OPEC Monthly Report
It provides valuable insight into the OPEC's view of economic conditions and inflation - the key factors that will shape the future of OPEC's policy and influence their decisions;
This report provides a detailed analysis of key developments impacting oil market trends in global oil supply and demand, as well as the oil market balance;
- History
| Expected Impact / Date | Description |
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| Dec 11, 2024 | |
| Nov 12, 2024 | |
| Oct 14, 2024 | |
| Sep 10, 2024 | |
| Aug 12, 2024 | |
| Jul 10, 2024 | |
| Jun 11, 2024 | |
| May 14, 2024 | |
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- OPEC Monthly Report News
From marketpulse.com|Dec 12, 2024Oil prices continued its steady move higher on Wednesday, up around 1.27% at the time of writing. This is a slight surprise given that OPEC downgraded its 2024 and 2025 forecasts. OPEC has cut its forecast for global oil demand growth in 2024 for the fifth month in a row, with the biggest reduction so far. This highlights how China’s slower demand is affecting the global market. OPEC+ (OPEC and its allies like Russia) recently decided to delay increasing oil production until April 2025 because of falling prices. OPEC now expects ...
From argusmedia.com|Dec 11, 2024Opec has revised down its global oil demand growth forecasts for 2024 and 2025 for a fifth time in a row. In its final Monthly Oil Market Report (MOMR) of the year, the producer group has cut its 2025 oil demand growth forecast by 90,000 b/d to 1.45mn b/d. This is entirely driven by a downgrade in its demand projection for the Middle East. From the start of this year right up until July, Opec had been forecasting global demand growth of 1.85mn b/d for next year. The group has also lowered its demand growth forecast for this year — by ...
From @zerohedge|Dec 11, 2024post: *OPEC MAKES DEEPEST CUT YET TO 2024 WORLD OIL DEMAND FORECAST post: OPEC CUTS 2024 GLOBAL OIL DEMAND GROWTH FORECAST TO 1.61 MILLION BPD (PREV. FORECAST 1.82 MILLION BPD) – MONTHLY OIL REPORT || OPEC SAYS 2024 DEMAND FORECAST DOWNGRADE TAKES INTO ACCOUNT RECENTLY RECEIVED BEARISH DATA FOR THIRD QUARTER OPEC SAYS ITS US ECONOMIC GROWTH…OPEC cuts world oil demand growth forecast The Organization of the Petroleum Exporting Countries (OPEC) revised on Wednesday the global oil demand growth forecast for 2024 to 1.6 million barrels per day (bpd) down from 1.8 million bpd in the previous report. Total world oil demand is expected to reach 105.5 million bpd in the fourth quarter of 2024 and 103.8 million bpd in the full year of 2024. OPEC also cut the global demand growth outlook for 2025 to 1.4 million bpd. Total world oil demand should stand at 105.3 bpd in 2025. "Growth is expected to be bolstered by strong air travel demand and healthy road mobility, including on-road diesel and trucking, as well as healthy industrial, construction and agricultural activities in non-OECD countries," OPEC said.
From youtube.com/spglobalcommodityinsights|Dec 9, 2024In this week's Market Movers Global with Jennifer Pedrick: OPEC+ cuts, demand outlook in focus India's marine fuel excise duty cuts set to boost port traffic Australian wheat at risk of quality downgrades from recent rains US diesel cracks running at a premium to jet crack spreads
From youtube.com/cmegroup|Nov 12, 2024WTI Crude Oil futures slightly rebound despite OPEC’s reduced demand forecast and USD strength. Bob Iaccino explains.
From bnnbloomberg.ca|Nov 12, 2024OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China. Global oil consumption will increase by 1.8 million barrels a day — just under 2% — in 2024, the Organization of Petroleum Exporting Countries in a monthly report. That’s 107,000 barrels a day less than previously forecast after data from across Asian nations like China and India, as well Africa, arrived below expectations, it said. OPEC has scaled back this year’s demand growth ...
From @DeItaone|Nov 12, 2024post: OPEC CUTS 2024 GLOBAL OIL DEMAND GROWTH FORECAST TO 1.82 MILLION BPD (PREV. FORECAST 1.93 MILLION BPD) – MONTHLY OIL REPORT OPEC CUTS 2025 GLOBAL OIL DEMAND GROWTH FORECAST TO 1.54 MILLION BPD (PREV. FORECAST 1.64 MILLION BPD) post: OPEC: OUR CRUDE OIL PRODUCTION AVERAGED 26.53 MLN BPD IN OCTOBER 2024, UP 466,000 BPD FROM SEPTEMBER LED BY LIBYADownload Monthly Oil Market Report - November 2024 In October, the OPEC Reference Basket (ORB) value increased by 86¢, or 1.2%, m-o-m, to average $74.45/b. The ICE Brent front-month contract increased by $2.51, or 3.4%, m-o-m, to average $75.38/b. The NYMEX WTI front-month contract increased by $2.19, or 3.2%, m-o-m, to average $71.56/b. The GME Oman front-month contract increased by $2.12, or 2.9%, m-o-m, to average at $75.03/b. The ICE Brent-NYMEX WTI front-month spread widened by 32¢, m-o-m, to average $3.82/b. The oil futures forward curves flattened in October but remained in backwardation. Hedge funds and other money managers showed mixed movements in their positions, contributing to volatility
From forex.com|Nov 10, 2024The October reports from OPEC and the IEA showed downward revisions in both price and demand for crude oil through 2025, reflecting concerns about geopolitical risks and supply disruptions in 2024. With a potential Trump presidency in 2025, focused on cutting energy prices by 50%, these projections could face new adjustments. OPEC has already hinted at postponing any production increases at its December meeting, adding significance to Tuesday’s report for a revised outlook. Chinese Data China will release data on new loans, FDI, ...
| Released on Dec 11, 2024 |
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| Released on Nov 12, 2024 |
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