Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
Given that oil demand growth next year probably won't be much more than 1 million barrels a day, a full unwinding of OPEC+ supply cuts in 2025 would "undoubtedly see a very steep slide in crude prices, possibly toward $40 a barrel," Henning Gloystein, head of energy, climate and resources at Eurasia Group, told CNBC.
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand ...
Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures ...
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
Russia's crude oil output edged up in October by 9,000 barrels per day (bpd) to about 9.01 million bpd, the Organization of ...
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
THE Organisation of Petroleum Exporting Countries, OPEC, yesterday, said Nigeria’s oil output, excluding condensate, was ...
0116 GMT – Oil prices are mixed in early Asian trade. Market sentiment is likely weighed after OPEC cut its demand forecasts, Westpac senior economist Pat Bustamante writes in a note. In its monthly ...
OPEC and its allies, or OPEC+, are facing unfavourable backdrop for the plans to boost production as a potential crude ...
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