Boosting oil prices: what will be the next move by the OPEC+?

Apart from incurring the wrath of the US, the OPEC+ does not seem to have achieved any substantial financial benefit from its much-trumpeted production cut announced on October 5, in response to the falling oil prices for a few weeks before it. Although the production cut grabbed the headlines with …

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Is there an ideal oil price that safeguards interests of consumers and producers?

As the oil price did not go up the way the OPEC+ expected, apart from temporarily being on the crosshairs of the US, analysts believe only a strategy of maintaining a price, ranging from $70 - $80  barrel, could  be the pragmatic approach.  A move of that kind, they believe, safeguard the interests of…

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Will the US go for nuclear option over the OPEC+ production cuts?

With the US midterm election just 3 weeks away, the Biden administration is clearly taking the scenario of fuel price hikes seriously - in the wake of the decision made by the OPEC+ to cut down on the production in order to boost the prices. Although the decision appears to be collective on the surf…

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Static Oil Prices: OPEC+ move failed to do the trick!

The cut in crude oil output, agreed by the OPEC+ a few days ago, does not appear to be doing the trick as far as the price is concerned. On the contrary, the price, at best has been static and at worst,  falling for two consecutive days since the announcement was made a few days earlier, as the hull…

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US-Saudi relations suffered a huge setback after oil production cuts

Judging by the reaction on impulse, the production cuts announced by the OPEC+ on Wednesday, has clearly left the Biden administration of the US between the rock and a hard place. Not only did the US say that the decision was short-sighted, but also branded the move as 'the alignment of the OPEC…

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OPEC+ Meeting: oil price rises as production is cut by 1.1 million barrels

The price of crude oil has been rising in the markets on Wednesday in anticipation of a production cut by the OPEC+ during its monthly meeting in Vienna, Austria. Some ministers of the OPEC+ were seen arriving for the meeting in the morning, including the members representing Nigeria, Russia and Sau…

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