Oil prices trim gains

OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast
OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.
OPEC makes fifth and biggest cut to 2024 oil demand growth forecast
OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China's sputtering role as the world's demand growth engine.
Oil Prices Trim Gains as OPEC Again Cuts Oil Demand Growth Outlook
(Reuters) -Oil prices were up about 1% on Wednesday having pared gains after producers group OPEC cut its forecasts for demand growth in 2024 and 2025. OPEC in its monthly reports has lowered its outlook five consecutive times.
OPEC Could Extend Production Cuts To Support Oil Prices
Oil prices have been under pressure from high interest rates, a strong dollar, and high U.S. oil production. OPEC could extend oil production cuts to support prices.
OPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group's fifth consecutive downward revision. The weaker outlook highlights the challenge facing OPEC+,
OPEC says Russia made small cut to oil output in November
This was broadly in line with Russia's monthly output quota of 8.98 million bpd under the OPEC+ deal and including voluntary cuts
OPEC Plus Postpones Plan to Increase Oil Output for Three Months
The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other ...
The US and other crude producers will take more oil market share from OPEC in the coming years, Bank of America says
The US and other oil-producing nations will account for the bulk of crude supply growth in 2025, Bank of America said.
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US production is threatening OPEC’s hold on the oil market
So we have seen U.S. production climbing. The U.S. is the largest oil producer in the world now by quite a margin. So the U.S ...
OPEC Gives Haitham Al-Ghais Second Term as Secretary-General
OPEC appointed Haitham Al-Ghais for a second three-year term as its secretary-general, extending his tenure until mid-2028.
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More petrodollars expected as Nigeria’s oil output hits 44-month high
Nigeria's oil production has rebounded to its highest level since April 2021, reaching 1.69 million barrels per day (bpd), ...
OPEC again cuts its 2024 and 2025 oil demand growth forecasts
OPEC said it now expects 2024 global oil demand to rise by 1.61 million barrels per day, down from its forecast of 1.82 ...