Global Oil Market

Oil prices rise amid new Russia sanctions, OPEC demand cuts, and ExxonMobil’s production boost, reshaping the global market for 2024

Oil prices edge up following OPEC demand forecast revision, with dollar gains and geopolitical tensions limiting market recovery

Iraq’s oil output in September fell below its OPEC+ quota, reflecting efforts to align with the alliance’s compliance requirements amid reduced exports and regional disruptions.

OPEC has raised its long-term oil demand forecast, predicting that global demand will reach 120.1 million barrels per day by 2050, driven by growth in developing economies.

OPEC+ will proceed with its planned October oil output increase, despite market concerns, due to Libyan disruptions and hopes for a U.S. rate cut.

Oil prices jumped 3% as Libya’s production cuts and Middle East tensions heighten supply concerns, causing market fluctuations.

Global jet fuel demand is softening due to tightening travel budgets and improved fuel efficiency, leading to concerns about the broader impact on oil prices. With economic challenges in key …

OPEC+ keeps its current oil output policy unchanged, hinting at a possible pause or reversal of planned production hikes in October to stabilize the market.

Oil prices rise slightly on robust US GDP growth, but concerns over Asia’s economic outlook limit gains. The market balances optimism with caution amid uncertainties.

Rising oil prices influenced by China’s economic data and rising geopolitical tensions across key regions.