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OPEC+ Production Increase Likely to Be Postponed for Another Three Months – Commerzbank
OPEC's crude oil production capacity has expanded for two consecutive months, and the rhetoric of "overcapacity" is sweeping the oil market.
In November, the daily production increased by 0.12 million barrels; under pressure from allies, Iraq has been reducing production for three consecutive months.
Sinopec Corp (00386.HK) spent 10.4458 million Hong Kong dollars on December 3rd to repurchase 2.5 million shares.
Grone December 3rd | Sinopec Corp (00386.HK) announced that on December 3, 2024, it spent 10.4458 million Hong Kong dollars to repurchase 2.5 million shares at a repurchase price of 4.13-4.22 Hong Kong dollars per share.
One bad news for oil bulls: OPEC+ "no more".
OPEC's control over the oil market is increasingly weakening, and if no action is taken, the organization's control may completely disappear.
Afternoon crude oil analysis: Brent crude oil futures prices have increased slightly, and the oil field in Kazakhstan remains shut down...
Kazakhstan's Deputy Minister of Energy, Alibek Zhamauov, stated on December 2nd that due to maintenance reasons, Kazakhstan's Tengiz oil field with a production capacity of 0.6 million barrels per day is still partially shut down.
Oil Prices Hold Steady Ahead Of OPEC+ Meeting
