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Oil jumps more than $4 as OPEC+ weighs biggest output cut since 2020
Oil prices jumped more than $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic.
OPEC+ will consider output cut of more than 1 million barrels
The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day when it meets in Vienna on Wednesday, according to delegates.
OPEC+ to meet in Vienna Wednesday for first time since 2020
The OPEC+ oil group will meet in Vienna next week for the first time since COVID curbs were introduced in 2020, the organisation said Saturday.
OPEC+ agrees small increase in oil production
The OPEC+ oil group agreed Wednesday to a small increase in production despite efforts by US President Joe Biden to secure a bigger hike in talks in Saudi Arabia last month.
OPEC+ supply gap widens in March
OPEC+ produced 1.45 million barrels per day (mbd) below its production targets in March, as Russian output began to decline following sanctions, a report from the producer alliance seen by Reuters showed.
OPEC+ wants Iran to join supply deal if sanctions lifted
OPEC+ will work to integrate Tehran into its oil supply-limiting accord if an agreement is made in the Vienna talks over reviving the Iran nuclear deal, sources close to the group said.
Iran to continue consultations with OPEC+ members: Ambassador
Iran’s Ambassador to Russia Kazem Jalali said his country will continue consultations with the OPEC+.
Oil dips below $89, eyeing faster OPEC+ hike
Oil slipped on Tuesday, staying close to a seven-year high, weighed by speculation OPEC+ could go further than expected to add supply at a meeting this week and expectations of a rise in U.S. inventories.
OPEC+ seen reviving output in sign of confidence for 2022 demand
OPEC and its allies are expected to revive more oil supplies when they meet in coming days, underscoring the group’s optimism in the outlook for global demand.
Oil rises as OPEC+ poised to act if demand weakens
Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy at short notice if oil demand collapsed due to a rising number of lockdowns, while Brent was on course for a sixth week of declines.
OPEC+ may drop plan to raise output
OPEC+ is monitoring developments around the new coronavirus variant, sources said, and is inclined to ditch its plan to raise output.
Oil falls to $84 before U.S. inventories, OPEC+ meeting
Oil fell further below $85 a barrel on Tuesday, but it was still not far from a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories and of Thursday's OPEC+ meeting.
Kuwait, Iraq back OPEC+ oil supply rise plan, despite calls for more
Kuwait and Iraq support sticking to plans to raise oil output by 400,000 barrels per day (bpd) at an OPEC+ meeting on Thursday, as the U.S. called again for extra supply to cool rising prices.
OPEC+ expected to stay the course on oil output plans
An OPEC+ committee largely stuck to forecasts of a strong demand rebound this year and next ahead of a meeting next week, at which the group is expected to rubber stamp a planned output increase of 400,000 barrels per day (bpd) in December.

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