Now playing Next Austria OPEC+ members meet in Vienna to discuss oil production strategy The OPEC+ countries discuss their current production strategy in Vienna. New oil production cuts could result from the meeting as signs of discord between top crude oil producers Saudi Arabia and Russia set the tone of the talks. 03/06/2023
Now playing Next world news OPEC cuts could boost oil prices in Moscow's favour The cuts in oil output have immediately pushed prices higher and are expected to boost gas prices, adding to strains in many countries where high fuel prices are a heavy burden. 03/04/2023
Now playing Next world news OPEC sticks to policy of reducing oil output The Group often acts to change the supply and demand of oil, in order to control market prices and ensure high revenues for its members. But it says it's ready to meet at any time to “address market developments if necessary.” 05/12/2022
Now playing Next world news Heads of Russia and UAE meet after OPEC+ cuts oil production Russian President Vladimir Putin and the leader of the UAE Sheikh Mohammed bin Zayed Al Nahyan meet in St Petersburg days after OPEC+ cuts oil production. 11/10/2022
Now playing Next state of the union Sanctions, summits and nuclear threats take centre stage in Europe In our State of the Union show, we bring you the top stories driving the news in Brussels. 07/10/2022
Now playing Next Business OPEC+ to cut oil production by 2m barrels a day to ‘boost prices’ OPEC+ alliance agreed to its largest reduction in oil production since the spring of 2020, in a move strongly criticised by Washington. 05/10/2022
Now playing Next World What will prompt Gulf energy companies to merge post-pandemic? Worldwide lockdowns, shrinking demand and a supply glut have sent shockwaves through the oil & gas sector, plus oil-reliant economies in the Middle East. 12/06/2020
Now playing Next world news OPEC, oil nations agree to unprecedented production deal to cut output Oil-producing nations on Sunday finalised an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic. 12/04/2020
Now playing Next Libya Euroviews. Libya’s fragile economic gains thwarted by the unnecessary war ǀ View When the internationally-recognized Government of National Accord (GNA) was formed in Libya in December 2015, it was facing an enormous amount of work to restore the country’s social fabric and rebuild its devastated economic structures. 06/06/2019
Now playing Next USA Trump: Saudi king would not last 'two weeks' without US support US President Trump said Saudi Arabia's King Salman would not last "two weeks" in power without US military backing. 03/10/2018
Now playing Next Saudi Arabia Saudi Arabia ready to increase oil output The leader of Saudi Arabia promised President Donald Trump that he can boost oil production if needed and the country has 2 million barrels per day of spare capacity available. 01/07/2018
Now playing Next Economy Oil prices jump as biggest producers plan to extend output cuts Saudi Arabia and Russia have agreed to pump less through until March 2018 to further cut the huge amount of oil in storage around the world. 15/05/2017
Now playing Next Markets Oil stabilises, stocks rise on Macron confidence Oil prices have been on a roller coaster ride from oversupply worries, strong opinion poll numbers for French centrist Macron boosted share prices. 05/05/2017
Now playing Next Economy OIl producers mull over extending output cut OPEC and non-OPEC oil producers discuss production cut extension 27/03/2017
Now playing Next Economy Oil price falls to new 2017 low Oil prices have tumbled following an OPEC report that stocks are rising worldwide, despite an agreement to reduce output to try to push up prices. 14/03/2017
Now playing Next Economy Saudi Arabia's oil price target revealed Saudi Arabia reportedly wants crude oil to rise to around $60 a barrel this year to encourage new investment but not boost US shale oil output. 28/02/2017
Now playing Next Markets OPEC producers really are pumping less, boosting crude prices Oil prices jump on word that OPEC producers have achieved over 90 percent of the output cuts they had pledged. 10/02/2017
Now playing Next Markets Oil prices hit 18-month high on production cut hopes Oil prices hit their highest in 18 months on hopes the deal between OPEC and non-OPEC members to cut production will reduce a glut of crude. 03/01/2017
Now playing Next Business Line OPEC and Russia oil cut deals promise to address supply glut Business Line considers the details of the agreements reached by oil producers from OPEC and other countries to cut output. Will it boost oil prices? 14/12/2016
ADVERTISEMENT
