OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply.

Topics:  opec-led   oil   outlook   rest   
BING NEWS:
  • Oil holds steady as traders weigh rise in U.S. supplies, Middle East cease-fire talks
    The EIA on Wednesday reported a climb in crude inventories of 7.3 million barrels for the week that ended April 26. On average, analysts had forecast a crude-supply decrease of 2.5 million barrels, ...
    05/2/2024 - 8:23 am | View Link
  • Opec sees robust summer oil demand, economic upside potential
    “The robust oil demand outlook for the summer months warrants careful market monitoring, amid ongoing uncertainties, to ensure a sound and sustainable market balance,” the report said. Opec ...
    04/11/2024 - 9:00 am | View Link
  • Oil Market to Get ‘Extremely Tight’ in Second Half, Citadel Says
    Global oil markets are on track to be “extremely tight” in the second half, with prices rising to a level that will eventually constrain demand if OPEC doesn’t bring back more supply ...
    04/8/2024 - 3:45 am | View Link
  • Oil Rises to $85 in Rally Driven by OPEC, Geopolitical Risks
    Meanwhile this week, Chinese manufacturing data showed signs of an economic recovery in the world’s largest oil importer. West Texas Intermediate added 1.7% in New York, while the global Brent ...
    04/2/2024 - 4:15 am | View Link
  • Reuters Survey Shows OPEC Output Reduced in March
    Last fall, when it released its World Oil Outlook (WOO), OPEC upped its long-term forecast for global oil demand to its highest level ever, predicting an increase of 23% from 2022 to reach 116 ...
    04/1/2024 - 6:30 am | View Link
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