What is OPEC? | CNBC Explains
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What is OPEC? | CNBC Explains
The fluctuating price of oil is largely decided by supply and demand and the collective actions of OPEC, an organization that provides 40% of the world’s oil. CNBC's Tom Chitty explains. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC Life on YouTube: http://cnb.cx/2wAkfMv Like our Facebook page: https://www.facebook ...
YouTubeCNBC International312.5K viewsJun 20, 2018
OPEC Oil Production
Feb 3, 2025; WTI crude oil futures eased gains and traded around $73 per barrel after OPEC reaffirmed its gradual output increase and removed the US Energy Information Administration (EIA) from its list of sources for monitoring production. The decision follows past tensions between OPEC and President Trump, who previously pressured the group to boost supply to offset US sanctions on Iran. Since returning to office, Trump has again urged OPEC to release more oil, arguing high prices support Rus
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Feb 3, 2025; WTI crude oil futures eased gains and traded around $73 per barrel after OPEC reaffirmed its gradual output increase and removed the US Energy Information Administration (EIA) from its list of sources for monitoring production. The decision follows past tensions between OPEC and President Trump, who previously pressured the group to boost supply to offset US sanctions on Iran. Since returning to office, Trump has again urged OPEC to release more oil, arguing high prices support Rus
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