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- Underwhelming data so far this year and expectations of softening Chinese demand growth prompted OPEC to cut its forecasts of global oil demand growth this year and next, in the first downward revision since the organization issued its initial estimate for 2024 a year ago.
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Oct 14, 2024 · While government stimulus measures will support fourth-quarter demand, oil use is facing headwinds from economic challenges and moves towards cleaner fuels, OPEC said.
- OPEC+ extends deep oil production cuts into 2025 | Reuters
Companies. OPEC+ prolongs some cuts by one year. OPEC+ to...
- OPEC+ extends deep oil production cuts into 2025 | Reuters
Sep 10, 2024 · OPEC on Tuesday cut its forecast for global oil demand growth in 2024, reflecting data received so far this year and also trimmed its expectation for next year, marking the producer group’s...
17 hours ago · If OPEC+ phases in the amount it currently plans, oil prices are likely to drop well below the base-case forecast from S&P Global Commodity Insights, to as low as some $40 a barrel in March, said ...
Jun 2, 2024 · The Organization of the Petroleum Exporting Countries and its allies — a group of leading oil producers known as OPEC+ — agreed Sunday to extend production cuts announced last year into 2025.
Oct 14, 2024 · Crude oil prices fell 2% Monday after the Organization of the Petroleum Exporting Countries (OPEC) reduced its oil demand outlook for 2024 and 2025 once again, citing data received so...
Oct 14, 2024 · OPEC said this year's demand growth was still above the historical average of 1.4 million bpd seen prior to the COVID-19 pandemic, which caused a plunge in oil use. For next year, OPEC...
Jun 3, 2024 · Companies. OPEC+ prolongs some cuts by one year. OPEC+ to phase out other cuts very slowly. Group faces rising oil stocks, tepid demand growth. Factbox: What is OPEC+ and how does it affect oil...
