Global oil prices surge for the fourth straight week, driven by OPEC+ production cuts, geopolitical tensions, and robust demand, reaching new highs.
Global Oil Demand
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OPEC’s latest report offers an optimistic forecast for global oil demand, projecting strong growth through 2024 and 2025 amidst geopolitical tensions and supply disruptions.
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According to a Reuters survey, Nigeria and Iran boosted their oil production in September, leading to a second consecutive monthly increase in OPEC’s output. The rise comes despite the ongoing…
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The International Energy Agency (IEA) foresees a distinct oil market deficit by the end of 2023 as global supply dynamics shift. This projection arises in the wake of Saudi Arabia…