Brent crude oil found support yesterday post-OPEC+ but swiftly retraced soon after as the U.S. dollar remained buoyant. Get your market update from WVenketas here:
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OPEC+ makes small trim to world oil supplies as prices fallOPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to global economy Monday, underlining their unhappiness as recession fears help drive down crude prices — along with the cost of gasoline, to drivers’ delight.
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OPEC Output Cut Is Mostly a ‘Political Snub' and Sends Symbolic Message, Analysts SayOPEC ’s decision to implement a small production output cut is more of a political statement and symbolic message sent by the alliance, said two analysts.
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Oil Producer Group OPEC Surprises Energy Markets With a Small Production CutEnergy analysts had broadly expected the group to stay the course with its production policy.
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OPEC+ cuts oil supplies to the world as prices fallOPEC and allied oil-producing countries, including Russia, have cut their supplies to the global economy by 100,000 barrels per day, underlining their unhappiness with crude prices that have sagged because of recession fears.
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OPEC+ JMMC recommends cutting oil output targets by 100K bpd in October – ReutersJoint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries and allies including Russia, known collectively
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OPEC+ cuts global oil supplies, reversing September increaseOPEC+ announced a plan to cut supplies to the global economy by 100,000 barrels per day next month, which reverses their September increase by the same amount.
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