Yahoo Canada Web Search

Search results

1. • Weakness in demand from China

     • Crude oil futures slipped to multi-month lows Tuesday as OPEC cut its 2024 forecast, citing weakness in demand from China. Brent crude futures fell more than 4% Tuesday, slipping below $69/barrel for the first time since May 2023. U.S. West Texas Intermediate (WTI) futures also skidded, trading around $65/barrel, levels not seen since March 2023.
     www.investopedia.com/crude-oil-prices-fall-opec-cuts-demand-outlook-8709624

     Crude Oil Prices Fall to Lowest Level of 2024 as OPEC Cuts ...

2. People also ask

   Why did oil prices drop in August?

   • The rapid decline in global oil demand growth in recent months, led by China, has fuelled a sharp sell-off in oil markets. Brent crude oil futures have plunged from a high of more than $82/bbl in early August to a near three-year low at just below $70/bbl on 11 September, despite hefty supply losses in Libya and continued crude oil inventory draws.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

   See all results for this question

   Why did US crude oil futures drop a year?

   • U.S. and international crude oil futures skidded to their lowest levels in more than a year after the influential oil producing group cut its 2024 outlook, citing weakness in Chinese demand.

   Crude Oil Prices Fall to Lowest Level of 2024 as OPEC ... - Investopedia

   www.investopedia.com/crude-oil-prices-fall-opec-cuts-demand-outlook-8709624

   See all results for this question

   Will oil prices go down in 2025?

   • In addition, global oil inventories are much lower today, currently standing at 4.4 billion barrels — the lowest on record since January 2017. Overall, J.P. Morgan Commodities Research forecasts Brent could average $80/bbl in the fourth quarter of 2024 and $75/bbl in 2025, declining to the low $60s by end-2025.

   The Forecast for Oil Prices | J.P. Morgan Research

   www.jpmorgan.com/insights/global-research/commodities/oil-price-forecast

   See all results for this question

   Why are Brent crude oil futures falling?

   • Brent crude oil futures have plunged from a high of more than $82/bbl in early August to a near three-year low at just below $70/bbl on 11 September, despite hefty supply losses in Libya and continued crude oil inventory draws. Global oil demand growth is slowing sharply from its post-pandemic rates, as already forecast in the OMR for some time.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

   See all results for this question

   Will global oil demand decline in the first half of 2024?

   • Reported monthly data covering 80% of global oil demand during the first half of 2024 confirm the steep decline in the rate of growth in oil consumption, which we have been projecting since our first forecast for 2024 was published in June 2023.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

   See all results for this question

   How much did oil demand rise in October?

   • Total U.S. oil demand rose 3.4% in October versus the prior year, the report said. U.S. crude oil output fell slightly in October to 13.248 million barrels per day, after it set monthly records in August and September.

   Oil prices shed 10% in 2023 as supply, demand concerns weigh

   www.reuters.com/markets/commodities/oil-prices-end-year-10-lower-demand-concerns-snap-winning-streak-2023-12-29/

   See all results for this question

3. www.forbes.com › sites › gauravsharmaFree Falling: Why Oil Is Down By Nearly 10% In 2024 And Sliding

   www.forbes.com › sites › gauravsharma

   • Cached

   Aug 21, 2024 · Prevailing intraday prices implied a 12-month slump of nearly 10% for Brent and a 1% decline since January, indicative of a benchmark that has barely moved from the level it started the year...

4. www.investopedia.com › crude-oil-prices-fall-opecCrude Oil Prices Fall to Lowest Level of 2024 as OPEC Cuts ...

   www.investopedia.com › crude-oil-prices-fall-opec

   • Cached

   Sep 10, 2024 · Key Takeaways. Crude oil futures slipped to multi-month lows Tuesday as OPEC cut its 2024 forecast, citing weakness in demand from China. Brent crude futures fell more than 4% Tuesday, slipping...

5. Videos

   • 

     1:00

     youtube.com

     Why are oil prices falling - explained in 60 seconds?

     Nov 8, 2014

     120K Views

   • 

     3:19

     youtube.com

     Canadian crude oil price falls to record low

     Nov 16, 2018

     40K Views

   • 

     2:20

     youtube.com

     How the US oil price fell below zero | FT

     Apr 21, 2020

     26.4K Views

   View all

6. www.hl.co.uk › news › why-is-the-oil-price-fallingWhy is the oil price falling and what’s next for oil in 2024?

   www.hl.co.uk › news › why-is-the-oil-price-falling

   • Cached

   Want to know why the price of oil is falling, what it means for stock markets and what could be next for the oil price in 2024? Find out now.

7. oilprice.com › Energy › Energy-GeneralWhy Oil Prices Fell $10 in a Month | OilPrice.com

   oilprice.com › Energy › Energy-General

   • Cached

   Aug 12, 2024 · The fall of oil prices early this month by $10 a barrel had nothing to do with weaker market fundamentals and global oil demand and everything to do two major factors.

8. www.iea.org › reports › oil-market-report-september-2024Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-september-2024

   • Cached

   Sep 12, 2024 · The rapid decline in global oil demand growth in recent months, led by China, has fuelled a sharp sell-off in oil markets. Brent crude oil futures have plunged from a high of more than $82/bbl in early August to a near three-year low at just below $70/bbl on 11 September, despite hefty supply losses in Libya and continued crude oil inventory draws.

9. www.reuters.com › markets › commoditiesOil prices shed 10% in 2023 as supply, demand concerns weigh

   www.reuters.com › markets › commodities

   Dec 29, 2023 · Crude futures lost over 10% in 2023 in a tumultuous year of trading marked by geopolitical turmoil and concerns about the oil output levels of major producers around the world.

10. www.jpmorgan.com › commodities › oil-price-forecastThe Forecast for Oil Prices | J.P. Morgan Research

    www.jpmorgan.com › commodities › oil-price-forecast

    • Cached

    Oct 15, 2024 · Overall, J.P. Morgan Commodities Research forecasts Brent could average $80/bbl in the fourth quarter of 2024 and $75/bbl in 2025, declining to the low $60s by end-2025. Against a backdrop of rising geopolitical tensions and heightened market volatility, crude oil prices have soared in recent weeks.