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Articles tagged under: OPEC

Iraq Reduces Oil Production Across Top Three Fields

Published March 4, 2026

Iraq has sharply reduced oil production at several of its key fields, according to Iraqi oil officials, in a move that significantly reduces the country’s output. Production at Iraq’s largest field, Rumaila, has been cut by about 700,000 barrels per…
Top StoriesLatest NewsMarkets

OPEC+ Extends Voluntary Production Cuts

Published June 3, 2024

After a weekend meeting, the OPEC+ nations have agreed to extend its oil production cuts into 2025. The voluntary cuts are in response to high interest rates and increased U.S. oil production. The next meeting for the OPEC+ nations will…
Latest NewsMarkets

OPEC+ to Cut Oil Production

Published October 5, 2022

Beginning in October, OPEC and its allies will cut oil production by two million barrels each day. Total Farm Marketing Senior Market Advisor Naomi Blohm says this cut is significant and higher than traders expected. "It also adds another level…
Latest NewsAg Business

Crude Reaches Seven-Year High

Published October 5, 2021

OPEC and Russia have agreed to gradually increase oil production by 400,000 barrels a day through 2022. That’s far below what many traders had expected. The decision sent oil prices sharply higher with West Texas intermediate crude now trading over…
Top StoriesLatest NewsMarketsAg Business

Lower Demand Will Stick Around Awhile

Published April 20, 2020

Crude oil traded at its lowest level since 1988 on Monday. That weighed on the corn market. "Even with the cuts of supply OPEC came out with last week, it still won't touch the drop in demand," says Rich Morrison,…
Top StoriesLatest NewsMarkets

Oil Prices Plunge

Published March 9, 2020

Wall Street and commodity markets are reeling after a decision by Saudi Arabia to cut crude oil prices and increase production. Saudi oil executives are retaliating against Russia which refused to participate in a proposed cutback in oil production. OPEC…
Top StoriesLatest NewsAg Business

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