He oil that is quoted in New York stabilized after immersing himself again at the level of US $ 60 because an adverse economic panorama threatens energy demand perspectives and takes investors to avoid the most risky assets. The Futures of the West Texas Intermediate traded near US $ 69 a barrelafter Fall 2.5% on […]
Tag: OPEC
OPEC projects an increase in oil demand in 2025
OPEC continues to project a rise in demand for oil In 2025 and 2026, driven by transport and an increase in air traffic, said the organization of crude oil export countries in a monthly report published Wednesday. Global oil consumption will rise to 105.1 million barrels per day (MBD) in 2025, after reaching 103.75 MBD […]
Despite the US pressure, the OPEC+ will not immediately increase the supply of crude
The Middle Supervision Committee (JMMC) of the OPEC+chaired by Saudi and Russia Arabia, he decided on Monday to maintain his plan to gradually increase the supply of crude from April, despite the request of the president of USA, Donald Trump, to immediately reduce oil prices. The Committee decided not to recommend an immediate increase in […]
The IEA forecasts lower growth in crude oil demand for 2024
The International Energy Agency (IEA) this Wednesday revised downwards the increase in global demand for Petroleummainly due to the net reduction in Europe. The new forecasts, included in the monthly report on the crude oil market published today, establish an increase in global demand of 1.1 million barrels per day in 2024, 140,000 less than […]
The IEA expects global oil demand to slow in 2024
The global demand for Petroleum will slow down this year, with a projected growth of 1.2 million barrels per day compared to the increase of 2.3 million in 2023, the International Energy Agency announced this Thursday. (IEA). Last year ended with an average demand of 101.8 million barrels per day and in 2024 it is […]
Global oil falls due to increase in OPEC supply and price cut by Saudi Arabia
The price of Texas intermediate oil (WTI) opened this Monday with a drop of 3.96% and stood at US$70.89 a barrel, after Saudi Arabia announced yesterday a cut in crude oil prices for its Asian clients . At 9:01 a.m. local time (14:01 GMT), WTI futures contracts for delivery in February were down US$2.92 compared […]
OPEC+ opts for “voluntary cuts” in crude oil supply in 2024
The OPEC+ alliance decided this Thursday that oil supply levels will be adjusted next year with “voluntary” cuts by most of its partners, such as those extended by Riyadh and Moscow until March 31, 2024. Brazil also announced its annexation from 2024. That is the result of the teleconference held today by the Ministers of […]
Oil prices fall due to concerns over the delay of the OPEC meeting
Oil prices fell approximately 1% on Thursday, November 23 due to speculation that OPEC+ may not deepen production cuts next yearafter the group postponed a meeting, according to Reuters. The futures of Brent They were down 61 cents or about 0.7% at US$81.35 a barrel at 5.34 pm (GMT), after falling as much as 4% […]
Saudi Arabia and Russia to continue additional voluntary oil cuts
The main exporters of Petroleum, Saudi Arabia and Russiaconfirmed on Sunday that they will maintain their additional voluntary oil production cuts until the end of the year, as concerns about demand and economic growth continue to weigh on crude markets. Both countries indicated that they will review their cuts next month to study the possibility […]
Venezuelan PDVSA signs occasional sales contracts and demands advance payment
The Venezuelan state oil company, PDVSAhas signed at least two new specific contracts to export fuel oil and asphalt cement, demanding that its clients advance payments in euros, according to company documents. Last week, the United States issued a license allowing the OPEC country to freely export oil, fuel and gas to its chosen markets […]