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In its monthly oil market report, OPEC cut its outlook for oil demand because of the deceleration in China's economy. It now expects daily demand for oil to grow by roughly 2 million barrels per ...
According to their peer-reviewed report, oil production in 2030 would not exceed 75 million barrels per day (11.9 × 10 ^ 6 m 3 /d) while the IEA forecasts a production of 105 million barrels per day (16.7 × 10 ^ 6 m 3 /d). The lead author of the report, Kjell Aleklett, has claimed that IEA's reports are "political documents". [86]
The world’s major oil producers are pushing back against downbeat sentiment in the crude markets. OPEC’s latest monthly oil report says “oil market fundamentals remain strong despite ...
The annual World Energy Outlook (WEO) is the International Energy Agency's (IEA) flagship publication on global energy projections and analysis. [1] It contains medium to long-term energy market projections, extensive statistics, analysis and advice for both governments and the energy business regarding energy security, environmental protection and economic development.
Yes, but: Oil prices were up by about 1% on Monday after OPEC’s monthly market report said that the fundamentals remained strong and that it was speculators bringing prices down.
The Organization of the Petroleum Exporting Countries (OPEC, / ˈoʊpɛk / OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq ...
Global oil supply could outstrip demand by a “staggering” 8 million barrels per day by 2023, according to forecasts published by the agency in its medium-term oil market report.
The biggest one-day decline in oil prices in three weeks happened August 8 as crude supplies fell less than expected and demand in China also fell. WTI fell 3.2% from $69.17, the highest since July 30, to $66.91, the lowest since June 21. Brent also fell by 3.2%, to $72.28, the lowest since July 17. [83]