OPEC+ production cuts are coordinated reductions or adjustments to crude-oil production targets agreed by OPEC's members and non-OPEC producers, principally Ru…
OPEC agrees to cut 1.2 mb/d (30 Nov); 11 non-OPEC producers led by Russia add 558,000 b/d (10 Dec) — the founding of OPEC+.
After Covid-19 collapsed demand and the expiring WTI May futures contract settled at -$37.63 on 20 April, OPEC+ agreed its largest-ever coordinated cut, effective 1 May…
OPEC+'s deepest cut since the pandemic — but some members were already producing below their targets, so the real physical effect was smaller than the headline.
1.0 mb/d of the 2.2 mb/d headline was Saudi Arabia extending an existing cut, not new; Russia's 500,000 b/d piece was an export adjustment, not production.
The seven participating countries complete the phased rollback of ~1.65 mb/d of voluntary cuts first pledged in 2023 — an unwind of restraint, not a fresh increase in am…
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman pause the unwind. Brent trades above $108 that week anyway — driven by the Hormuz/Red Sea disruption, no…
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