Tag Archives: OPEC+

On Monday, oil prices recovered from earlier losses after Saudi Arabia had denied news alleging that it was discussing an increase in oil output with OPEC and allies. Brent crude futures for January settled at $87.45, shedding 17 cents. WTI crude futures for December settled at $79.73 per barrel, falling …

As early as the beginning of 2022, the-then Italian PM Mario Draghi suggested a dangerous idea that large oil buyers could form a new club or sort of forum together and challenge OPEC+. The idea did not take further steps into reality because one obvious problem could not be ignored, …

On Monday, OPEC lowered its forecast for global oil prices in 2022, the price of oil in car prices. The Bureau of Petroleum Exporting Pictures (OPEC) said in a monthly report that oil demand in 2022 will rise by 2.55 million barrels per day, or 2.6 country houses. OPEC Oil …

An annual forecast report released on Monday showed that OPEC raised its forecast for global oil demand in the medium and longer term, and said that $12.1 trillion in investment is needed until 2045 to meet this demand, despite efforts to shift to clean energy sources. In the report, OPEC …

President Joe Biden announced a plan on Wednesday to sell off 15 million barrels of American crude oil from the emergency supply and begin refilling the reserve as he tries to contain high fuel prices ahead of midterm elections scheduled on November 8.Biden’s decision came two weeks after the OPEC+ …

The WTI crude oil drops from daily highs of $86.40s to $82.20s on Tuesday. Chinese economic indicators remain delayed, with no rescheduling assigned by the government. The US will release oil from its SPR reserve to keep gasoline prices down.The US crude oil declined more than 3% on Tuesday amidst …

WTI is paring its earlier losses and prints gains of almost 0.40% on Monday as China’s continuing losing monetary policy, would likely make up for any reduced demand amidst high inflation and an economic deceleration, sparked global recession fears. At the time of writing, WTI is trading at $85.33 per …

US stocks fell on Friday, as rising inflation expectations kept alive fears that the path of aggressive Federal Reserve interest rate hikes could lead to a recession. In the final session of a volatile week, stocks opened higher before changing course after data from the University of Michigan showed consumer …

The West Texas Intermediate crude oil is under pressure during the US trading session following US hot inflation reading release that has caused risk aversion across financial markets.At the time of writing, WTI is down around 0.6% is recovering to the $88.28 high after managing to rise from earlier fresh …

The International Energy Agency said on Thursday that the decision of the OPEC + group of oil producers last week to curb production led to higher prices and could push the global economy into recession. It stated in its monthly oil report that with persistent inflationary pressures and higher interest …