OPEC Cuts Global Oil Demand Growth Forecasts For a Fourth Consecutive Month
OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China.
Oil bounces back on short-covering after OPEC's gloomy demand forecast
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand forecast cut, while the dollar hit a seven-month high, capping crude's gains. Brent crude futures were up 61 cents,
‘Too much doom and gloom': OPEC chief is bullish on oil demand despite extended production cuts
The forecasts come amid a slowing Chinese economy, which has significantly hit oil demand and abundant global supply.
Brent Oil Prices Steady Despite OPEC Demand Forecast Cut, Where To Next?
Technical analysis suggests that oil prices are eyeing a bounce but could face resistance around $74.00 and $76.35. Click to read.
OPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecast for global oil demand growth in 2024 and lowered its projection for next year on Tuesday, highlighting China, India and other regions, marking the producer group's fourth consecutive downward revision.
Oil Edges Lower; Eyes on Global Demand Forecast
Oil prices were lower in early Asian trade. Investors were still digesting OPEC’s recent move to cut its forecast for global oil demand, ANZ Research said.
Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
Given that oil demand growth next year probably won't be much more than 1 million barrels a day, a full unwinding of OPEC+ ...
Oil prices hold near 2-week low after OPEC cuts demand view, dollar rises
Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed ...
OPEC Trims Demand Forecast for Fourth Straight Month
The Organization of the Petroleum Exporting Countries cut its forecast for oil-demand growth for the fourth consecutive month ...
Crude Oil Prices5d
OPEC Oil Production Jumps by 470,000 Bpd as Libyan Output Returns
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
Oil Prices Steady Ahead of OPEC Report, China Stimulus Limit Gains
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
Legit on MSN3d
OPEC Disagrees With NNPC Over Nigeria’s Crude Oil Production Figure
The Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria's crude oil production for October 2024 stood ...
Crude Oil Prices6d
OPEC Slashes Oil Demand Growth Estimate Again
OPEC lowered its global oil demand growth forecast for 2024 and 2025 for the fourth month in a row, citing weaker demand in ...
China's weak economy and record US production will lead to a surplus of one million barrels of oil a day next year, IEA says
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...