Live Breaking News & Updates on 0pec plus

Stay informed with the latest breaking news from 0pec plus on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in 0pec plus and stay connected to the pulse of your community

BBC News

again which british business really needs. and i did speak today to a lot of these companies that terminated their ties with them and they said look, if this quote to the right way and the cbi has a fresh start, will they look to be getting back involved? they've been very tight—lipped. back involved? they've been very tight-tipped-_ back involved? they've been very tight-tipped-— tight-lipped. mark, interesting. thank you- _ ministers from 0pec plus, a big group of oil producers that includes russia, saudi arabia and others, have agreed a cut in oil production of 1.4 million barrels per day. it will lead higher prices at the pump. they've also agreed to change shift a portion of some members' quotas to other members. and saudi arabia has agreed to an ongoing volutary cut in its own production of 500,000 barrels per day. together 0pec plus delivers about 40% of global oil production, meaning its decisions can have huge influence on the market.

Nova-for-the-cbi , Business , Lot , Uk , Companies , Ties , Quote , Look , Oil-producers , Group , Russian , 0pec-plus

Asia Business Report

is still depending on exports so if that is facing a recession, there is still that impact on china. so, it is demand driven. but having said that, i don't think... we never saw $100. we do see that going forward. but having said that, i don't think, for the argus consulting team, we never saw $100. we do see that going forward. in the second half of this year. assuming 0pec plus, and that includes russia, delivers on the output cuts that they had announced in early april, we do see that the market should become tighter, in terms of supply and that we should be moving towards the sort of $80 or low 80 in the second half of 2023. so, inching higher but not going up to a hundred. i don't think we ever saw $100, not in the short term. now to pakistan which has cut

Demand , China , Impact , Recession , Exports , I-don-t-think , 00 , 100 , Half , Output-cuts , The-argus , 0pec-plus

Asia Business Report

is still depending on exports so if that is facing a recession, there is still that impact on china. so, it is demand driven. but having said that, i don't think, for the argus consulting team, we never saw $100. we do see that going forward. in the second half of this year. assuming 0pec plus, and that includes russia, delivers on the output cuts that they had announced in early april, we do see that the market should become tighter, in terms of supply and that we should be moving towards the sort of $80 or low 80 in the second half of 2023. so, inching higher but not going up to a hundred. i don't think we ever saw $100, not in the short term. azlin ahmad speaking to me a little earlier. now to pakistan which has cut its gdp growth estimate for the fiscal year ending injune to what is reported to be one of

Demand , China , The-argus , Impact , Exports , Recession , Don-t-think , 00 , 100 , Half , Russia , Output-cuts

BBC News

supposed to have a formal meeting to disconduct production, this happens every month involving 23 members, which includes saudi arabia, russia, the uae, so the fact this announcement was made the day before is something that has come as a surprise, and what interesting it is not a decision taken by group which is 0pec plus, these are voluntary cuts made by the individual country, as we were mentioning it amounts to one million barrels a day which translates to almost 1.6 percent of daily global supplies, now we are in a scenario where the global economy is under pressure, the coyle is rising, this could lead to oil prices going up further, which will put more pressure on inflation and worsen the cost of living crisis. yes, so, it has a lot of potential fall out, hasn't it. what is going to happen at the meeting, tomorrow,

Meeting , Production , Russia , Announcement , Something , Saudi-arabia , Members , Fact , Uae , 23 , Surprise , Country

BBC News

value british nationals were released from afghanistan, the uk, for example, said that we do not support any militariry resistance against the taliban. the only solution to — the solution, the only solution to the afghan conflict is through negotiations, so probably some sort of concession will be made this time as well. several of the world's largest oil exporters have announced cuts in production amounting to more than a million barrels per day. the announcements by saudi arabia, iraq and several gulf states come amid fears of a global economic slowdown reducing demand for oil. i'm joined now by our middle east business correspondent, sameer hashmi. hi, good to see you, this announcement seems to have come as a surprise to analyst, tell us what they have said?— surprise to analyst, tell us what they have said? surprise to analyst, tell us what the have said? , ., , ., , they have said? yes, it has come as a hue they have said? yes, it has come as a huge surprise. _ they have said? yes, it has come as a huge surprise, because _ they have said? yes, it has come as a huge surprise, because on - they have said? yes, it has come as i a huge surprise, because on monday, 0pec plus, the oil cartel was

Taliban-in-afghanistan , British , Resistance , Solution , Nationals , Afghan , Example , Militariry , Negotiations , Sort , Concession , Conflict

BBC News

be negotiating with these parties any how. thank you very much for being with us from helsinki.— several of the world's largest oil exporters have announced cuts in production amounting to more than a million barrels per day. the announcements by saudi arabia, iraq and several gulf states come amid fears of a global economic slowdown reducing demand for oil. earlier i spoke to bbc middle east business correspondent sameer hashmi, and asked him how much of a surprise the decision was. it has come as a huge surprise, because on monday, 0pec plus, the oil cartel, was supposed to have a formal meeting to discuss productions. this happens every month, involving 23 members, which includes saudi arabia, russia, the uae. so the fact this announcement was made just a day before is something that has come as a surprise, and what is interesting it is not a decision taken by group, which is 0pec plus, these are voluntary cuts made by the individual countries.

Oil-exporters , United-states , Several , Negotiating , The-world , Helsinki- , Cuts , Surprise , Bbc-news , Production , Saudi-arabia , Oil

BBC News

members which includes saudi arabia, russia and the uae, so the fact that this announcement was made yesterday before is something that has come as a surprise, and what is interesting is it is not a decision taken by the group which is 0pec plus, these are voluntary cuts that have been made by the countries, and as we were mentioning, this amounts to 1 million barrels of oil per day, which, in a sense, translates to almost 1.6% of daily global supplies. we are in a scenario where the global economy is under pressure, the cost of living is rising, and what is going to happen now is this could lead to oil prices go now is this could lead to oil prices 9° up now is this could lead to oil prices go up further, which will put more pressure on inflation and worsen the cost of living crisis.— cost of living crisis. yes, so, it has a lot _ cost of living crisis. yes, so, it has a lot of— cost of living crisis. yes, so, it has a lot of potential - cost of living crisis. yes, so, it has a lot of potential fallout, l has a lot of potential fallout, hasn't it? what is going to happen at the meeting tomorrow if these countries have made this decision unilaterally? so countries have made this decision unilaterally?— unilaterally? so far we have seen six or seven _ unilaterally? so far we have seen six or seven countries _ unilaterally? so far we have seen six or seven countries that - unilaterally? so far we have seen six or seven countries that have i six or seven countries that have announced, these have done this

Social-network-popular-in-russia , Something , Cuts , Group , Decision , Surprise , Saudi-arabia , Announcement , Fact , Members , 0pec-plus , Uae

World Business Report

about an hour. the reopening of china, the world's biggest energy consumer, has raised the prospects of higher oil demand. but opec, the group that accounts for 40% of the world's oil supply, says it has no plans to increase the rate of production. in fact, russia announced last week it would be cutting production from next month. in an exclusive interview, the bbc�*s sameer hashmi spoke to the uae's energy minister, and began by asking him if his country was prepared to step up. we have all collaborated with almost all the agencies that are looking at the market. and we are then making the calculations. if there is a requirement, we will see it. this requirement, we will see it. as o ec requirement, we will see it. as 0pec plus, given we are seeing signs that demand is going up,

World , Plans , Opec , Oil-supply , Energy-consumer , Oil-demand , Prospects , China , Reopening , 40 , Country , Production

World Business Report

one of the key members has slashed supplies, isn't it now imminent that 0pec plus will have to step up supplies? i have to step up supplies? 1 don't see a requirement have to step up supplies? i don't see a requirement right now. right now we are seeing a balance. the last meeting that we held. every month, though, we held. every month, though, we are looking at the market. if there is a requirement, trust me, we will see it, and we will do our best. but we need to remember, this group, even with the 23 countries, they are only responsible, only producing less than 40% of the world supply, so also it's not fairjust world supply, so also it's not fair just to world supply, so also it's not fairjust to ask them for balancing 100% of the market. is it time to ask for a higher target and quota considering russia have slashed production and other countries are struggling to meet their existing targets?- struggling to meet their existing targets? struggling to meet their existin: tariets? ., existing targets? look, we are in a deal for — existing targets? look, we are in a deal for this _ existing targets? look, we are in a deal for this year - existing targets? look, we are in a deal for this year and - in a deal for this year and that deal has been committed. all of the countries have

It , Supplies , Trust-me , Balance , One , Don-t , Members , Isn-t , Meeting , 0pec-plus , 1 , 0

World Business Report

a more significant effect because europe is still importing quite a bit of russian gas and oil. before you io, russian gas and oil. before you no, what russian gas and oil. before you go. what is _ russian gas and oil. before you go. what is your— russian gas and oil. before you go, what is your outlook - russian gas and oil. before you go, what is your outlook for - go, what is your outlook for oil prices this year? brent is trading just below 80, what are your thoughts? trading just below 80, what are yourthoughts? i trading just below 80, what are your thoughts? i think there is more downward pressure on price in terms of concern about china economics, covid and the potential of regional or global recessions.— recessions. there is more downward _ recessions. there is more downward pressure - recessions. there is more downward pressure on - recessions. there is more l downward pressure on price recessions. there is more - downward pressure on price but what we know is that 0pec plus, that alliance of producers are willing to cut supply to support price and they are already intentionally cutting supply by around 2 million barrels per day so it is likely that if the price fell further they would step in again. thank you. good to see you. let's get some of the day's other news. thailand will require international travellers to show proof they are fully vaccinated for covid before flying to the country,

Bit , Oil , Gas , Europe , Russian , Outlook , Thoughts , Oil-prices , Effect , Brent , You-io , 80