When Saudi Arabia and other Opec+ oil producers announced further oil output cuts of around 1.16 million barrels per day (bpd)?

  • A. April 2, 2023
  • B. April 5, 2023
  • C. April 9, 2023
  • D. April 6, 2023

Correct Answer: A. April 2, 2023

Saudi Arabia and other Opec+ oil producers announced further oil output cuts of around 1.16 million barrels per day (bpd) on April 2, 2023, in a surprise move that analysts said would cause an immediate rise in price and the United States called inadvisable. The pledges bring the total volume of cuts by Opec+, which groups the Organisation of Petroleum Exporting Countries with Russia and other allies, to 3.66 million bpd, equal to 3.7 percent of global demand.

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