Oil prices surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data had boosted market optimism
lowered its end-2023 production forecast for OPEC+ by 1.1 million bpd and raised its Brent price forecasts to $95 and $100 a barrel for 2023 and 2024 respectively, it said in a note.and some analysts questioned the rationale for the additional cut.
"They will have nothing of it," Schieldrop added, citing the group's likely concern over rising Western interest rates and the global banking system.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Saudi Arabia, OPEC+ producers announce voluntary oil output cutsThe Saudi energy minister said it was a precautionary measure to support the stability of the oil market.
Weiterlesen »
Oil stocks jump on Saudi oil production cutOil stocks jumped premarket Monday after Saudi Arabia’s Ministry of Energy led a surprise oil production cut across several OPEC+ nations. On Sunday the...
Weiterlesen »
USD/CAD retreats from 1.3500 as OPEC’s surprise cut drives oil price, US PMI eyedThe USD/CAD has retreated from 1.3520 after a rebound attempt followed by a gap-down opening from 1.3488 in the early Tokyo session. The Loonie asset
Weiterlesen »
Goldman Sachs raises Brent oil price forecasts after OPEC+ output cutsGoldman Sachs (GS) revised up its Brent Oil price forecast for December 2023 by $5 to $95 a barrel, as well as increasing the December 2024 forecast b
Weiterlesen »
Goldman Sachs raises Brent oil price forecasts after OPEC+ output cutsGoldman Sachs has raised price forecasts for Brent crude futures following a surprise announcement from OPEC+ that the producer alliance will cut oil output further.
Weiterlesen »
Global Oil Prices Surge After OPEC Announces Production CutThe surge in oil prices comes after OPEC+ announced an unexpected production cut totaling more than 1 million barrels per day.
Weiterlesen »