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OPEC has cut its forecast for 2025 demand growth to 1.54 million barrels per day, from 1.85 million barrels per day in July. That is at the high end of estimates compared to those from the ...
A weekly look at what occurred in the oil markets of the U.S. and the world this past week. The monthly reports of the International Energy Agency and OPEC, both released this past week, reflect ...
At the 6th Ministerial Meeting of the GECF in Doha, it was decided to create a working group under the leadership of the Ministry of Industry and Energy of Russia to coordinate actions to form a full-fledged organization. This step was perceived as the inevitability of creating a gas analogue of OPEC. As a result, the agreement on the ...
OPEC members also agree to appoint Venezuelan Oil Minister Alvaro Silva as the cartel's new secretary general, replacing Ali Rodriguez, who will now head Venezuelan state oil company PdVSA. At the meeting, Algeria requests a larger share of OPEC's total quota, but the issue will not be taken up until the OPEC Board of Governors meeting in August.
Oil prices fell 2% on Monday after China’s stimulatory plans failed to impress traders and oil alliance OPEC lowered its demand forecast. West Texas Intermediate closed at $73.83 per barrel ...
Fluctuations of OPEC net oil export revenues since 1972, showing elevated inflation-adjusted levels during 1974–1981 and 2005–2014 [1] [2]. Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). [3]
Oil prices fell on Friday, with U.S. crude dropping more than 4%, on fresh trade tensions and record high U.S. crude production, but they still ended the month higher as OPEC watchers expect an ...
Given that the OPEC member nations included Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela, the Fifth Circuit's opinion sited much case precedence and stated: “Such matters are so exclusively entrusted to the political branches of government as to be largely immune ...