The International Energy Agency forecast this month that global oil capacity could exceed demand by 2030, leading to a bearish trend for oil prices. OPEC has not specified a timeline for production increases, but has said its actions will depend on market conditions. Oil prices, which are influenced by many factors other than supply and … Read more
The market reaction to OPEC’s latest production policy announcement was extremely negative, partly due to the many trades executed based on trend-following algorithms, analysts say. While most analysts view the OPEC+ alliance’s announcement this weekend as bearish for oil prices towards the end of the year due to the plan to start unwinding some of … Read more
On Sunday, the Organization of the Petroleum Exporting Countries and their partners in OPEC+ agreed to extend a series of production cuts first announced last year. The duration of that extension, widely expected to cover the second half of 2024, will instead cover the rest of this year and all of 2025. In a sense, … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. OPEC+ members have agreed to deep oil production cuts, in some cases until the end of 2025, as they battle to maintain prices amid weak global demand and increased supply from other parts of the … Read more