OPEC

OPEC+, which includes members of the OPEC and allies such as Russia, is discussing a further delay to a planned oil output hike that was due to start in January

Israel said on Monday it is moving toward a ceasefire in the war with Hezbollah but there are still issues to address

The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 1.82 million barrels per day in 2024, down from 1.93 million bpd it expected last month

The OPEC+ group, combining the Organization of the Petroleum Exporting Countries plus Russia and other allies, was scheduled to raise output by 180,000 barrels per day in December

Opec in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month

Oil prices have fallen in 2024 with Brent crude last month slipping below $70 a barrel for the first time since 2021, pressured by concern about global demand and rising supply outside Opec+

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply

The Organization of the Petroleum Exporting Countries (Opec) and allies, together called Opec+, last week agreed to delay a planned oil output increase for October

Crude oil strategy, Sept 12: WTI crude oil rice may fall to $65 in medium-term

The difference between the forecasts of OPEC and IEA, amounting to 0.93 million bpd, underscores the widening divide between these key institutions

The weaker outlook further underscores the challenge faced by Opec+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia in balancing the market

The news lifted oil prices by over $1 a barrel, with Brent futures trading over $74 before paring gains. It fell to its lowest this year on Wednesday

News of increased production helped push oil prices lower last week but the scale of the sell-off was overdone, said Phil Flynn, an analyst at Price Futures Group

Global oil demand will flatline till 2035 before falling, as Chinese demand slows

The reduction still leaves Opec at the top end of industry estimates. Oil was steady after the report was released, trading above $80 a barrel

China, world's biggest importer of crude, has seen arrivals slump this year, with imports of 10.90 mn bpd in first seven months of year, down 2.9 per cent from 11.22 mn bpd over same period in 2023

The Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid US fuel demand this summer

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025

Major oil producers appear to be colluding with each other and foreign cartelsto keep prices high, padding their profits at the expense of American consumers, lawmakers said

Officials said that temporary fluctuations in oil price as a result of soaring logistics costs and piracy risks may affect Indian oil supplies more