U.S. oil producers have increased production, frustrating OPEC’s efforts to prop up oil prices. This time last year, cuts by OPEC helped push oil prices above $80 a barrel. American producers The production cut coincides with an ongoing rise in gas prices. The national average price for a gallon of gas stands at $3.50, which marks a 2% increase over the past week and 3% spike over the FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices. The move Wednesday could deal the struggling global What Does OPEC Do and Should We Care? By David Kemp and Peter Van Doren. The Hamas attack on Israel last month occurred one day after the 50‐ year anniversary of the start of the 1973 Yom Kippur Throughout its history, OPEC has used production quotas to help keep oil prices stable. As global demand fluctuated, OPEC would alter the amount of oil produced to keep price changes in check. The Aruni Soni. Getty. No matter how much OPEC cuts oil output, other countries will "fill the hole," a senior equity trader said. A surge of supply from non-OPEC nations like US, Brazil, and Guyana DCMkIP. What OPEC's 2 million-barrel cut could mean for U.S. gas prices. OPEC+ is jolting oil markets this week with plans to cut output — and the ripples could reach all the way to the U.S. midterm elections. Driving the news: The coalition of OPEC, Russia and allied producers on Wednesday announced cuts of 2 million barrels per day in Vienna The Live-Streaming facility is offered on OPEC website for the official meetings of the Organization and other related events. Live-Streams make it possible for you to follow up live press conferences, opening sessions, interviews, etc. on your computer’s screen and mobile devices. Technical requirements: Users will need a broadband Approximately 69% came from the top ten countries, and an overlapping 38% came from the thirteen current OPEC members, in the table below. Members of OPEC+, which includes current OPEC members produce 58% of the world's petroleum. In recent history, the top three producers have been the United States, Russia, and Saudi Arabia. We’re seeing it today. The surprise weekend announcement by the OPEC+ grouping of more than 1.1 million barrels of production cuts, on top of the 500,000 daily barrels already declared by Russia Source: Getty. As of Nov. 15, OpEx week is here again. OpEx means options expiration, so OpEx week refers to the time in which many options contracts collectively expire. As a result, options His order today draws 50 million barrels of crude oil from the nation's Strategic Petroleum Reserve. In 1975, after the Middle Eastern members of OPEC cut off oil exports to the U.S

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