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By Ahmad Ghaddar, Alex Lawler and Yousef Saba Full OPEC+ meeting takes place on Wednesday Eight OPEC+ members meet on Saturday to decide on July output UAE says OPEC+ must be mindful of rising oil demand For an EXPLAINER on OPEC+ output cuts, click here LONDON/DUBAI, May 27 (Reuters) – OPEC+ is likely to agree …
OPEC+ Set to Agree July Oil Output Hike This Week, Sources Say Read More »
By Robert Harvey and Enes Tunagur Hikes 2025 global supply growth forecast by 380,000 bpd Oil demand growth to slow to 650,000 bpd in rest of year Expects lower oil prices to hit US shale oil output growth Revises up 2025 total demand forecast LONDON, May 15 (Reuters) – World oil supply will rise more …
Global Oil Supply to Rise Faster Than Expected After OPEC+ Hike, IEA Says Read More »
By Alex Lawler LONDON, May 8 (Reuters) – OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the flows and smaller drops in Iraq and Libya. The Organization of the Petroleum Exporting Countries …
OPEC April Oil Output Edges Lower Despite Plans for Hike, Survey Finds Read More »
By Ron Bousso Global refining profit margins above 2024 levels Traders refilling depleted diesel inventories after cold winter Gasoline demand set to rise ahead of summer LONDON, May 8 (Reuters) – Global oil refineries’ strong profit margins signal healthy oil consumption today, a stark contrast with the grim long-term demand outlook. Sentiment in the oil …
Oil Refiners’ Robust Profits Defy Souring Outlook Read More »
By Julian Lee and Alex Longley When US President Donald Trump was inaugurated to his second term as president on Jan. 20, oil prices were close to the highs of the summer before. By early May, they had plunged by nearly a quarter. That’s for two big reasons: Trump’s trade war is driving down economic …
How Tariffs and OPEC+, Oddly Enough, Are Driving Down the Price of Oil Read More »
(Reuters) – The oil market appears to be telling Saudi Arabia that its shift to pumping more oil after five years of cutting output was well timed. The kingdom has in recent weeks pushed fellow OPEC+ members to produce more oil despite fears about an economic slowdown, a marked change in policy that helped oil …
Oil Market ‘Smile’ Suggests Saudi Arabia’s Output Shift Was Well Timed Read More »
By Liz Hampton (Reuters) – Hello Power Up readers! Oil futures are down more than 1% today after the Organization of the Petroleum Exporting Countries and allies decided to speed up oil output hikes. This comes after Brent shed more than 8% last week, and U.S. West Texas Intermediate (WTI) fell by 7.5% over the …
If there is one thing that is almost certain in the current global crude oil market, it’s that the stated reasons for the OPEC+ group of exporters increasing supply are not the real reasons.The eight OPEC+ countries that are party to voluntary output cuts met on May 3 and decided to ease their curbs again …
COMMENTARY: OPEC+’s ‘Healthy’ Crude Oil Market Looks like Catching a Cold: Russell Read More »
Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia’s ability to handle lower oil prices. The Wall Street bank expects the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to …
Goldman Sachs Sees 410,000-Bpd Hike in OPEC+ June Supply Read More »
(Reuters) – A meeting of eight OPEC+ countries to decide on their plan for oil production policy in June will now take place on Saturday instead of Monday as originally planned, three sources with knowledge of the matter told Reuters on Friday. It was not immediately clear why the meeting was brought forward. The eight …
OPEC+ Moves Forward its Meeting to Saturday, Sources Say Read More »
