Tue, Dec 17, 2024
The global oil market is projected to return to surplus in 2025, even as OPEC+ extends supply cuts to stabilize prices, according to an ING report. This surplus, though modest, is expected to exert downward pressure on oil prices, with Brent crude likely to average around USD 71 per barrel next year.
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Wed, Apr 05, 2023
Several OPEC+ members have decided to voluntarily cut their oil production by more than a million barrels per day. Russia has also extended a cut of 500,000 barrels per day. But despite of the fresh oil cuts, Russia is going to benefit greatly from it.
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