Oil Prices Plunge As OPEC+ Considers Production Hike
Crude prices hit a 10-month low on Monday morning.
OPEC’s de facto leader Saudi Arabia and OPEC+’s other members are discussing an oil production increase, OPEC delegates said on Monday, according to the Wall Street Journal.
The full group will meet next on December 4 to set out OPEC+’s production plans for January 2023—and the group is reportedly considering an increase of up to half a million barrels a day. The timing of the production target increase—if the group agrees to it—would be just one day before the effective date of both the EU’s Russian oil embargo and G7 oil price cap. $Crude Oil Futures(DEC4) (CLmain.US)$ $Camber Energy (CEI.US)$ $Imperial Petroleum (IMPP.US)$ $Exxon Mobil (XOM.US)$ $Chevron (CVX.US)$
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razo2 : https://www.rigzone.com/news/wire/saudis_deny_report_of_talks_on_opec_oil_output_increase-21-nov-2022-171118-article/
razo2 : fake news
efficentupup OP razo2 : Saudi Arabia clarified that it would not consider increasing production, which is a false story from the Wall Street Journal, and I'm sorry![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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efficentupup OP razo2 : GET![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
razo2 efficentupup OP : is ok. there is alot of fake news floating lately. just remember as long as china news don't come from Xi or Saudi news don't come from Prince Abdulaziz is likely fake news. someone in wall Street is making a quick buck on fake news.
razo2 efficentupup OP : for oil news I always use rigzone or oil price website.