Articles for Opec Supply

Oil traders stay bullish as Brent hovers at $90: ‘Crude to stay elevated even if Middle-East tensions cool down’
9 months ago

Oil traders stay bullish as Brent hovers at $90: ‘Crude to stay elevated even if Middle-East tensions cool down’

Live Mint  

Crude price outlook: Morgan Stanley hiked its Q3 Brent crude outlook by $4 to $94 over geopolitical conflicts, while other analysts see a supply deficit of one million barrels per day in 2024 due to the prevailing OPEC cuts. Morgan Stanley hiked its Q3 Brent crude outlook by $4 to $94 over geopolitical conflicts, while analysts see a supply deficit …

Growth Market Middle East Supply Oil Prices High East
Oil down 2%, posts weekly loss as investors see limited effect of OPEC+ cuts
1 year, 1 month ago

Oil down 2%, posts weekly loss as investors see limited effect of OPEC+ cuts

Live Mint  

Oil prices declined more than 2 per cent in the previous session as investors remained cautious over the depth of supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, settled lower by 0.8 per cent at ₹6,231 per bbl, having …

Prices Oil Prices Cent Opec Cuts Oil
OPEC keeps oil supply cuts amid uncertainty about effect of Russian sanctions
2 years, 1 month ago

OPEC keeps oil supply cuts amid uncertainty about effect of Russian sanctions

LA Times  

The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. The decision at a meeting of oil ministers Sunday comes a day ahead of the planned start …

Europe Russia Market Oil Prices Price Russian
US senator wants ‘freeze’ on Saudi cooperation after OPEC+ cuts
2 years, 3 months ago

US senator wants ‘freeze’ on Saudi cooperation after OPEC+ cuts

Al Jazeera  

The US has accused Saudi Arabia of helping underwrite Russia’s war in Ukraine as the supply cut will raise oil prices. Chairman of the United States Senate Foreign Relations Committee Bob Menendez called on Monday for a “freeze” on cooperation with Saudi Arabia after Saudi-led OPEC+ announced an oil production cut last week despite pressure from the US. The US …

Ukraine Russia Saudi Arabia Oil Prices Saudi Cut Menendez
Start of another oil supercycle? Unlikely, says IEA
3 years, 9 months ago

Start of another oil supercycle? Unlikely, says IEA

Live Mint  

Oil prices are unlikely to mount a dramatic and sustained surge despite vaccines expected to boost demand later this year, the International Energy Agency said on Wednesday, with the world still awash in oil. "For a start, oil inventories still look ample compared with historical levels despite a steady decline. The Organization of the Petroleum Exporting Countries and its allies, …

Iea Opec Supply