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ICYMI - OPEC’s crude production fell by the most in three years (via a Bloomberg survey) - ForexLive

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ICYMI - OPEC’s crude production fell by the most in three years (via a Bloomberg survey) | Forexlive

A Bloomberg article overnight on tighter oil supply.

- Output from the Organization of Petroleum Exporting Countries plunged by 900,000 bpd last month to an average of 27.79 MMbpd, according to a Bloomberg survey.
- the biggest reduction since the group and its allies slashed supplies during the depths of the Covid pandemic in 2020

There was also a report via Reuters:

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Earlier today:

Oil price update:

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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