OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the Covid-19 pandemic on the back of output cuts and member ...

OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China's sputtering role as the ...

OPEC has a very different agenda than Trump and is not going to do what he wants just because he asks nicely.. One of President Trump’s first orders of business following the initial burst of ...

OPEC-Plus’s plan to hike production by 411,000 barrels of oil per day in July comes after its recent daily increases totaling 530,000 barrels for the purpose of curbing American production and ...

But OPEC has cut that robust projection in each of the last four months as those factors have not come about. The current forecast for 2024 in OPEC’s November report stands at 1.82 million bpd ...

OPEC said Monday it would reduce oil production next month, the cartel’s first output cut since the depths of the pandemic, as it braces for a global economic slowdown to hit demand.

BofA has estimated that non-OPEC countries will account for around 70% of market share in the first quarter of 2025. These countries have gradually outpaced OPEC+ since 2017, data from the bank ...

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.

OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group's leader Saudi Arabia seeks to ...

OPEC is an organization of 12 of the countries responsible for oil production in the world. It includes Algeria, the Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, ...

An oil port at Ras Tanura, Saudi Arabia, in 2018. The kingdom and seven other members of the OPEC Plus oil cartel will ramp up oil production by 411,000 barrels a day in July.