OPEC’s Dilemma: Another Year of Oil Supply Curbs or Price Slump
When OPEC+ ministers meet this weekend, they confront the unpalatable choice: continue to curb oil-supplies well into 2025, or risk a renewed price slump.
OPEC+ production cuts may support oil prices in near term, Goldman Sachs says
Crude production from Iraq, Kazakhstan, and Russia has declined in compliance with OPEC+ production cuts, supporting a modest near term upside to Brent prices, Goldman Sachs said.
Brent Crude - Oil Eyes Recovery As OPEC + Deliberate Oil Cut Rollover
Adding to Brent Crude’s challenges were rumors that Donald Trump may slash the red tape around oil drilling on Federal lands. There are also rumors that Trump may confront the IEA around their focus on green energy. This was another factor in the possible drop in oil prices.
Goldman Sachs: OPEC+ Cuts Provide Near-Term Upside to Oil Prices
OPEC+ is expected to extend its production cuts into 2025, which Goldman Sachs sees as providing near-term support for oil prices.
OPEC unlikely to raise production in short term, commodity trading bosses say
OPEC is unlikely to unwind voluntary production cuts in the short term, executives of global commodity trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Forum in London on Tuesday.
OPEC+ Has Little Room to Revive Oil Supply, Iran Official Says
OPEC+ has little scope to reverse its oil production cuts, which have triggered a wave of rival supply from the US shale industry, Iran’s representative to the group said.
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Oil prices are steady, OPEC sets meeting to talk turkey
Crude oil prices have stabilized in recent weeks as traders gear up for a meeting of OPEC and its allies. There are signs ...
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Tanker owners braced for fresh blow with Opec set to keep oil tap turned down
Hammer was not the only market observer to point out another delay: Goldman Sachs said the recent oil drop would prompt ...
Trump’s oil-drilling plans may pose a big problem for OPEC+
OPEC+ is facing a dilemma as the group of major oil producers meets this Sunday, thanks to expectations for a surplus in ...
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OPEC Likely to Stick to Output Cuts for Another Month
OPEC will likely remain committed to production curbs for yet another month, the energy minister of Azerbaijan told Reuters ahead of the group’s Sunday meeting. “OPEC+ could or couldn't discuss oil ...
OPEC Secretary General issues heavenly message at COP29 - oil is 'gift of God'
Breaking from the general sentiment at the COP29 climate summit in Azerbaijan, which seeks to accelerate the phaseout of ...
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Nigeria’s oil production above OPEC quota – NNPC
The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Authority say the country’s ...
OPEC+ to hold Dec 1 oil policy meeting online, sources say
OPEC+ will hold its Dec. 1 oil policy meeting online, two OPEC+ sources said on Monday, with the producer group set to ...
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OPEC Fund extends $30mln to Ipak Yuli Bank to boost local businesses in Uzbekistan
The OPEC Fund for International Development (the OPEC Fund) has signed a US$30 million loan agreement with Joint Stock ...