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.
The Organization of the Petroleum Exporting Countries cut its forecast for oil-demand growth for the fourth consecutive month ...
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...
A supply glut tends to reduce prices, which could prove challenging for President-elect Trump’s plan to boost U.S. oil ...
The Organization of the Petroleum Exporting Countries and allies are in a dilemma with its decision to increase oil output ...
The Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria's crude oil production for October 2024 stood ...
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
The head of OPEC+ downplayed forecasts of lower crude demand, saying there was too much pessimism in the market, CNBC ...
Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures ...
On the compliance side Platts OPEC+ survey by S&P Global Commodity Insights, found that OPEC’s alliance’s oil production rose 30,000 b/d to 40.26 million b/d in October, with a surge in Libya largely ...
Oil prices have fallen by around 3pc today as markets bet on higher supply from the US and sluggish demand from China.
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