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.
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand ...
The Organization of the Petroleum Exporting Countries cut its forecast for oil-demand growth for the fourth consecutive month ...
OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a ...
Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed ...
Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures ...
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
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 ...
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
The Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria's crude oil production for October 2024 stood ...
The volume of Premium Motor Spirit (petrol) imported into Nigeria surged in October, a report by the Organisation of the ...
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...
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