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Summary OPEC+ meets on June 1 Voluntary cuts of 2.2 mln bpd are in place until end-June ‘Good chance’ OPEC+ will extend, Energy Aspects says LONDON/MOSCOW, May 2 (Reuters) – OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but …
OPEC+ Could Extend Oil Cuts, Formal Talks Yet to Start Read More »
Bloomberg The latest market forecasts from the world’s oil producer and consumer groups might as well be describing two different planets. Which one OPEC+ ministers believe they inhabit will be crucial for their production decision in June. The International Energy Agency is relatively downbeat on the outlook for demand. On Friday, it trimmed its 2024 forecast by …
OPEC Makes the Case for Oil Supply Restraints to Ease Read More »
(Reuters) – OPEC on Thursday predicted robust fuel use in the summer months and stuck to its forecast for relatively strong growth in global oil demand in 2024, while saying there was a chance the world economy could do better than expected this year. The Organization of the Petroleum Exporting Countries, in a monthly report, …
OPEC Sees Robust Summer Oil Demand, Economic Upside Potential Read More »
Reuters) – There was no surprise that a top meeting of OPEC+ ministers opted to keep output policy unchanged since the global crude oil market is almost exactly where the exporter group wants it. OPEC+’s ministerial committee on Wednesday kept the current output targets but did note that some countries had been over-producing and had undertaken to …
OPEC+ Gets Oil Price to its Sweet Spot, the Trick is Keeping it There Read More »
Summary OPEC+ JMMC meets on Wednesday at 1100 GMT Producers earlier agreed to extend output cuts Oil rallies to $89 a barrel, highest this year LONDON, April 3 (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting later on Wednesday, three OPEC+ sources told Reuters, following …
OPEC+ Unlikely to Change Output Policy at Panel Meeting Read More »
Summary OPEC+ JMMC meets on Wednesday at 1100 GMT Producers earlier agreed to extend output cuts Oil rallies to $89 a barrel, highest this year (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting on Wednesday, five OPEC+ sources told Reuters, as oil prices hit their …
OPEC+ Unlikely to Change Output Policy at April 3 Meeting Read More »
(Reuters) – Oil producer group OPEC said on Wednesday it was encouraged by a commentary from the International Energy Agency (IEA) which underscores the importance of oil security, while the two remain far apart on the demand outlook. “While the world’s dependence on oil is lessening, it remains deep-rooted, so supply disruptions can still cause …
OPEC Says IEA Commentary on Oil Security Encouraging Read More »
Sticks to 2024 oil demand growth forecast of 2.25 mbpd OPEC Feb output rises 203,000 bpd despite new OPEC+ cuts IEA to publish updated forecasts on Thursday OPEC, IEA at most divided on oil demand since at least 2008 LONDON, March 12 (Reuters) – OPEC on Tuesday stuck to its forecast for relatively strong growth …
OPEC Sticks to Oil Demand View, Nudges Up Economic Growth Read More »
Summary Reuters analysed 16 years of monthly reports Gap between the two represents 1% world demand Analyst consensus closer to IEA But analysts agree with OPEC peak demand far off LONDON, March 11 (Reuters) – Producer group OPEC and the International Energy Agency, the world’s most closely watched forecasters of oil demand growth, are further …
OPEC, IEA at Most Divided on Oil Demand Since at Least 2008 Read More »
Producers may need to stick with output curbs for the entire year, and the cooperation of all is far from guaranteed. OPEC+ may have put a floor under crude prices by extending oil supply cuts for another quarter, but the group will soon face a more grueling test. Saudi Arabia and its partners agreed Sunday to keep …
OPEC+ Will Soon Confront a Tougher Oil-Market Test Read More »
