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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Tue, Feb 27, 2018
The soaring US production is upending global oil markets, coming at a time when a group of other major producers around Russia and the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC) have been voluntarily withholding output in order to prop up prices.
Fri, May 12, 2017
OPEC and other major producers had been enjoying higher prices since agreeing in November to slash production, a strategy designed to rid global markets of excess supply. But now the strategy appears to be not working.
Thu, Apr 06, 2017
Traders said the falls came on the back of rising U.S. crude production that bolstered inventories to record levels.
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