Oil prices hold near 2-week low after OPEC cuts demand view, …
3 days ago · Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed OPEC's latest downward revision for demand growth, a stronger U.S. dollar ...
OPEC again cuts 2024, 2025 oil demand growth forecasts
2 days ago · In the report, OPEC also cut its 2025 global demand growth estimate to 1.54 million bpd from 1.64 million bpd. China accounted for the bulk of the 2024 downgrade. OPEC trimmed its Chinese growth ...
Oil could plunge to $40 in 2025 if OPEC unwinds voluntary …
Oct 3, 2024 · Oil prices year-to-date. Given that oil demand growth next year probably won’t be much more than 1 million barrels a day, a full unwinding of OPEC+ supply cuts in 2025 would “undoubtedly see a ...
OPEC Cuts Global Oil Demand Growth Forecasts For a Fourth …
2 days ago · 3:12. OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China. Global oil consumption will ...
Oil slips towards 2-week low on gloomy demand outlook
2 days ago · Oil prices slipped on Wednesday, trading near their lowest in two weeks, a day after OPEC lowered global oil demand growth forecasts for 2024 and 2025 and amid demand concerns in China.
Oil Inches Higher But Demand Outlook Weighs on Sentiment
1 day ago · In its monthly report, OPEC said it expects global oil demand to increase by 1.82 million barrels a day in 2024, which is lower than the October estimate of 1.93 million barrels a day. OPEC also ...
With Oil Prices Weak, OPEC Plus Postpones Increases Again
Nov 3, 2024 · On Monday, prices of Brent crude, the international benchmark, rose 2.7 percent to $75 a barrel. Prices for U.S. crude also rose about 2 percent to above $71 a barrel. OPEC Plus had first ...
OPEC Plans a Gradual Unwinding of Production Cuts
Jun 2, 2024 · It aims to bolster oil prices by promising that deep production cuts will extend through next year. But it also spells out a gradual phase out of a portion of the cuts.
Opec agrees to accelerate oil production following US pressure
Jun 2, 2022 · Opec and its allies on Thursday agreed to accelerate oil production in July and August, as the cartel’s linchpin Saudi Arabia bowed to US pressure to cool a crude price rally that has...
OPEC’s Supply Delay Will Do Little to Stop Oil’s Slide
Nov 4, 2024 · Brent crude is up more than 2% today, trading near $75 a barrel, following OPEC+’s decision over the weekend. But the gains look fragile. Oil watchers from trading giant Trafigura Group to ...