Oil demand

European refiners, including TotalEnergies and Neste, face significant drops in profit margins amid decreasing demand.

Oil prices dropped for the third straight session due to a strong U.S. dollar and global economic concerns. Brent crude fell to $72.45 per barrel, while WTI crude dropped to $67.80.

OPEC, the world’s leading oil producer group, contradicts the IEA’s forecast of imminent peak oil demand. OPEC maintains a bullish outlook, expecting oil consumption to rise for decades to come.

Oil prices fell on Monday after initial concerns about a wider conflict in the Middle East subsided. This followed Iran’s weekend attack on Israel proving less disruptive than anticipated.

OPEC+ members agreed to extend their voluntary oil output cuts into the second quarter of 2024, boosting oil prices and signaling confidence in the global economic recovery. The decision, announced…

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to maintain their voluntary oil output cuts for another six months, boosting oil prices and tightening the global…

The global oil market is tightening as shipping delays and OPEC+ cuts reduce the availability of crude in Europe and Africa, boosting futures prices. Rising demand and geopolitical risks The…

OPEC projects robust oil demand and economic growth despite challenges, maintaining optimism for the future of the global oil market.

Oil markets shrugged off the announcement by OPEC+ that it will extend its voluntary oil production cuts for another three months, starting in April 2024. Analysts widely expected the decision…

The International Energy Agency (IEA) has revised its global oil demand growth forecast for 2024, but it still falls short of OPEC’s expectations. The IEA, which advises industrialized countries on…