You Searched For "organization of petroleum exporting" and got 20 results
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2 mins read
Surging oil prices could cause demand to crumble, forcing Saudi Arabia to take its 'foot off the brake' sooner than markets expect, energy exec says
"The odds are higher than the market is currently discounting that the Saudis will take their foot …
Filip De Mott
2 mins read
Oil prices could crash 50% if OPEC+ lets output rise and doesn't extend cuts through 2024, Citi commodities research chief says
Eliminating oil production cuts would be "so painful" for OPEC that the organization is likely to s…
Filip De Mott
1 min read
The biggest oil deficit since 2007 will hit in the 4th quarter as Saudi Arabia cuts supply
West Texas Intermediate crude prices climbed 2% to $89.05 a barrel after the OPEC data came out.
Filip De Mott
1 min read
OPEC says 'exaggerated concerns' about demand are hitting oil prices but still sees a slowdown in 2024
"The market dynamic was fuelled by exaggerated concerns about oil demand growth, which negatively i…
Filip De Mott
2 mins read
Record-breaking oil production from the US has left OPEC with its lowest crude market share in nearly a decade
The IEA said global oil demand has slowed sharply amid economic turmoil, while the US, Brazil, and …
Phil Rosen
2 mins read
Oil prices are crashing. Blame uncertain demand and booming US production.
US crude prices plunged below $70 a barrel on Wednesday, while brent dropped to $74 as the global d…
Phil Rosen
2 mins read
OPEC will gain more control of the oil market in 2024, and can raise production again in the 2nd half of the year, energy firm says
The oil cartel has cut the right amount of production to keep markets balanced to start next year, …
Phil Rosen
2 mins read
Here's why OPEC's production cuts haven't boosted the price of oil
Oil demand is uncertain at a time when supply is rising both from countries within OPEC+ and from p…
Phil Rosen
3 mins read
Crude oil market at the crossroads — S&P Global Commodity insights unveils in-depth 2024 energy outlook
According to S&P Global, against the backdrop of a turbulent global stage, characterized by economi…
ANI
1 min read
Oil giant Saudi Aramco points to lower crude prices as profits plunge 38% in the 2nd quarter
The state-run energy major reported about $30 billion in net profits last quarter, down sharply fro…
Phil Rosen
1 min read
Oil is here to stay with global demand set to jump 23% to 110 million barrels a day by 2045, OPEC says
"Gas hydro, nuclear hydrogen and biomass will expand. But it is clear that oil remains an integral …
Zahra Tayeb
1 min read
Russia's cheap crude sends OPEC's market share in India to a record low
Russia now supplies India with more than a third of its oil imports, versus less than 1% before Mos…
Phil Rosen
2 mins read
A key global oil price zoomed past $90 a barrel for the first time in 2023 — and analysts say it could keep inflation high
Prices spiked because oil giants Saudi Arabia and Russia said they plan to extend the production cu…
Huileng Tan
5 mins read
The bloc of countries that wants to overthrow the US dollar is set to gain 6 new members here's what the potential recruits have said about de-dollarization
Brazil, Russia, India, China, and South Africa have invited Saudi Arabia, Argentina, Egypt, Ethiopi…
Huileng Tan
1 min read
Brace for oil prices to spike toward $100 a barrel with OPEC's cuts set to squeeze supply in time for driving season, energy analyst says
OPEC+'s surprise decision to squeeze supply in time for the driving season could boost oil prices, …
Zinya Salfiti
2 mins read
Saudi Arabia could deepen production cuts beyond 1 million barrels per day if Brent futures drop below $70/barrel: analyst
Oil prices jumped by 2% on Monday after Saudi Arabia announced a production cut of a million barrel…
Nidhi Pandurangi
1 min read
Brace for a 'bump at the pump' as OPEC's surprise output cut could send gas prices above $4 a gallon, say analysts
A surge in gas prices due to OPEC+'s crude output cuts would come as a blow to American drivers who…
Zahra Tayeb
2 mins read
The EU ban on Russian oil and the $60 per barrel price cap is costing the Kremlin over $170 million a day, think tank says
Russia is losing $170 million a day after the latest sanctions, and losses could mount to $300 mill…
Jennifer Sor
3 mins read
India plans to achieve 50 pc non-fossil installed capacity by 2030: PM Modi at G20 Energy Meeting
Laying emphasis on country's climate commitments, Prime Minister Narendra Modi on Saturday said tha…
ANI
2 mins read
The banking crisis hammered crude oil prices so much that OPEC stepped in with a shock 1 million-barrel-a-day production cut
The WTI and Brent crude oil futures jumped as much as 8% and were both 5.6% and 5.4% higher at $79.…