OPEC Could Extend Production Cuts To Support Oil Prices
Oil prices have been under pressure from high interest rates, a strong dollar, and high U.S. oil production. OPEC could extend oil production cuts to support prices.
OPEC+ may stick with deep oil cuts for longer due to weak demand
OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more,
OPEC Likely to Stick to Output Cuts for Another Month
OPEC will likely remain committed to production curbs for yet another month, the energy minister of Azerbaijan told Reuters ahead of the group’s Sunday meeting. “OPEC+ could or couldn't discuss oil output rollover at its next meeting. It is difficult to prejudge,” Parviz Shahbazov told the publication.
Oil prices rise ahead of postponed OPEC+ meeting
Oil futures rose on Monday, bouncing after losing ground in a choppy November in response to a cease-fire between Israel and Iran-backed Hezbollah.
OPEC+ production cuts may support oil prices in near term, Goldman Sachs says
Crude production from Iraq, Kazakhstan, and Russia has declined in compliance with OPEC+ production cuts, supporting a modest near term upside to Brent prices, Goldman Sachs said.
Goldman Sachs: OPEC+ Cuts Provide Near-Term Upside to Oil Prices
OPEC+ is expected to extend its production cuts into 2025, which Goldman Sachs sees as providing near-term support for oil prices.
Oil Rises on Chinese Data, OPEC+ Expectations
Oil prices rose in early European trade, supported by Chinese factory activity growth and expectations that OPEC+ will further delay its planned output hike at a meeting this week.
OPEC+ output cuts extended: a difficult decision amidst market uncertainty
OPEC's hands are tied as the cartel will look to navigate indecision within the group to extend production cuts beyond 2024.
OPEC+ Postpones Meeting On Oil Output To December 5
The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were ...
OPEC Faces Strategic Decisions As Oil Market Challenges Intensify
OPEC and its allies, collectively known as OPEC+, are grappling with crucial decisions as global oil markets display signs of ...
OPEC+ may extend output cuts to prevent oil glut: UBS
OPEC and allies are expected to extend its voluntary production cuts beyond December, analysts at UBS were quoted in a report ...
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Market Circumstances Not Supportive of OPEC+ Cut Unwind, StanChart Says
We think the best strategy is a delay in unwinding, perhaps even well beyond the end of Q1', Standard Chartered analysts said ...
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Azerbaijan says OPEC+ may extend oil output cuts at December meeting
OPEC+ may consider leaving its current oil output cuts in place from Jan. 1 at its next meeting on Dec. 1, Azerbaijan's Energy Minister Parviz Shahbaz ...
Brent Crude - Oil Eyes Recovery As OPEC+ Deliberate Oil Cut Rollover
Adding to Brent Crude’s challenges were rumors that Donald Trump may slash the red tape around oil drilling on Federal lands.