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A service for energy industry professionals · Wednesday, December 11, 2024 · 768,219,087 Articles · 3+ Million Readers
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OPEC Production News Monitoring

  • Published on 13:36 GMT

    Exxon doubles down on oil production spending as peers pull back

    Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. ExxonMobil announced plans to boost spending on oil production, doubling down even as other producers pull back amid fears of an …

    Source: The Financial Times - Neutral
  • Published on 17:51 GMT

    OPEC’s Oil Production Rose in November as Libyan Output Jumped

    Crude oil production from all OPEC members rose by 104,000 barrels per day (bpd) in November compared to October, the organization’s Monthly Oil Market Report (MOMR) showed on Wednesday. Total OPEC-12 crude oil production averaged 26.66 million bpd last …

    Source: Oil Price - Neutral
  • Published on 17:25 GMT

    Nigeria oil production hits 1.5 million bpd barrels in November 2024 — OPEC

    Nigeria’s oil output, excluding Condensate increased month-on-month, MoM, to 1.5 million barrels per day(bpd) in November 2024, according to the Organisation of Petroleum Exporting Countries (OPEC). This is an improvement considering the 1.3 million bpd in …

    Source: Tribune Online - Center-right
  • Published on 15:20 GMT

    Crude Oil: Market Set to Be in Surplus Despite OPEC+ Action

    The global Crude Oil market is set to return to surplus in 2025 despite OPEC+ extending supply cuts. This surplus should see prices trending lower next year. However, there are risks 2025 oil surplus Oil prices have come under a fair amount of pressure …

    Source: Investing - Neutral
  • Published on 13:18 GMT

    OPEC says Russia made small cut to oil output in November

    Russia's crude oil output in November edged down by 7,000 barrels per day (bpd) to about 8.99 million bpd, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday, citing data from secondary sources such as consultancies. This …

    Source: Zawya - Uncategorized
  • Published on 16:57 GMT

    More petrodollars expected as Nigeria’s oil output hits 44-month high

    Nigeria’s oil production has rebounded to its highest level since April 2021, reaching 1.69 million barrels per day (bpd), raising the prospects for increased petrodollar inflows, which could bolster the Nigerian economy amid ongoing fiscal reforms. …

    Source: Business Day - Neutral
  • Published on 13:21 GMT

    OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast

    (Bloomberg) -- OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. Most Read from Bloomberg The Organization of Petroleum …

    Source: Yahoo Finance - Label Pending
  • Published on 08:54 GMT

    AEC Favours Al Ghais Re-Election Bid As OPEC Scribe

      Yemisi a izuora The African Energy Chamber (AEC), which serves as the voice of the African energy sector, is calling on African Energy Ministers to endorse the re-election of OPEC Secretary General Haitham Al Ghais. The Chamber believes in Al Ghais’ …

    Source: Oriental News Nigeria - Neutral
  • Published on 17:57 GMT

    Brent Crude – Oil Prices Rise Despite Largest OPEC Forecast Cuts of 2024

    Oil prices rose despite OPEC downgrading its 2024 and 2025 global oil demand growth forecasts. The downgrade is attributed to China’s slower demand and the rise of electric vehicles. The EU and US are considering further sanctions on Russia’s oil trade, …

    Source: OANDA Market Pulse - Neutral
  • Published on 12:57 GMT

    Crude Oil: Critical $67 Support Under Threat Amid China Slowdown, Rising US Output

    WTI crude teeters near a critical support level. Weak Chinese demand and rising U.S. output weigh heavily on prices. OPEC+ measures face growing pressure to counter bearish momentum. Discover the top stocks poised to benefit amid the stock market's …

    Source: Investing - Neutral
  • Published on 12:14 GMT

    Nigeria’s Oil Production Hit a 2024 High of 1.7 Million Bpd in November

    Nigeria’s oil production has been recovering in recent months and hit its highest level for 2024 in November with a total of 1.7 million barrels per day (bpd) of crude oil and condensate output, the latest data from the upstream regulator showed. Nigerian …

    Source: Oil Price - Neutral
  • Published on 16:56 GMT

    OPEC makes fifth and biggest cut to 2024 oil demand growth forecast

    OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China’s sputtering role as the world’s demand growth engine. The weaker outlook underlines the …

    Source: Cyprus Mail - Uncategorized
  • Published on 15:14 GMT

    Forecast for oil production in non-OPEC+ countries increased

    The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily oil and other liquid hydrocarbon production in countries not included in the OPEC+ agreement (an initiative to reduce oil production involving OPEC and …

    Source: APA - Label Pending
  • Published on 15:53 GMT

    OPEC cuts oil demand forecasts for 2024 and 2025

    OPEC reduced its estimates for the growth of oil demand this year and in 2019. The producer group has now revised their forecasts downward five times in a row. The weakened outlook shows the challenges facing OPEC+ which includes the Organization of …

    Source: World Energy News - Connecticut - Label Pending
  • Published on 14:03 GMT

    OPEC cuts global oil demand forecast for 2024, 2025 for fifth straight month

    VIENNA, Dec. 11 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday further trimmed its forecasts for global oil demand growth this year and next, marking the organization's downward revision for the fifth consecutive …

    Source: Xinhua News Agency - Gov't Propaganda
  • Published on 15:25 GMT

    Opec downgrades oil demand growth forecast for fifth time

    Opec has made a “minor” cut to its global oil demand growth forecast for this year and next, the fifth consecutive monthly downgrade. The producer group revised its global oil demand growth forecast for 2024 downwards by 210,000 barrels per day to 1.6 …

    Source: Upstream - Neutral
  • Published on 14:46 GMT

    Oil prices trim gains as OPEC again cuts oil demand growth outlook

    Oil prices were up about 1% on Wednesday having pared gains after producers group OPEC cut its forecasts for demand growth in 2024 and 2025. OPEC in its monthly reports has lowered its outlook five consecutive times. Brent crude futures were up 74 cents, …

    Source: Business Recorder - Neutral
  • Published on 14:14 GMT

    OPEC reveals daily oil production figures for Azerbaijan

    In November of this year, Azerbaijan's daily oil production averaged 483,000 barrels, which is 3,000 barrels lower compared to October's figures, APA-Economics reports citing the monthly report of the Organization of the Petroleum Exporting …

    Source: APA - Label Pending
  • Published on 10:11 GMT

    Azerbaijan was 65,000 barrels short of its OPEC+ quota in November

    In November 2024, daily oil production (including condensate) in Azerbaijan amounted to 80,771 barrels, of which, 65,885 tons were crude oil (486,000 barrels), and 14,886 tons were condensate, APA-Economics reports. Note that according to the agreement …

    Source: APA - Label Pending

21 days 15:31:02

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