Post Tagged with: "supply deficit"

Source: Reuters

IEA sees OPEC+ cuts pushing oil markets into a supply deficit

Oil Price


The oil market is shifting from a surplus to a supply deficit that will last for all of 2024 if OPEC+ further extends its production cuts until the end of the year, the International Energy Agency (IEA) said …

March 14, 2024 - 11:47 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Global oil markets on track for “sharp” supply deficit, OPEC data shows

World Oil


(Bloomberg) – Global oil markets are on track for a sharp supply deficit of more than 2 MMbpd this quarter as Saudi Arabia slashes production, OPEC data indicate. Output from the Organization of Petroleum Exporting Countries tumbled last …

August 10, 2023 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil prices near 1-year highs after stocks drawdown, supply deficit forecast

Reuters


LONDON – Both benchmark oil contracts hovered near their highest levels in about a year on Wednesday, boosted by a drawdown in U.S. crude and gasoline stocks that added to demand recovery hopes fueled by OPEC+’s forecast of a …