Asia Markets: Australian Market Slumps After Opec Decision

Energy stocks pull Australia’s market sharply lower early in the day after the world’s biggest oil-producing nations reject calls to cut their output, sending crude prices into a tailspin.

Topics:  australia s   market   
BING NEWS:
  • OPEC sees no peak oil demand long term, secretary general says
    OPEC+, which groups de facto Saudi-led OPEC, the Organization of the Petroleum Exporting Countries, and allies including Russia, has made a series of deep output cuts since late 2022 to support the ...
    06/13/2024 - 4:26 am | View Link
  • OPEC may soon lose its sway over global oil prices, IEA says
    A looming glut in global oil supply could “upend” attempts by the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, to prop up prices by cutting production, according to the ...
    06/12/2024 - 2:39 am | View Link
  • OPEC sticks to 2024 oil demand growth forecast but trims Q1 view
    OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower-than-expected use in the first quarter, saying travel and tourism would support ...
    06/11/2024 - 12:43 am | View Link
  • OPEC Still Sees Strengthening Oil Demand as It Plans Supply Hike
    OPEC maintained forecasts for strengthening oil demand in the second half of the year, as the group and its allies prepare to revive some halted supplies.
    06/11/2024 - 12:29 am | View Link
  • OPEC Keeps Robust Oil-Demand Outlook After Output Policy Move
    OPEC maintained its bullish outlook for oil-demand growth after setting out a plan to gradually unwind some of its production cuts, raising concerns on whether the market will be able to absorb the ...
    06/10/2024 - 11:39 pm | View Link
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