Tag Archives: OPEC+

The Organization of the Petroleum Exporting Countries (OPEC) on Thursday maintained its forecast for relatively strong growth in global oil demand in 2023 and 2024, citing signs of a resilient global economy so far this year and forecasting increased demand in China. The organization stated in a monthly report that …

Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Tuesday that the world’s major oil producers and representatives of this sector will participate in the United Nations Climate Change Conference (COP28), scheduled to be held in the UAE next month. Al Ghais said that anyone …

The Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand in the medium and long term in an annual forecast, saying $14 trillion in investments are needed to meet that demand even as the use of renewable fuels increases and more electric cars appear on …

The price of oil has increased by more than 25% so far this quarter. Analysts predict that Brent will surpass $100 in the near future. They do not think it will be sustainable, though. The last time Brent was seen trading above $92 a barrel.Although the oil price surge is …

Due to Saudi Arabia and Russia’s agreement to reduce output by 1.3 million barrels through the end of the year, WTI crude oil is currently trading at $86.62. Oil prices are supported by China’s strong economic indicators and Japan’s probable end to negative interest rates.As supply cuts from Saudi Arabia …

The G-20 leaders decided on Saturday to implement the reporting framework for digital assets quickly since a sizable portion of their members want information exchange on these non-financial assets to begin by 2027. To prevent tax evaders from hiding their unreported wealth with such non-financial assets, the Crypto Asset Reporting …

Prior to settling around $85.50, WTI reached the support level of $85.32. Investors are still assessing the Friday-released August US NFPs. OPEC expected that its voluntary production caps would remain in place. The WTI crude barrel traded neutrally in the $85.50-$86.00 band, close to multi-month highs, thanks to the falling …

India’s Oil Minister, Hardeep Singh Puri, told the media that his country would buy oil from all available sources at the “lowest possible prices”. India has been buying crude oil from Russia, now its biggest supplier, at discounts since the West imposed restrictions on imports from Moscow following its invasion …

Shipping data from commercial and industrial sources showed that India’s imports of crude oil from Russia fell in July for the first time in nine months, and shipments from Saudi Arabia fell to the lowest level in two and a half years after production cuts from OPEC +. China and …

At the time of writing, the price of a barrel of WTI crude oil is $80.292. On the whole, it is down nearly -1.86%. In response to the economy’s sluggish recovery, China’s central bank lowers crucial lending rates, which affects the outlook for global oil consumption. Saudi Arabia and Russia’s …