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Oil Supply
OPEC Revises Forecasts and Cadre: Decline in Global Oil Demand Expected
OPEC has revised its expectations for global oil demand in 2024 and 2025 downwards for the fifth time in a row. At the same time, the organization is celebrating the eighth anniversary of the “Declaration of Cooperation” and appointing new leaders.
December 12, 2024
OPEC+ Surprisingly Cuts Oil Production
The OPEC+ alliance has announced a surprise cut in oil production. There will probably be a reduction of about one million barrels per day from May onward.
April 3, 2023
Russia Bans Oil Export on Countries with Gas Price Cap
Russia has responded to the west’s decision to cap gas prices as a measure to brake the rising energy prices. This was an expected move as Russian President Vladimir Putin has criticized this cap numerous times.
December 27, 2022
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