OPEC trims its China crude demand forecast, but nowhere near enough
OPEC cut its estimate for China's crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports.
Why OPEC is downgrading its demand forecast for the 3rd time in 3 months
​OPEC is now forecasting that demand for oil will grow more slowly than it had previously expected for the rest of this year and for 2025. It’s the third time in as many months that the Organization of the Petroleum Exporting Countries has downgraded its forecast.
OPEC Further Trims Oil-Demand Outlook
The Organization of the Petroleum Exporting Countries further trimmed its forecast for oil-demand growth, as it prepares to bring some barrels back into the market despite weaker global prices.
Oil falls 2% as OPEC cuts oil demand growth view, China concerns
Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month. China's stimulus plans failed to inspire investor confidence while markets kept watching for potential Israeli attacks on Iranian oil infrastructure.
OPEC Cuts Oil Demand Outlook, Again
Crude oil futures fell 2% Monday after OPEC reduced its oil demand outlook for 2024 and 2025 once again, citing data received so far this year.
OPEC Cuts Global Oil Demand Growth Forecasts for Third Consecutive Month
OPEC trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognizes a slowdown in global fuel use.
OPEC cuts 2024, 2025 global oil demand growth view again
OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the producer group's third consecutive downward revision.
Oil prices tumble as OPEC cuts demand outlook
Oil prices (CL=F, BZ=F) fall after OPEC cut its forecast for global oil demand in 2024. Yahoo Finance's Ines Ferré joins Market Domination Hosts Julie Hyman and Josh Lipton to break down the intraday moves in oil prices and how it ties to investor sentiment about China's ongoing stimulus efforts.
IEA Trims Oil-Demand Forecast for Third Consecutive Month
The International Energy Agency trimmed its forecast for this year’s oil-demand growth for the third month in a row, as a rapid slowdown in Chinese consumption weighs on the global outlook.The Paris-based organization forecasts global demand to grow by 862,
What Investors Should Note From OPEC's Monthly Oil Market Report
Investors interested in the energy sector could benefit from focusing on resilient stocks like Diamondback Energy, ExxonMobil ...
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OPEC Oil Production Dipped by 600,000 Bpd in September Amid Libyan Blockade
11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient OPEC’s crude oil production ...
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OPEC Ranks African Countries With Highest Oil Rigs, Scores Nigeria Low as Dangote Begins New Project
The Organisation of Petroleum Exporting Countries (OPEC) said Nigeria's crude oil exploration dipped by 6.7% as the country's ...
June Non-OPEC And World Oil Production
June Non-OPEC oil production increased by 106 kb/d to 52,549 kb/d. The largest increases came from Canada and Brazil while ...
How Saudi Arabia could create a crisis for Russia's economy
Saudi Arabia has signaled that is is ready to flood the market with oil if OPEC doesn't commit to curbing supply. That bodes ...
Middle East Conflict Creates a Volatile Moment for Oil Markets
Israel and Iran are fighting at a time when prices are under pressure because of weak demand in China and concerns about ...
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OPEC Fund provides first tranche of $25 mln to Tajikistan for Rogun HPP project
DUSHANBE. Oct 11 (Interfax) - The OPEC Fund for International Development or OPEC Fund has signed an agreement with Tajikistan on providing the first $25 million to build the Rogun hydropower plant ...