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 ...
Oil prices bounce after back-to-back declines; OPEC sees lower …
2 days ago · On Monday, WTI oil prices dropped more than 3% to close below the $70 a barrel threshold, while Brent crude lost 2.8%. A stronger dollar following Trump's election victory has put pressure on oil ...
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 jumps nearly 3% after OPEC+ delays output hike, US election …
Nov 4, 2024 · Iran has approved a plan to increase oil production by 250,000 barrels per day, the oil ministry's news website Shana reported on Monday. Libya's oil production is nearing 1.5 million bpd, the ...
News - OPEC
OPEC’s World Oil Outlook 2024 to be launched in Rio de Janeiro on 24 September. 10 Sep 2024 | Vienna, Austria, 10 September 2024--The Organization of the Petroleum Exporting Countries (OPEC) will launch the 18th edition of its World Oil Outlook (WOO) at ROG.e 2024 in Rio de Janeiro, Federative Republic of Brazil.
OPEC Plans a Gradual Unwinding of Production Cuts
Jun 2, 2024 · Brent crude, the international benchmark, sold on Friday for about $82 a barrel, well under the levels above $100 a barrel reached in 2022 after Russia’s invasion of Ukraine but still high enough...
Opec+ members extend production cuts in bid to boost oil price
Mar 3, 2024 · Opec+ members led by Saudi Arabia and Russia have extended voluntary cuts to oil production for another three months, as they attempt to boost prices that have remained subdued in spite of ...
OPEC : Several OPEC+ countries announce extension of additional ...
Mar 3, 2024 · The OPEC Secretariat noted the announcements of several OPEC+ countries extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting the stability and balance of oil markets.
OPEC+ to extend deep oil production cuts into 2025 - CNN
Jun 2, 2024 · The Organization of the Petroleum Exporting Countries and its allies — a group of leading oil producers known as OPEC+ — agreed Sunday to extend production cuts announced last year into 2025. The...