Oil Prices, OPEC
Crude Oil Prices Fall to Lowest Level of 2024 as OPEC Cuts Demand Outlook
U.S. and international crude oil futures skidded to their lowest levels in more than a year after the influential oil producing group cut its 2024 outlook, citing weakness in Chinese demand.
Cheaper Gasoline Prices And Higher Crude Oil Prices: But Why?
Gasoline prices typically fall in the autumn and early winter as demand decreases and gasoline retailers switch to cheaper winter-blend fuels. Additionally, Americans take fewer trips during this period,
Fuel prices to keep falling in coming weeks as Chinese demand for oil reduces
Motorists can expect further reprieve at the petrol bowser with analysts predicting continued falls in the price of oil. But economists say while falling prices are good for consumers, it won't lower underlying inflation as far as the Reserve Bank wants it to,
Oil prices to keep falling as demand weakens, says IEA head
Oil prices are likely to keep falling, the head of the International Energy Agency has said, as producers continue to pump volumes that exceed global demand. “Given the current weak demand and lots of oil coming from the non-Opec countries, mainly from America and others, we may well see downward pressure on the price,” said Fatih Birol.
Why Oil Prices May Have Further To Fall
The price of crude oil has been under pressure recently. Hussein Allidina, Managing Director and Head of Commodities at TD Asset Management, shares why more price declines may be likely.
Oil Prices Fall Back Despite OPEC+ Decision To Pause Output Hike
OPEC+ delayed plans to ease production cuts, but analysts see challenges due to lost market share and declining prices.
OPEC cuts oil demand growth projections
OPEC+ recently delayed a plan to increase oil production after prices reached their lowest point in 2024. Most of the recent revisions were attributed to Chinese economic data and projections, and the country’s slow move to renewables,
Oil Prices Drop Over 3% After OPEC Cuts Demand Forecast. Wall Street Revises Price Targets as...
Oil prices fell over 3% on Tuesday, marking the lowest levels since December 2021. OPEC's monthly report indicates a reduced forecast for oil demand growth in 2024 and a slight decrease for 2025 compared to previous estimates.
U.S. Crude Oil Futures Drop as OPEC Lowers Demand Forecast
U.S. crude oil futures fell over 1% on Tuesday, giving up gains from the previous session as OPEC lowered its demand forecast for the second time in two months. The oil producers group expects 2024 demand to grow by 2 million barrels per day,
Oil Prices Slump as OPEC Delays Output Hikes Amid Demand Concerns
OPEC revised down its oil demand growth forecast for 2024 and 2025 due to falling prices and weak global demand. Brent crude is trading at $71 per barrel, and WTI at $68, as oil prices struggle to recover from last week’s drop.
OPEC cuts outlook for oil demand further as prices fall
The Organization of the Petroleum Exporting Countries on Tuesday lowered its growth forecast for oil demand. The update comes a week after the cartel sought to support prices by delaying planned increases to crude output.
India's August wholesale inflation cools to 1.31% as global oil prices fall
India's wholesale price index rose 1.31% in August from a year earlier, government data released on Tuesday showed.
How plunging oil prices could help the US avoid recession
Cheaper energy reduces cost burdens in manufacturing, construction, and agriculture, among other economic positives.
Falling oil prices and China concerns add fuel to market fears of a U.S. recession
Concerns about China’s economy have dulled the outlook for energy demand — contributing to a drop in U.S. and global oil ...
Prices at the Pump Fall, a Win for Efforts to Fight Inflation
A gallon of regular gasoline in August was down nearly 12 percent from a year earlier, reflecting a fall in oil prices as ...
Crude Oil Prices4d
Big Oil’s Shareholder Payouts Under Threat As Prices Drop
Falling oil prices, driven by weakening Chinese demand and a potential shift in OPEC+ strategy, pose challenges for Big Oil's ...
Gas prices are plummeting. Experts explain why.
Gas prices have plummeted about 13% from a 2024 peak in April, which amounts to a decline of nearly 50 cents per gallon, ...
Analysts unveil ExxonMobil stock price target after oil price collapse
ExxonMobil (XOM) wants to get back to work. The energy giant, the largest direct descendant of John D. Rockefeller's Standard ...
AAA: Florida gas prices continue to fall as oil prices continue downward trend
Last week, the U.S. price of crude oil slipped to $65.75 per barrel, the lowest it's been since December 2021.