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1 week ago | 
financialpost.com | Grant Smith |Nayla Razzouk
Skip to ContentAdvertisement 1As Saudi Arabia’s Prince Abdulaziz bin Salman addressed his OPEC+ counterparts on a video call to ratify the group’s second huge supply increase in as many months, he invoked a surprising historical precedent: the 1973 oil embargo imposed by major OPEC nations that sent crude prices soaring.
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1 week ago | 
bloomberg.com | Grant Smith |Nayla Razzouk
Prince Abdulaziz bin Salman(Bloomberg) -- As Saudi Arabia’s Prince Abdulaziz bin Salman addressed his OPEC+ counterparts on a video call to ratify the group’s second huge supply increase in as many months, he invoked a surprising historical precedent: the 1973 oil embargo imposed by major OPEC nations that sent crude prices soaring.
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1 week ago | 
bloomberg.com | Grant Smith |Nayla Razzouk
A young male motorcyclist, seen through a vehicle window, performs a 'wheelie' while riding a Suzuki motorcycle through traffic on a highway in Riyadh, Saudi Arabia, on Tuesday, Nov. 29, 2016. Saudi Arabia is working to reduce the the Middle East’s biggest economy’s reliance on oil, which provides three-quarters of government revenue, as part of a plan for the biggest economic shakeup since the country’s founding.
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1 week ago | 
financialpost.com | Grant Smith |Nayla Razzouk
Article content(Bloomberg) — Key OPEC+ nations are discussing making another production increase of roughly 400,000 barrels a day in June ahead of a video-conference to set policy on Saturday, delegates said. Sign In or Create an AccountArticle contentWe apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team.
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1 week ago | 
bloomberg.com | Grant Smith |Nayla Razzouk
Los principales países de la OPEP+ están debatiendo la posibilidad de realizar otro aumento de la producción de aproximadamente 400.000 barriles diarios en junio, antes de la videoconferencia del sábado en la que se fijará la política, según informaron los delegados.
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1 week ago | 
bloomberg.com | Grant Smith |Nayla Razzouk
(Bloomberg) -- Key OPEC+ nations are discussing making another production increase of roughly 400,000 barrels a day in June ahead of a video-conference to set policy on Saturday, delegates said. The group led by Saudi Arabia and Russia stunned oil traders with a 411,000 barrel-a-day hike that was triple the amount originally planned for May, in an apparent bid to discipline its over-producing members.
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1 week ago | 
finance.yahoo.com | Yongchang Chin |Grant Smith
Unlock stock picks and a broker-level newsfeed that powers Wall Street. Yongchang Chin and Grant Smith Fri, May 2, 2025, 2:39 AM 2 min read (Bloomberg) -- Oil headed for a second successive weekly loss as traders weighed signs of a thaw in the US-China trade war and President Donald Trump’s threats toward Iran against the prospect of more supply from the OPEC+ alliance.
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1 week ago | 
rigzone.com | Grant Smith |Julian Lee |Bill Lehane
OPEC’s crude production fell last month despite the group’s long-awaited plans to increase, with much of the reduction stemming from looming US sanctions on Venezuela.
Output from the Organization of the Petroleum Exporting Countries shrank by 200,000 barrels a day in April to 27.24 million a day, according to a Bloomberg survey. Venezuela accounted for about half of the decline as international producers such as Chevron Corp.
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1 week ago | 
financialpost.com | Grant Smith |Julian Lee |Bill Lehane
Article content(Bloomberg) — OPEC’s crude production fell last month despite the group’s long-awaited plans to increase, with much of the reduction stemming from looming US sanctions on Venezuela. Sign In or Create an AccountArticle contentWe apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team.
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1 week ago | 
bloomberg.com | Grant Smith |Julian Lee |Bill Lehane
Workers perform maintenance on an oil pumping unit at an oilfield in Akkystau village, Kazakhstan. (Bloomberg) -- OPEC’s crude production fell last month despite the group’s long-awaited plans to increase, with much of the reduction stemming from looming US sanctions on Venezuela. Output from the Organization of the Petroleum Exporting Countries shrank by 200,000 barrels a day in April to 27.24 million a day, according to a Bloomberg survey.
