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OPEC, oil demand

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.

Seeking Alpha · 12h

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.

Bloomberg L.P. · 17h

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.

U.S. News & World Report · 1d

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.

Hosted on MSN · 10h

Opec cuts 2024 oil demand forecast amid weaker quarterly data

Global oil demand is expected to rise by 1.61 million barrels per day in 2024, a slight downwards revision from last month’s forecast of 1.82 million bpd, according to the latest figures released in Opec’s monthly oil market report on Wednesday.

China, Oil Prices

Hosted on MSN · 10h

Oil up on China's monetary policy shift

Oil prices rose on Wednesday, with market participants expecting demand to rise in China, the world's largest crude importer, after Beijing announced it would relax monetary policy to try to stimulate economic growth.

The Wall Street Journal on MSN · 20h

Oil Prices Edge Higher on China Stimulus Hopes

Crude prices edged higher in early European trade but continued to trade in a tight range on hopes of a recovery in Chinese demand and a Bloomberg report saying that the U.S. is mulling harsher sanctions against Russia’s oil trade.

invezz on MSN · 21h

Oil prices steady on rising China demand hopes and geopolitical tensions

Oil prices rose on Wednesday as investors hoped for a recovery in demand from China after Beijing announced to adopt a loose monetary policy to boost its economy. Heightened geopolitical tensions also raised concerns over supply of oil from the Middle East.

Oil settles up $1

Reuters on MSN · 10h

Oil settles up $1 as EU agrees further sanctions threatening Russian oil flows

Oil prices settled more than $1 higher on Wednesday after the European Union agreed to an additional round of sanctions threatening Russian oil flows that could tighten global crude supplies. Brent crude futures settled up $1.

U.S. News & World Report · 14h

EU Targets Russia's Ghost Fleet Shipping Oil in a New Round of Sanctions

European Union envoys have agreed a new raft of sanctions against Russia over its war on Ukraine, targeting in particular a vast shadow fleet of ships that Moscow is exploiting to skirt restrictions on transporting oil and fuel,

Voice of America · 7h

EU imposes new sanctions on Russia

The Associated Press reports the new sanctions are directed at some 50 “routinely decrepit” ships that Russia uses to avoid restrictions on transporting oil and fuel. "I welcome the adoption of our 15th package of sanctions,

Oil little changed as demand weakness offsets sanctions-driven supply risks

Oil prices were little changed in early Asian trade on Thursday as forecasts of weak demand and a higher-than-expected rise ...

U.S. oil prices top $70 for first time in over 2 weeks on concerns over tight supply

Crude-oil prices ended higher for a third straight session on Wednesday, with China’s plans to boost its economy expected to ...

MLive11h

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 ...

12h

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 ...

7hon MSN

OPEC again cuts 2024, 2025 oil demand growth forecasts

OPEC lowered its forecasts for 2024 and 2025 global oil demand growth on Wednesday in the fifth consecutive cut to the ...

New Jersey, home to many oil and gas producers, eyes fees to fight climate change

New Jersey is considering charging fees on producers of fossil fuels to help the state that is home to several oil and gas ...

18h

Exxon Raises Capital Spending as Worldwide Oil Glut Looms

Exxon Mobil Corp. will raise capital spending next year as it adds the $60 billion purchase of Pioneer Natural Resources Co.

19h

Ukraine strikes Russian port and claims oil depot hit

Ukraine struck a southern Russian port on the Azov Sea with missiles and triggered a fire at an oil depot in the western ...

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