‘Too much doom and gloom': OPEC chief is bullish on oil demand despite extended production cuts
The forecasts come amid a slowing Chinese economy, which has significantly hit oil demand and abundant global supply.
OPEC further cuts 2024, 2025 global oil demand forecast
The Organization of the Petroleum Exporting Countries (OPEC) further trimmed forecasts for global oil demand growth this year and next, marking the
Crude Oil Futures Gain as OPEC+ Extends Output Cuts
KEY TAKEAWAYS Crude oil futures are rising Monday after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday extended their output cuts by one month.Saudi Arabia and other members of OPEC+ said they agreed to keep voluntary production cuts of around 2.
Oil Prices Edge Higher on Extended OPEC Cuts. Why the Boost May Not Last.
Crude is still down substantially over the last 12 months. U.S. producers have kept output high and China’s economic slump is denting demand.
Brent Crude - Oil Prices Rise As OPEC+ Extend Output Cuts
Oil prices opened $1 dollar higher following the weekend to trade at 73.80 a barrel when markets opened. Click to read.
Oil Prices Rise After OPEC+ Decides To Extend Production Cuts Till December: Retail Goes Bullish
Oil prices gained over 2% on Monday after the Organization of the Petroleum Exporting Countries plus Russia and other allies (OPEC+) said it would extend its output cut till December. OPEC said in a statement that the eight OPEC+ countries Saudi Arabia,
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OPEC trims its China crude demand forecast, but nowhere near enough
LAUNCESTON, Australia, Oct 15 (Reuters) - OPEC cut its estimate for China's crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively ...
With Oil Prices Weak, OPEC Plus Postpones Increases Again
Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday ...
China and the global south will not save ‘big oil’
Opec has cut its oil demand forecast for the last three months in a row. This is becoming a ritual. Not even the most ...
OPEC positive on global oil demand, sees no peak on horizon
The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu ...
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China’s Energy Transition Is Wrong-Footing OPEC
OPEC has repeatedly revised down its 2024 demand estimates, citing a drop in diesel use and slower-than-expected economic ...
OPEC+ in a pickle: should the cartel increase oil output?
The Organization of the Petroleum Exporting Countries and allies are in a dilemma with its decision to increase oil output ...
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Big Oil Chiefs See Middle East, China as Top Concerns
Escalating tensions in the Middle East and U.S. relations with China pose the greatest concerns for Big Oil, according to ...
Oil edges down ahead of US election, China NPC meeting
Oil prices eased slightly on Tuesday as markets braced for uncertainties from the U.S. presidential election, after rising ...
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Why OPEC+ Delayed Its Planned Oil Production Increase
OPEC+ has delayed its planned production increase for a second time, citing market conditions and geopolitical uncertainties.
Daily Wrap on MSN2d
OPEC+ delays production boost as weak demand lifts prices
The cartel of oil-producing countries expanded to include Russia, and it postponed plans for the return to increased crude production by another month. The decision to delay caused prices to rise.