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- Assume some OPEC+ producers will continue to limit production after current voluntary cuts expire at the end of June, a tighter oil market is foreseen for second-half 2024. This tightness is expected to result in a continuous decline in inventories through the rest of the year, maintaining elevated oil prices.
www.ogj.com/general-interest/economics-markets/article/55056878/oil-market-to-tighten-second-half-2024
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Jun 4, 2024 · Assume some OPEC+ producers will continue to limit production after current voluntary cuts expire at the end of June, a tighter oil market is foreseen for second-half 2024.
Jun 19, 2024 · Investing.com - The major energy agencies have all recently made revisions to the likely oil balances this year and next, but they still point to the crude market tightening in the second...
May 15, 2024 · Global oil demand is set to rise by 1.1 mb/d in 2024, 140 kb/d less than projected in last month’s Report as weak deliveries, notably in Europe, shifted first-quarter OECD demand into contraction. The outlook for 2025 is comparatively unchanged, with the pace of growth now marginally surpassing 2024 at 1.2 mb/d.
Aug 11, 2023 · The Organization of the Petroleum Exporting Countries (OPEC) and its allies began limiting supplies in late 2022 to bolster the market and in June extended supply curbs into 2024.
- U.S. shale dominance will temper oil prices. Tyler Crowe (Helmerich & Payne): U.S. shale may be a victim of its success. Over the past several years, shale drilling has gone from a novel, high-cost technological development to a lower-cost production source.
- The merger wave continues. Matt DiLallo (Devon Energy): A consolidation wave has swept across the oil patch over the past year. Exxon really got the ball rolling by agreeing to acquire Pioneer Natural Resources in a more than $60 billion deal.
- Volatility will continue, but so will profitability. Jason Hall (Chevron): Tyler and Matt both make some compelling arguments. I especially like Matt's prediction with Devon; whether it's Marathon or another bigger oil company that makes the move, I wouldn't be surprised to see something happen.
Jun 14, 2024 · The U.S. active oil rig count, an early indicator of future output, fell by four to 488 this week to its lowest since January 2022, energy services firm Baker Hughes said. Elsewhere, Russia...
Jan 19, 2024 · Several favorable conditions indicate that oil and gas demand will remain strong in 2024. The International Monetary Fund projects global economic growth of 4.1%, implying further energy...
