OPEC Could Extend Production Cuts To Support Oil Prices
Oil prices have been under pressure from high interest rates, a strong dollar, and high U.S. oil production. OPEC could extend oil production cuts to support prices.
OPEC+ Extends Oil Output Cuts To Late 2026: What It Means For Markets
The OPEC+ group extends production cuts until 2026, with gradual increases and extended compensation period. Analysts view this as cautious market management.
OPEC+ Expected To Extend Oil Supply Cuts
The OPEC oil cartel and its allies are expected Thursday to extend their supply cuts to avoid a sharp drop in prices in a global market awash in crude.
OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast
OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.
OPEC makes fifth and biggest cut to 2024 oil demand growth forecast
OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China's sputtering role as the world's demand growth engine.
Explained: How will OPEC’s latest output cut extensions affect oil market balance in 2025?
The oil market is still expected to be abundantly supplied next year even after OPEC+ extended steep production cuts till the end of March.
IEA Lifts 2025 Oil-Demand Forecast But Expects Growth to Remain Subdued
The International Energy Agency lifted next year’s oil-demand estimates citing the impact of China’s stimulus measures, but said the pace of growth is expected to remain subdued. The Paris-based organization now forecasts global demand to grow by 1.
OPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group's fifth consecutive downward revision. The weaker outlook highlights the challenge facing OPEC+,
Oil markets to remain oversupplied in 2025 despite OPEC+ cuts, warns IEA
Oil markets are expected to remain oversupplied next year despite OPEC+ production cuts, the International Energy Agency (IEA) said on Thursday. “Persistent overproduction from some OPEC+ members, robust supply growth from non-OPEC+ countries and relatively modest global oil demand growth leaves the market looking comfortably supplied in 2025,
OPEC cuts 2024 oil demand growth forecast for fifth time
OPEC has reportedly reduced its 2024 global oil demand growth forecast for the fifth consecutive month, marking the largest cut so far. OPEC now expects demand to rise by 1.61mbbl/d, down from the previous estimate of 1.
Opec cuts 2024 oil demand forecast amid weaker quarterly data
Global oil demand is expected to rise by 1.61 million barrels per day in 2024, a slight downwards revision from last month’s forecast of 1.82 million bpd, according to the latest figures released in Opec’s monthly oil market report on Wednesday.
Opec expected to extend oil output cuts as it waits on Trump
Producer group likely to watch US president-elect’s plans to impose sanctions against Iran and Venezuela, say analysts ...
OPEC+ delays oil output hike until April, extends cuts into 2026
OPEC+ on Thursday pushed back the start of oil output rises by three months until April and extended the full unwinding of ...
OPEC puts off output hike till March-end, extends overall cuts till end of 2026
OPEC on Thursday extended the voluntary crude oil production cuts of 2.2 million barrels per day till the end of March due to ...
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OPEC’s Oil Production Rose in November as Libyan Output Jumped
OPEC's crude oil production increased in November, primarily due to higher output from Libya and Iran, despite the OPEC+ ...
OPEC Plus Postpones Plan to Increase Oil Output for Three Months
The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other ...