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At 7.3% Brent oil experiences sharpest weekly decline in past year

- Brent crude oil fell by 7.3% on a weekly basis, marking its sharpest decline since October 2023

21.10.2024 Oil

Global oil production drops by 0.7% in September, IEA reports

- Agency forecasts global oil demand to reach 102.84 million bpd in 2024, 103.84 million bpd in 2025

15.10.2024 Oil

Global energy demand to increase 24% by 2050: OPEC

- Demand for all primary fuels, except coal, is set to increase in long term

24.09.2024 Oil

Oil down amid China's slowing demand, OPEC+ supply boost

- OPEC+ previously agreed to extend oil production cuts to November as crude oil and fuel prices continued to fall

20.09.2024 Oil

OPEC daily crude output rises by 0.7% in July

- Global oil demand growth forecast for 2024 is revised down by 135,000 bpd, from previous month's assessment

12.08.2024 Oil

OPEC+ agrees to extend group-wide output cuts into 2025

- 1.6 million barrels per day voluntary cuts to be prolonged for another year, while second round of voluntary cuts of 2.2 million barrels per day to end of third quarter of 2024

02.06.2024 Oil Oil General

OPEC daily crude output falls by 0.18% in April

- Number of oil rigs worldwide world decreases by 60 last month to 1,797

14.05.2024 Oil

US energy agency revises down Brent price forecast for 2024, 2025

- International benchmark Brent crude estimated to reach $87.79 per barrel in 2024 and $85.38 per barrel in 2025

08.05.2024 Oil

Oil demand peak dispute raises economic alarm

-Peak oil demand refers to theorized time when maximum rate of global oil production will occur before beginning an irreversible decline

13.04.2024 Oil

OPEC crude output increases in February

- Global oil demand forecast to reach 104.5 million barrels per day in 2024, with growth rate of 2.2 million barrels per day

12.03.2024 Oil

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Oil prices up over escalating tensions in Middle East, positive demand outlook

- Investors remain cautious ahead of key inflation data to be announced by US Fed late Tuesday

12.03.2024 Oil

Oil down on week ending March 4 over demand fears in US

- Prices decline with rising crude stocks in US while strong dollar and supply concerns driven by OPEC+ cuts push prices up

09.03.2024 Oil Finance

Russia announces full commitment to OPEC+ production caps in February

- Country's current production cutbacks stand at about 500,000 barrels per day —300,000 bpd of crude and 200,000 bpd of oil products

21.02.2024 Oil

OPEC crude output declines in January

- OPEC report shows fall in global liquids production in January by 600,000 barrels per day to average 101.8 million barrels per day

13.02.2024 Oil

Saudi Arabia cuts production to propel prices, revealing strategy over supply

- Saudi Arabia has significantly reduced its production since 2022 to stabilize and potentially increase oil prices as well as ensure lucrative revenue from its crude exports

02.02.2024 Oil Finance Energy Diplomacy