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Oil prices fall on supply glut fears despite OPEC+ output cut extension
Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone planned supply increases and extend deep output cuts to the end of 2026.
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.
Crude oil prices remain steady after OPEC+ delays plans to restore output again
October, with bullishness from geopolitical developments in the Middle East and Ukraine countered by expectations for a glut in 2025 due to higher output from the Americas and lackluster Chinese demand.
Oil prices drop, set for weekly loss even after OPEC+ extends output cuts
Oil prices fell 1% on Friday and were headed for a weekly loss as analysts projected a supply surplus next year despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.
Crude oil adds to losses as OPEC+'s extended output cuts leave market indifferent
Crude oil futures fell on Friday end tallied losses for the week, a day after the decision by OPEC and its allies to further postpone a planned reversal of production cuts failed to ease the outlook for a crude surplus.
Oil Holds Tight Range After OPEC+ Extended Output Cuts
Oil prices continued to trade in a tight range despite OPEC+’s decision to push back a series of supply increases amid growing concerns over weaker demand and a looming supply surplus.
Oil posts weekly loss despite Opec+ extending voluntary output cuts
Oil posted a weekly loss as analysts projected a “significant” supply surplus in 2025, despite an Opec+ decision to extend its voluntary output cuts of 2.2 million barrels a day until the end of March next year.
1d
on MSN
The US and other crude producers will take more oil market share from OPEC in the coming years, Bank of America says
The US and other oil-producing nations will account for the bulk of crude supply growth in 2025, Bank of America said.
Hosted on MSN
2d
Are Crude Oil Prices Going Lower?
Barchart article on crude oil, I addressed whether crude oil will hold technical support after the 2024 U.S. election. I ...
Crude Oil Prices
1d
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 ...
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 ...
3d
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 ...
Crude Oil Prices
3d
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.
1d
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 ...
2d
on MSN
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 ...
Daily Post Nigeria on MSN
1d
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 ...
4d
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 ...
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