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MOSCOW, Oct 2 (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Wednesday that oil prices have increased as markets do not rule out a decline in oil supply due to the conflict in the Middle East. In televised comments after a meeting of top OPEC+ ministers kept oil output policy unchanged, including a …
Russia’s Novak Says Market Wary of Oil Supply Cuts Due to Middle East Conflict Read More »
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country’s facilities but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbours. Iran fired hundreds of missiles at Israel on Tuesday in response to Israeli airstrikes and attacks. Israel’s …
OPEC+ Could Cushion Iran Oil Shock But Not Broader Disruption Read More »
Summary Minister makes comments hours before OPEC+ committee meets Says many moving factors in short term including geopolitics Comments echo those of Russia’s Novak on Monday Says OPEC+ sacrificed more than other producers (Reuters) – United Arab Emirates Energy Minister Suhail al-Mazrouei said on Wednesday OPEC+ was doing a noble job of balancing the oil …
OPEC+ Doing ‘Noble’ Job of Balancing Oil Market, Says UAE Read More »
Summary OPEC+ joint ministerial monitoring committee meets on Wednesday Unlikely to change production agreement, two sources say Compliance with cuts by Iraq and Kazakhstan under scrutiny (Reuters) – An OPEC+ ministerial panel scheduled to meet on Wednesday is unlikely to recommend any changes to policy, allowing the group to start gradually increasing production from December, …
OPEC+ Set to Keep Output Policy Unchanged at Panel Meeting Read More »
Summary Riyadh unwilling to continue ceding market share, FT says OPEC+ sources say group focused on compliance not market share Russia says no changes to OPEC+ plans on phasing out oil cuts OPEC+ panel meets on Oct. 2 (Reuters) – The Organization of the Petroleum Exporting Countries and its allies will go ahead with a …
OPEC+ Set to go Ahead with December Oil Output Hike, Sources Say Read More »
By Alex Lawler and Fabio Teixeira 2045 demand forecast up 3 mln bpd from last year’s outlook OPEC extends forecast to 2050, with demand at 120.1 mln bpd OPEC sees no peak demand, unlike BP and IEA forecasts OPEC calls for $17.4 tln investment in oil industry by 2050 LONDON/RIO DE JANEIRO, Sept 24 (Reuters) …
OPEC Boosts Long-Term Oil Demand Outlook, Driven by Developing World Growth Read More »
(Reuters) – India wants oil producers group OPEC and its allies to raise oil output as there are countries such as India where fuel demand is rising, the nation’s oil secretary Pankaj Jain said on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, last week agreed to delay a planned oil …
India Wants OPEC+ to Raise Oil Output, Oil Secretary Says Read More »
(Reuters) – Goldman Sachs adjusted its expectations for OPEC+ oil production saying it now expects three months of production increases starting from December instead of October, the bank said in a note on Friday. OPEC+ has agreed to delay a planned oil output increase for October and November, the producers group said on Thursday after crude prices …
Goldman Sachs Expects OPEC+ Production Increases to Start in December Read More »
JPMorgan expects OPEC+ to maintain its current production levels for at least another year, leading to an average price of $75 for Brent crude in 2025, JP Morgan said in a note on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, on Thursday said they agreed to delay a …
JPMorgan Sees OPEC+ Holding Output Steady for Another Year Read More »
Sept 4 (Reuters) – If producer group OPEC+ doesn’t reduce production further, the average price of oil could drop to $60 per barrel in 2025 due to reduced demand and increased supply from non-OPEC countries, Citi said in a note on Wednesday. Citi said that while a technical rebound was possible, the market could lose …
Citi Says 2025 Oil Prices Could Average $60/bbl Without Deeper OPEC+ Cuts Read More »
