Will OPEC back down from its optimistic forecasts on demand?

Two sources from “OPEC +” said that “OPEC” is likely to revise down its forecast for oil demand growth in 2022 on Monday, as the spread of the “delta” strain of “Covid-19” casts doubt on the speed of recovery in fuel consumption. On September 1, separate sources said that the Organization of the Petroleum Exporting … Read more

Oil prices continue to decline as OPEC+ production increases

Oil futures prices continued to decline during trading today, Thursday, with the countries of the OPEC Plus group announcing their agreement to continue increasing production by 400,000 barrels per day during the current month, as part of the grouping agreement to recover the huge quantities that had previously been reduced from production in April from … Read more

OPEC + approves its strategy to gradually increase production

Members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies on Wednesday approved the strategy decided on in mid-July and will modestly increase their production next month, the cartel announced after an expeditious ministerial summit. Opec + “once again confirms (…) the upward adjustment of overall monthly production of 400,000 barrels per … Read more

India seeks to cut oil prices as fuel prices rise | latest news

India is in talks with crude producers about getting oil at lower prices after tax-laden gasoline and gasoil prices jumped to record levels in Asia’s third-largest economy, driving up inflation. India is the third largest importer and consumer of oil in the world and imports more than 80% of its oil needs from abroad. “The … Read more

Bags all in red, the fears for the Delta variant weigh. Oil prices down after the OPEC agreement on increased production

The pandemic returns to scare the markets. European stock exchanges all in red on Monday on fears over the spread of Delta variant which worries investors rekindling fears for the recovery economic. At the same time also weighs the price drop of Petroleum, after Sunday the meeting of theOpec agreed to loosen supply cuts starting … Read more

OPEC and its allies agree to increase oil production to lower prices

Drafting BBC News World July 19, 2021 Image source, Getty Images Caption, Oil price has recovered to pre-pandemic levels The Organization of Oil Producing and Exporting Countries (OPEC), which includes Venezuela, and its associated countries, led by Russia, agreed this Sunday to increase crude production with a view to reducing prices and easing pressure on … Read more

Oil prices continue to decline, and US crude is below $ 70 a barrel, after “OPEC Plus” agreed to increase production

Oil prices extended their decline with the opening of the American market on Monday, to continue its losses for the fourth consecutive day, recording the lowest level in six weeks, with American crude trading below $ 70 a barrel and Brent crude below $ 71, after the “OPEC Plus” alliance officially agreed to increase production … Read more

OPEC + agrees on a further gradual increase in production

The world’s largest oil-producing countries agreed on Sunday to continue to increase production moderately from August. Content will continue after the ad Advertising Oil producer country organization OPEC and its allies agreed to increase production by 400,000 barrels per day each month to help the world recover from the pandemic, OPEC said in a statement. … Read more

European stocks experienced the worst day in nine months

European stocks have the worst day in nine months, with the pan-European STOXX Europe 600 index closing today’s trading down 2.32 percent to 444.19 points. Investors are concerned about the effects of the spread of the more contagious coronavirus delta mutation on the recovery of the world economy. Banks, mining companies and companies operating in … Read more

OPEC + agrees on further gradual increase of production volumes :: Dienas Bizness

The world’s largest oil-producing countries agreed on Sunday to continue to increase production moderately from August. OPEC and its allies agreed to increase production by 400,000 barrels a day each month to help the world recover from the pandemic, OPEC said in a statement. “Market development” will be reassessed in December. The agreement envisages postponing … Read more