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The Organization of the Petroleum Exporting Countries (OPEC) and its non-member allies (OPEC+) cut crude oil production by two million barrels per day. Naturally, this action imposes supply flow ...
For more stocks, head on over to 5 Energy Stocks To Buy On the OPEC Production Cuts. The decision by OPEC+ to cut oil output earlier this month has become a source of friction between […]
Chevron (NYSE:CVX) is usually seen as the little brother to Exxon Mobil (NYSE:XOM) in the oil patch.Source: JL IMAGES / Shutterstock.com But just as Target (NYSE:TGT) is outperforming its big ...
OPEC+ faces a major oil oversupply in 2025, challenging production increases. The coalition has tried to boost oil prices by holding back output. Instead, members are ceding control to non-OPEC ...
If one OPEC member demanded too much from the oil companies, then the oil companies could slow down production in that country and ramp up production elsewhere. [46] The 50/50 agreements were still in place until 1970 when Libya negotiated a 58/42 agreement with the oil company Occidental , which prompted other OPEC members to request better ...
In 2011 a U.S. District Court case involving two class actions was brought by private gasoline retailers against oil production companies most of which were owned in whole or in part by OPEC member nations (Citgo and the Venezuelan State Oil Company ), alleging antitrust violations. As has been the case since first introduced, public discord on ...
November: Iranian oil production starts dropping. December: Iranian production hits 1.5 Mbbl/d (240,000 m 3 /d) in mid-December; 500,000 on December 27, a 27-year low. OPEC production rises 1.6 MMBD over two months due to increased Saudi production. December 17: OPEC decides on a 14.5 percent price increase for 1979, to be implemented quarterly.
If you're on the lookout for a few more of the companies that have OPEC worried, as well as those that will profit from $100 oil, check out The Motley Fool's "3 Stocks for $100 Oil".