OPEC+ keeps steady policy amid weakening economy, Russian oil cap - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies including Russia, angered the United States and other Western nations in October when it agreed to cut output by 2 million barrels per day , about 2% of world demand, from November until the end of 2023.

OPEC+ argued it had cut output because of a weaker economic outlook. Oil prices have declined since October due to slower Chinese and global growth and higher interest rates, prompting market speculation the group could cut output again. On Friday, G7 nations and Australia agreed a $60 per barrel price cap on Russian seaborne crude oil in a move to deprive President Vladimir Putin of revenue while keeping Russian oil flowing to global markets.Many analysts and OPEC ministers have said the price cap is confusing and probably inefficient as Moscow has been selling most of its oil to countries like China and India, which have refused to condemn the war in Ukraine.

Source: News Formal (newsformal.com)

you are in this wonderful platform it is real don't be afraid to invest try and get started now thank you very much Mrs TrevorCarlson0 thank God for everything and for making this successful,TrevorCarlson0 thank you so much i will always appreciate you for what you have done

I saw several people testifying of making so much money with the help of antonhendrikfx0 on Bitcoin option trade and I decided to give it a try and now I'm glad now he helped me and my colleagues to make R150k in one week, thank you antonhendrikfx0 for transparency and trust.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Opec keeps output unchanged but ready to act as Russia oil embargo nearsEU sanctions on crude exports from Russia come into effect on Monday, after the US, Europe and the G7 agreed to cap the price of Russia’s oil exports
Source: BDliveSA - 🏆 12. / 63 Read more »

Opec+ likely to maintain oil output levelsMajor oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting on Sunday.
Source: eNCA - 🏆 49. / 51 Read more »

Sunday roast: Garlic roasted lamb rack with rich butter sauce | The CitizenThis Sunday serve your garlic roasted lamb rack with either oven-roasted potatoes, or vegetables accompanied by the rich butter sauce.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Oil prices may hit $110 a barrel, but Russia risk could 'turbocharge' them even higher | Business InsiderBrent crude oil could climb as high as $110 per barrel in 2023, though there are several risks that could add more pressure on prices, according to a note from Bank of America. | BISouthAfrica BISouthAfrica We should use our own African oil from Nigeria or which has to sell to our own countries. Cut off EU and west countries making us depended on them. We are a rich mineral and natural gas countries.
Source: News24 - 🏆 4. / 80 Read more »

South Africa's ruling ANC to meet on Sunday to discuss president's fateSouth Africa's African National Congress will meet on Sunday, it said on Saturday, to continue a meeting it halted midway on Friday to discuss the future of President Cyril Ramaphosa who has been suspected of misconduct. Governing, not 'ruling'. ANC NEC will meet on Monday to affirm their support for CyrilRamaphosa who breaks the laws of this country because he is untouchable. MYANC is a curse in South Africa exile....
Source: ReutersAfrica - 🏆 31. / 53 Read more »