(Investing) – Oil prices fell more than 1% on Friday and were headed for their first monthly drop since November, as markets braced for Washington’s tariff threats and Iraq’s decision to resume oil exports from the Kurdistan region. Uncertainty surrounding OPEC’s production resumption plans in April and ongoing talks to end the war in Ukraine also weighed on investor sentiment.
(BOE Report) – Bank of America expects Brent crude to average $75 per barrel in 2025 and $73 in 2026, citing low global oil inventories, balanced supply and demand, and about 5 million barrels per day of OPEC spare production capacity. The Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, had cut
(BOE Report) – OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady, but they increasingly risk losing control of the market. The Organization of
(Investing) – The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, is contemplating a delay in its planned monthly supply increases, which were set to begin in April. This decision is under consideration despite the request from US President Donald Trump for lower oil prices, Bloomberg News reported. The global oil markets are currently too unstable
(Investing) – LONDON – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 1.45 million barrels
(Investing) – Tuesday at the India Energy Week conference, OPEC Secretary General Haitham Al Ghais emphasized the organization’s commitment to long-term market stability over political considerations. This stance comes in response to U.S. President Donald Trump’s calls for increased oil production to lower prices. Al Ghais stated that OPEC’s decisions are based on technical analysis of the market, focusing on supply
(World Oil) – OPEC+ didn’t make any changes to its existing oil-production plans at a review meeting on Monday, even as President Donald Trump called on the group to lower crude prices. A panel of key members led by Saudi Arabia and Russia maintained plans to keep a lid on crude supplies for the rest of this quarter, and then
(Investing) – LONDON -OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government’s Energy Information Administration from the sources used to monitor its production and adherence to supply pacts. OPEC+ and Donald Trump clashed repeatedly during his first administration in 2016-2020 when the U.S. President demanded it raise production to
(Investing) – HOUSTON -Oil prices were held in check on Thursday by threatened U.S. tariffs on Canadian and Mexican crude that could take effect this weekend. Brent crude futures were up 27 cents at $76.85 a barrel at 11:05 a.m. CST (1705 GMT). U.S. crude futures were up 13 cents to $72.75. U.S. crude futures had settled at their lowest price this year
(Oil Price) – The Organization of Petroleum Exporting Countries (OPEC) has released its latest Monthly Oil Market Report (MOMR) that covers major issues affecting global oil markets and provides the outlook for crude oil market developments. OPEC has reiterated its earlier forecast that global oil demand will expand at a robust clip at 1.4 mb/d in 2025, largely driven by strong non-OECD (Organization
(Investing) – Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market, a Reuters monthly poll showed on Tuesday. The survey of 31 economists and analysts predicted that Brent crude would average $74.33 per barrel in 2025,
(Oil Price) – Oil demand growth next year is likely to be in line with this year’s tepid increase and the slower pace of growth compared to 2022 and 2023 would result in oil prices averaging $70 per barrel in 2025, Fitch Ratings said on Wednesday. This year, oil prices have averaged about $80 per barrel. “Fitch expects oil prices to decrease to
