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Nov 4, 2024 · Welcome to our guide to the energy and commodities powering the global economy. Today, OPEC+ reporter Grant Smith analyzes the group’s decision to postpone the return of barrels to the market.
11 hours ago · The group has been withholding output since 2022 in a bid to stave off a surplus and defend prices. But it has been forced to delay the restart twice as faltering demand growth in China and swelling supply from the Americas weigh on crude prices. Brent futures have retreated 17% since early July to trade near $73 a barrel in London.
6 days ago · Bloomberg reporters will discuss OPEC+'s options in a Live Q&A on Wednesday, Nov. 27, at 9 a.m. ET. The Q&A is free and available for everyone to listen to here. When OPEC+ ministers meet this ...
6 days ago · Oil steadied and time spreads strengthened as OPEC+ is expected to delay a production restart, a decision that would help stave off a looming supply glut.
Sep 5, 2024 · OPEC’s rethink came after downbeat economic data from China and the US — the biggest consumers — sent crude prices below $73 a barrel earlier this week, reaching the lowest since late 2023. The decline offers consumers some relief after years of rampant inflation, but leaves prices too low for the Saudis and others in the Organization of Petroleum Exporting Countries to cover their ...
Oct 29, 2024 · (Bloomberg) -- Oil traders are divided over whether OPEC+ will proceed with plans to restore production in December, as crude prices falter amid a fragile economic outlook. The alliance led by Saudi Arabia and Russia is due to begin a sequence of monthly output increases with a hike of 180,000 barrels a day in December, as it gradually revives supplies halted since 2022.
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Sep 13, 2024 · It’s true that the U.S. is the world’s top oil producer. According to the Statistical Review of World Energy, in 2023 the U.S. produced 15.6% of the world’s oil.But, Russia and Saudi Arabia ...
