Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
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 very steep slide in crude prices, possibly toward $40 a barrel," Henning Gloystein, head of energy, climate and resources at Eurasia Group, told CNBC.
Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed ...
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
Prices, meanwhile, rose on Wednesday but today reversed their gains under the weight of lower demand expectations coupled with ample supply indications. Both OPEC and IEA signaled they expected a ...
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand ...
Reuters on MSN1d
Oil slips towards 2-week low on gloomy demand outlookOPEC lower demand forecast, China concerns weigh Iran ready for possible oil export curbs after Trump win API weekly US ...
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
Oil extended its biggest drop in almost two weeks as a soft outlook in top importer China continued to plague the market.Most ...
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