did OPEC ever cut oil production?

Question

ya know how in november OPEC said they would cut production by 1.2 million barrels? Did they ever actually do that? and if they did, when did they do that?

Answer 1

Yes it certainly has. It has cut by as much as 30%.
http://www.wtrg.com/opecshare.html
OPEC cut off so much oil in 1973, that there was rationing in man places. You could only get gas on certain days, determined by your license number in New York. http://en.wikipedia.org/wiki/OPEC

Answer 2

Not that I am aware of.

If the OPEC nations had cut the production, the prices at the pump would have gone up. OPEC is a group of Nations..as you are aware.

British Petroleum and others have discovered a new potential reserve...It is estimated to be a greater oil source than Saudi Arabia.

Answer 3

OPEC itself won't be able to manage prices the most folk imagine, because all oil generating international places are literally not OPEC contributors. as an get mutually, we are sitting on an ocean of oil perfect right here contained in the U. S.. our flesh pressers have locked it up, to maintain the monopolistic prices of the huge oil organizations. our flesh pressers have confident the typical public that OPEC has brought with regard to the outrageous prices of ability, although the actuality is, our personal politicians have made us extra depending on OPEC than ever previously (to the pride of the huge oil companie$).

Answer 4

In the 1970's OPEC had an embargo against the US. It crippled our economy.

Answer 5

Yes they do but it sometimes does not have much effect on what we pay at the pump for gas in California.

Answer 6

that must be. the prices are rising as a result. it was around our thanksgiving. remember?

Answer 7

did they ever, remember 1964, or was tha before your time.