ArrayBuffer&&t instanceof ArrayBuffer&&t.byteLength)return t.byteLength;if("undefined"!=typeof Blob&&t instanceof Blob&&t.size)return t.size;if(! window.location.href = `/opt-in-check?pub_referrer=${encodeURIComponent(url)}`; mps._ext = mps._ext || {}; console.log('PUB-GDPR-CHECK'); }, mpsopts = { BBC World Service economics correspondent. 'cag[configuration_franchise]' : 'International Organizations' , 'adunits' : 'Top Banner|Badge A|Badge B|Badge C|Badge D|Flex Ad First|Box Ad 1|Non Iframe Custom|Inline Custom|Movable Box Ad|Responsive Rectangle' , mps._queue.refreshads = mps._queue.refreshads || []; (t&&t instanceof Function&&t.apply&&!t[a])}var o=t("ee"),i=t(22),a="nr@original",s=Object.prototype.hasOwnProperty,c=!1;e.exports=function(t,e){function n(t,e,n,o){function nrWrapper(){var r,a,s,c;try{a=this,r=i(arguments),s="function"==typeof n?n(r,a):n||{}}catch(f){p([f,"",[r,a,o],s])}u(e+"start",[r,a,o],s);try{return c=t.apply(a,r)}catch(d){throw u(e+"err",[r,a,d],s),d}finally{u(e+"end",[r,a,c],s)}}return r(t)?t:(e||(e=""),nrWrapper[a]=t,d(t,nrWrapper),nrWrapper)}function f(t,e,o,i){o||(o="");var a,s,c,f="-"===o.charAt(0);for(c=0;c=3? Top oil exporter Saudi Arabia slashed its oil prices at the weekend after it failed to convince Russia on Friday to back sharp production cuts. ... Opec ministers are meeting this week amid signs of … STRICTLY_NECESSARY: 1, The closely-watched oil market report comes as coronavirus cases continue to surge worldwide, with new lockdowns imposed in Europe and parts of China. const OneTrustCategories = { return false; Bloomberg reports that the government may rely on its £114bn wealth fund to buy and prop up the price of the ruble, after the breakdown in talks with Opec triggered a price war. .filter(categoryPreference => !categoryPreference.includes('0_') && categoryPreference.includes(':0')) el.parentNode.insertBefore(s, el); if (!oneTrustCookie) return true; const COOKIE_REGEX = /groups=([^&]*)/; return true; The two major crude producers had been scheduled to hold talks on Monday but meeting has been delayed. mps._queue = mps._queue || {}; Cartel increases its forecasts for global oil demand global economic growth in latest monthly report OPEC pointed to the uncertainty facing the oil market in the coming months in its report. ... 3/10/2021 Track the latest news… Richard Gorry of JBC Energy Asia explains why he doesn't expect any sustained upward move in oil prices, describing it as a "bearish story". {key:e[2],parent:a(e[1],window)}:{key:t,parent:window}}var c=t("ee").get("jsonp"),f=t(24)(c);if(e.exports=c,o()){var u=/[?&](?:callback|cb)=([^&#]+)/,d=/(.*)\.([^.]+)/,p=/^(\w+)(\.|$)(. The benchmark Brent oil futures plunged to a low of $31.02 a barrel on Monday, in volatile energy markets. Our news analysis covers Fossil fuels, alternative energy and environmental developments. if (typeof mps.getAd != "function") mps.getAd = function(adunit) { mps._queue.gptloaded = mps._queue.gptloaded || []; DoC JTC discusses oil market developments more; 3. function isOneTrustAnyBlocked() { (l[h]("DOMContentLoaded",i,!1),p[h]("load",r,!1)):(l[m]("onreadystatechange",o),p[m]("onload",r)),c("mark",["firstbyte",s],null,"api");var E=0,O=t(23)},{}]},{},["loader",2,15,5,3,4]); Crude oil prices could be at risk of a near-term pullback as OPEC trims second-quarter demand estimates, while gold may extend gains on a softer-than-expected US PPI report. We want to hear from you. } Dan Yergin, vice chairman of IHS Markit, says shale oil producers are consolidating and becoming more confident, but will not rush to increase production. const EEA_REGION_COUNTRY_CODES = ['AT', 'BE', 'BG', 'HR', 'CY', 'CZ', 'DK', 'EE', 'FI', 'FR', 'DE', 'GR', 'HU', 'IS', 'IE', 'IT', 'LV', 'LI', 'LT', 'LU', 'MT', 'NL', 'NO', 'PL', 'PT', 'RO', 'SK', 'SI', 'ES', 'SE', 'CH', 'TR', 'GB']; } if (typeof adunit != "string") return false; At their last meeting in July, OPEC and partners agreed to an extension of nine months. TARGETED_ADS: 4, mps._queue.adview = mps._queue.adview || []; Global Business and Financial News, Stock Quotes, and Market Data and Analysis. mps._queue.mpsinit.push(function() { 'hline' : 'International Organizations' , //begin OneTrust Redirect JTD Energy Services' John Driscoll discusses whether oil at $70 a barrel is sustainable and what OPEC's exit strategy looks like. } script.setAttribute("onerror", "setAdblockerCookie(true);"); ... OPEC and the other oil-producing countries agreed to cut about 10 … let cEnd = document.cookie.indexOf(';', cStart); Neil Beveridge of Bernstein says there are "very optimistic signs" for oil demand given the vaccine rollout, but the pick up is likely to happen from the third quarter onwards.

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