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The US and other crude producers will take more oil market share from OPEC in the coming years, Bank of America says
OPEC+ nations will lose market share to non-member states in the coming years, BofA said. The OPEC+ decision to delay production increases is unlikely to boost oil prices, the bank said.Some coalition members are producing above their quota,
Key members of OPEC+ alliance are putting off production increases amid slack crude prices
Eight members of the OPEC+ alliance of oil exporting countries have decided to put off increasing oil production as they face weaker than expected demand and competing production from non-allied countries — factors that could keep oil prices stagnant into next year.
Crude oil rises by most in two weeks as OPEC+ expected to extend output cuts
Crude oil futures rose on OPEC+ production cut extension expectations. Geopolitical tensions also supported gains.
Oil prices climb after OPEC+ again delays phase-out of production cuts
Oil futures climbed Thursday after the Organization of the Petroleum Exporting Countries and its allies, as expected, agreed to further postpone a proposed unwinding of production cuts in the face of ample global supply and shaky demand from China.
Opec+ extends oil production cuts in bid to support prices
Oil producer group Opec+ on Thursday significantly scaled back its plans for production in 2025 in an effort to support prices. The group, led by Saudi Arabia and Russia, said it would push back a plan to start gradually reintroducing 2.
Members of the OPEC+ oil producers' alliance postpone production increases as crude prices stagnate
Members of the OPEC+ oil producers' alliance postpone production increases as crude prices stagnate.
Oil prices little changed after OPEC+ members delay production increase until April
Oil prices were little changed on Thursday after OPEC+ members agreed to delay plans to increase production. U.S. crude oil down 2 cents, or 0.03%, to $68.52 per barrel at 8:26 a.
23h
Oil set for weekly loss on surplus fears despite OPEC+ cut extensions
Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone ...
2d
on MSN
U.S. Crude Oil Stockpiles Fall More Than Expected
U.S. crude oil inventories fell more than expected last week and product stocks saw a buildup as refineries ramped up their ...
1d
Russian Flows of Crude via Druzhba Into Czech Republic Restart
The flow of Russian crude oil via the Druzhba pipeline into the Czech Republic has restarted, according to Orlen SA, a ...
18h
Crude Oil Price Outlook – Crude Oil Continues to Trade in a Range
The crude oil markets that I follow here at FX Empire are both doing the same thing, which is to say they are testing the lower end of the range that they have been in for some time. At the end of the ...
Crude Oil Prices
20h
China and OPEC+ Provide Support for Oil Prices
Crude oil prices find support from OPEC+ production cuts and China’s economic recovery, but geopolitical tensions, demand ...
3d
Russia's crude oil and LNG shipments to Asia slip slightly in 2024
Asia's imports of Russian crude oil and liquefied natural gas are set to log small declines this year and while coal had a ...
Daily Post Nigeria on MSN
19h
Fisayo Soyombo: You don’t need to borrow, we have crude oil – Adeyanju to Tinubu
Human rights lawyer and activist, Deji Adeyanju, on Friday urged President Bola Tinubu's administration to curb illegal crude ...
Crude Oil Prices
2d
Oil Prices Tick Higher on Crude Inventory Draw
Crude oil prices rose following a surprise inventory draw reported by the EIA, but concerns about global demand persist.
2d
Russia’s Oil Revenues in November Took a Hit Amid Crude Slump
The Kremlin’s oil revenues in November fell from a year earlier for a second consecutive month, spurred by lower prices for ...
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