OPEC cuts demand forecast

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.
OPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecast for global oil demand growth in 2024 and lowered its projection for next year on Tuesday, highlighting China, India and other regions, marking the producer group's fourth consecutive downward revision.
Crude oil prices struggle below $75 as OPEC lowers demand forecast for the fourth time
Crude oil prices have dropped nearly 9% from an early October high of $80.35 per barrel, with Brent crude struggling
OPEC again reduces 2024, 2025 oil demand growth forecasts, Reuters reports
OPEC lowered its forecast for global oil demand growth for 2024 and 2025 on Tuesday, highlighting weakness in China, India and other regions,
Oil prices edge up slightly amid OPEC demand cut forecast
Oil prices on the New York fuel exchange are slightly rising, but they remain close to this month's lowest levels. Brokers say investors are focused on the fuel demand outlook after OPEC countries lowered their oil demand growth forecasts for this and next year.
China's weak economy and record US production will lead to a surplus of one million barrels of oil a day next year, IEA says
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...
Oil bounces back on short-covering after OPEC's gloomy demand forecast
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand ...
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OPEC Disagrees With NNPC Over Nigeria’s Crude Oil Production Figure
The Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria's crude oil production for October 2024 stood ...
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OPEC Oil Production Jumps by 470,000 Bpd as Libyan Output Returns
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
Oil prices hold ground after OPEC lowers demand outlook, China stimulus limit gains
Oil prices steadied on Tuesday, recovering from a 5% drop over the previous two sessions, as investors absorbed OPEC's latest ...
Crude Oil in good shape to close off this Thursday in the green
The monthly report from the IEA bears no change in the narrative for the 2025 outlook. The US Dollar Index rallies further after President-elect Trump secures a majority in both Senate and House.
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OPEC Disputes Nigerian Government's Oil Output Figures, Reports 1.434 Million Barrels Per Day In October
In its Monthly Oil Market Report (MOMR) released in November, OPEC clarified that its figures were based on secondary ...
OPEC says Russian oil output broadly stable in October
Russia's crude oil output edged up in October by 9,000 barrels per day (bpd) to about 9.01 million bpd, the Organization of ...
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OPEC Plus crude output hits 40.34mln bpd last month
The report touched on economic growth expected in a number of countries, including China, where the figure remains unchanged ...
Oil News: Weak Demand Points to Bearish Outlook as IEA Data Approaches
Crude oil faces technical hurdles at $69.21 as OPEC cuts demand forecasts for 2024-25. Weak Chinese demand weighs on market.