OPEC decided to extend its production cuts until the end of 2025 as the group waits for interest rates to come down and for strong economic growth to return.
OPEC and its partners in OPEC this weekend decided to extend their production cuts, including both voluntary and group-wide cuts, until 2025. Energy Intelligence’s Amena Bakr reported that the voluntary cuts specifically would be extended until the third quarter of 2024, after which the countries currently cutting would begin to bring back production if the market conditions are right. “We are waiting for interest rates to come down and a better trajectory when it comes to economic growth ...
The OPEC member has been grumbling against the production cuts so the rest of the cartel raised its production baseline by 300,000 bpd at this weekend’s meeting. However, “The deal should allay market fears of OPEC adding back barrels at a time when demand concerns are still rife,” Energy Aspects’ Amrita Sen told Reuters.
OPEC+ Production Crude Oil Oil Prices Output Supply Demand Economy
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
OPEC Signals Lasting OPEC Alliance in Oil Market ManagementOPEC is preparing to replace the 'call on OPEC' forecast of global demand for the cartel's crude oil with 'call on OPEC crude' in its closely-watched monthly oil market report
Weiterlesen »
TSMC fully booked on advanced packaging until 2025TrendForce warns of 'potential crowding out effects on HBM'
Weiterlesen »
F1 silly season predictions reloaded: The 10 drivers to fill remaining F1 2025 grid slotsIt's prediction time! Expect a lot of seats to fill up for next year as we zoom towards the F1 summer break.
Weiterlesen »
Scotland full of Euro 2025 belief, says Rachel CorsieScotland full of Euro 2025 qualifying belief, says Rachel Corsie.
Weiterlesen »
Helmut Marko hits back at Red Bull junior team critics with ‘luxury’ F1 2025 ‘problem’ analysedHelmut Marko: 'What do they have to say now?'
Weiterlesen »
Every Leeds United player out of contract by summer 2025Leeds Live has taken a look at the players whose contracts are up next summer
Weiterlesen »