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Oil Headed for Weekly Gains as Sanctions Outlook Raises Supply Worries -- Market Talk
IEA Monthly Report: Even if OPEC+ delays production increases, there will still be an oversupply of oil next year!
The IEA stated that if OPEC+ implements the production recovery plan starting in April, the Global market will face a surplus of 1.4 million barrels per day. The IEA has raised the forecast for global oil demand growth in 2025 by 90,000 barrels to 1.1 million barrels, mainly due to the economic stimulus measures recently announced by China.
Crude Oil Jumps Back Above $70 as US Inventories Fall to Lowest Level
Afternoon Crude Oil Product analysis: USA crude oil inventories have plummeted, can oil prices continue to rise?
The US Energy Information Administration (EIA) reported that for the week ending December 6, US Crude Oil Product inventories decreased by X thousand barrels...
Oil Settles Up US$1 As EU Agrees Further Sanctions
Weekly Crude Inventories Fall More Than Expected; Oil Prices Rise Despite OPEC Cutting Demand Outlook
Oil Extends Gains After U.S. Crude Stocks Draw -- Market Talk
US Total Crude Oil Stocks Decline in Week Ended Dec. 6
OPEC has cut its oil demand forecast for the fifth consecutive month, with the largest reduction to date.
OPEC has lowered its forecast for Consumer growth in 2024 by 0.21 million barrels per day to 1.6 million barrels per day. Since July, OPEC has reduced its forecast by 27%. Analysts believe that OPEC's forecast still exceeds the general market expectations and there is a gap with this year's actual Consumer data.
OPEC Further Trims Oil-Demand Forecast After Output-Hike Delay
Midday crude oil analysis: How is the price trend of Brent crude oil under the condition of oversupply?
Despite the ongoing geopolitical tensions, analysts have further lowered their price forecasts for 2025 due to the expectation of a supply surplus next year.
Morgan Stanley's outlook for the 2025 bulk market: gold is the preferred hedge aiming for 3000 dollars, demand supports a V-shaped rebound in industrial metals, and crude oil product continues to fall due to oversupply.
Morgan Stanley forecasts that gold prices will rise to 3,000 dollars per ounce next year, considering potential deficit expansion, silver and platinum may rise to 38 dollars per ounce and 1,200 dollars per ounce respectively. The crude oil market is expected to shift from this year's supply-demand balance to a surplus of 1.3 million barrels per day, with Brent and WTI crude oil prices expected to drop to 70 dollars and 64 dollars respectively by the end of next year.
Not only working hard for nothing but also losing money! Bank of America: OPEC+ will lose more market share.
The usa thinks that OPEC+'s decision to delay production increases is unlikely to boost oil prices, and will instead hand over more market share to other oil-producing countries, including the usa.
Saudi Arabia's big move! Lowering all oil prices for Asia in January 2025.
According to the latest news, Saudi Aramco announced a reduction in all oil prices for Asia in January 2025, with the official price of Arab light crude oil reduced by 80 cents per barrel, set at a premium of $0.9 over the average price of Oman/Dubai (previously a premium of $1.7).
It has barely held on by extending production cuts, but how much longer can OPEC+ last?
HSBC believes that if OPEC+ cancels the "extra voluntary" production cut plan as scheduled in March 2026, it will cause the overproduction of crude oil products to expand to 1.2 million barrels per day, further putting downward pressure on oil prices. This means that the situation where global crude oil market supply exceeds demand will continue until 2026, at which time OPEC+ may also have no "room" to cancel the production cut plan.
Certain OPEC+ Members Extend Oil Production Cuts to Support 'Market Stability'
OPEC+ Output Cut Extension Ought to Be Bullish for Oil -- Market Talk
OPEC+ Delays Oil Output Hike Once Again
OPEC+ plans to postpone the production increase until April next year! International oil prices have declined in the short term.
OPEC+ stated at the meeting that they have agreed in principle to postpone the originally scheduled January production increase plan, and will gradually lift the oil production cuts starting from April 2025 until September 2026. WTI crude oil futures and Brent crude oil futures experienced a short-term plunge.
Oil Prices Dip Ahead Of OPEC+ Policy Decision