News list for "Production cut"
The market's response to OPEC +'s decision to extend the production cut policy for three times was lackluster, and it seems that the "trump card" of boosting oil prices is no longer useful? Analysts believe that from the latest statement, OPEC + seems to be pinning its hopes on this prospect... > >
The OPEC + representative said that OPEC + decided to extend the collective production reduction plan of 2 million barrels per day by one year until the end of 2026.
OPEC + confirmed the extension of the group's overall oil production cut of 3.65 million barrels per day until the end of 2026.
Citi Research: Our basic judgment is that OPEC + will delay the lifting of production cuts by one quarter to April 2025.
The OPEC statement said that Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will extend their voluntary production cuts of 2.20 million barrels per day by one month until the end of December 2024.
The Iraqi Ministry of Petroleum: This production cut will continue in the coming months.
Gold Ten Futures October 30th news, as the main producing countries enter the production cut cycle, the supply of palm oil continues to decrease, and the palm oil inventories of the main producing countries tend to decline, driving the internal and external palm oil futures prices to continue to rise, and continue to refresh the highs in the past two years. Looking forward to the market outlook, it is difficult to effectively change the tight palm oil supply pattern in the short term. Coupled wi...
The Ministry of Energy of Kazakhstan: (on OPEC + production reduction compensation measures) plans to carry out compensatory oil production cuts during the planned maintenance of the field in October.
On September 6, the OPEC + countries that previously announced additional voluntary production cuts in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, held a virtual meeting on September 5, 2024, at which eight member countries underlined their collective determination to ensure full compliance with the voluntary production adjustments. Eight member countries have agreed to extend their additional voluntary production...
Gold Ten Futures, August 20th, the demand for building materials in the off-season is still weak, still in a state of weak supply and demand, but with the rapid decline in rebar production, inventory has been significantly reduced. In terms of hot coil, supply has declined slowly, consumption has declined, inventory is still rising, and pressure to reduce production is still there. At present, the steel production reduction has not ended, and the industry continues to have a negative feedback pa...
On June 2nd, according to foreign media reports, OPEC representatives said that OPEC + has drawn up the outline of an agreement to extend key parts of its oil production cuts until the second half of this year, as the organization continues to work to avoid a global supply glut and support prices. The so-called "voluntary" production reduction agreements of major member countries, including Saudi Arabia and Russia, total about 2 million barrels per day and will expire at the end of June. Delegat...
According to the representative, OPEC + is considering the possibility of extending some production cuts to 2025.
OPEC + is working on a complex deal and will agree at its meeting on Sunday to allow the extension of some deep production cuts until 2025, three sources said. OPEC + is currently cutting production by 5.86 million barrels per day, equivalent to about 5.7% of global demand. The cut includes 3.66 million barrels per day by OPEC + members for a valid period until the end of 2024, as well as voluntary cuts of 2.20 million barrels per day, due to expire at the end of June. The deal reached on Sunday...
Crude oil is still in a volatile market. Can oil prices be boosted under the expectations of intensifying geopolitical conflicts and extending OPEC + production cuts? > >
[Daily Global Commodity Market News Express (May 9) ] 1. Media estimates that Russia's crude oil production cut last month was lower than promised. 2. Market news: Turkey considers raising energy bills for high-income households. 3. Russian Foreign Ministry: The European Union is still illegally seizing about 100,000 tons of Russian fertilizer. 4. Iranian Oil Minister: Iran plans to increase oil production by 30-400,000 barrels/day this year, and oil exports have reached their highest level sinc...
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