...the short-sighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine,” the White House commented. OPEC...
...will impact the timely availability of adequate supplies to meet the growing demand beyond 2023 from non-participating non-OPEC oil-producing countries, some OPEC member countries and participating non-OPEC oil-producing countries. Saudi...
...into effect today, 5 December, in an already churning oil market. Speaking after yesterday’s OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+...
...BI analyst Salih Yilmaz: “Non-OPEC output — which could come back online if the oil price stay high for a long period of time — combined with OPEC’s near-record spare...
An agreement to extend the deal on record production cuts until the end of July which was reached at a virtual meeting of OPEC+ on 4 June, saw oil prices...
...in demand during 2023. When demand unexpectedly dropped due to covid, OPEC+ was left with an oversupply leading to a substantial drop in price. OPEC+ are keen to maintain the...
...began to speculate on more OPEC cuts. More voluntary cuts were announced amidst OPEC infighting, but markets shook these cuts off as they believed they would not materialise. Q1 Q1...
...price OPEC+ seems to be targeting as a floor, with only 5% seeing prices surpassing $100. Just a quarter (24%) of respondents expect peak oil demand before 2030 – compared...
...side spat. Relationships within OPEC have been increasingly discordant for several years now, but they reached breaking point at March’s OPEC meeting in Vienna. Saudi Arabia basically accused fellow OPEC...
...them at their lowest level in more than five years. The investment bank also commented: “However, with a constructive demand forecast and relatively cautious expectations for Opec+ supply, we expect...
