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Summary OPEC+ JMMC panel meeting keeps 2.2 mln bpd cuts Brent crude trades above $81, Middle East tensions support Next JMMC meeting to be held on April 3 LONDON/DUBAI/MOSCOW, Feb 1 (Reuters) – OPEC+ will decide in March whether or not to extend voluntary oil production cuts in place for the first quarter, two OPEC+ …
OPEC+ to Review Oil Cut Extension in March, Ministers Leave Policy Unchanged Read More »
International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …
Market participants appear to be putting greater faith in the IEA than they do in OPEC. Analysts from groups representing oil producers and consumers have radically different views of this year’s market. But OPEC doesn’t seem to believe its own experts. Oil demand will increase almost as fast this year as it did in 2023 …
Who’s Right on Oil Demand Growth Forecasts for 2024? Read More »
Summary OPEC sees oil demand rising by 1.85 mbpd in 2025 Sticks to 2024 oil demand growth forecast of 2.25 mbpd IEA to publish updated forecasts on Thursday LONDON, Jan 17 (Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see …
In First Look at 2025, OPEC Expects Robust Oil Demand Growth Read More »
OPEC may need to cut production further to keep oil prices at current levels in the face of stuttering demand growth and high U.S. output, the CEO of commodities trader Mercuria Energy Group said on Wednesday. U.S. crude production will climb to record levels over the next two years, the U.S. Energy Information Administration (EIA) …
OPEC May Need Further Supply Curbs to Balance Market, says Mercuria Chief Read More »
(Reuters) OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market. The Organization of the Petroleum Exporting Countries pumped 27.88 million barrels per day (bpd) last month, the …
OPEC December Oil Output Rises Before New Cuts, Angola Exit – Survey Read More »
