Can OPEC+ Boost Oil Prices Next Year?
OPEC+ will have to factor in many variables in its market-managing policies next year, including a fresh threat to its market share from soaring U.S. and non-OPEC+ production.
Source: oilprice.com
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U.S. Record-Breaking Oil Output One More Blow to OPEC
Record crude oil production in the United States is serving a fresh blow to oil bulls and OPEC, just as the cartel was trying to push benchmarks higher by adopting deeper production cuts
Source: oilprice.com
OPEC's Oil Output Drops for the First Time Since July
OPEC’s crude oil production dropped in November for the first monthly decline since July as Nigeria and Iraq saw lower shipments
Source: oilprice.com
Latest Cuts Leave OPEC with Fewer Options
For OPEC+ the situation is difficult as the more it cuts production, the more traders would question the outlook on oil demand, as suggested by the latest cuts.
Source: oilprice.com
Russia Says OPEC+ Ready To Deepen Oil Output Cuts If Needed
The OPEC+ group is ready to take additional measures and deepen the oil production cuts in the first quarter of 2024 to avoid volatility and speculation on the market
Source: oilprice.com