Oil Prices Rise Despite OPEC Cutting Demand Outlook

OPEC makes fifth and biggest cut to 2024 oil demand growth forecast
OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group's fifth consecutive downward revision.
Brent Crude - Oil Prices Rise Despite Largest OPEC Forecast Cuts Of 2024
Oil prices continued its steady move higher on Wednesday, up around 1.27% at the time of writing. This is a slight surprise given that OPEC downgraded its 2024 and 2025 forecasts.
OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast
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.
Oil Prices Trim Gains as OPEC Again Cuts Oil Demand Growth Outlook
(Reuters) -Oil prices were up about 1% on Wednesday having pared gains after producers group OPEC cut its forecasts for demand growth in 2024 and 2025. OPEC in its monthly reports has lowered its outlook five consecutive times.
Weekly Crude Inventories Fall More Than Expected; Oil Prices Rise Despite OPEC Cutting Demand Outlook
Commercial crude stockpiles in the US fell more than projected last week, government data showed Wednesday, while oil prices climbed even as the Organization of the Petroleum Exporting Countries lowered demand forecasts for 2024 and 2025.
OPEC Revises Oil Demand Growth Forecast Lower For Fifth Straight Month: Retail’s Pessimistic
The Organization of the Petroleum Exporting Countries trimmed its oil demand growth forecast for the fifth straight month according to its monthly oil market report. OPEC revised its global oil demand growth forecast for 2024 lower by 210,

Oil settles up $1

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U.S. oil prices top $70 for first time in over 2 weeks on concerns over tight supply
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Biden’s approval of an oil lease sale will keep the door open to drilling in Alaska’s Arctic refuge
JUNEAU, Alaska (AP) — The Biden administration has approved plans for a sale of oil and gas leases in Alaska that leaves open ...
Britain Promised Clean Energy, but It Still Needs Oil
The government wants to rapidly replace oil and natural gas with renewable energy projects, but offshore wind and other ...
Yellen Sees ‘Opportunity’ for Action Against Russia in Softer Oil Market
US Treasury Secretary Janet Yellen said that a softer global oil market might create an opportunity for further action ...
Colombia's Ecopetrol signs agreements with Parex Resources to develop oil, gas
Colombia's majority state-owned energy company Ecopetrol on Wednesday said it has signed five agreements with Canada's Parex ...
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Oil and Gas Industry Anticipates Regulatory Rollbacks Under Trump
The article analyzes the global implications of Donald Trump's election victory, focusing on the economic, energy, and ...