The Organization of the Petroleum Exporting Countries (OPEC) has issued a downward revision to its forecast for global oil demand in 2025. According to the organization's latest monthly bulletin, the expected increase in global consumption is now projected at 1.3 million barrels per day, a reduction of 150,000 barrels per day from previous estimates.
The global oil market is currently grappling with significant volatility, driven by the ongoing trade conflict between the United States and China. Concerns over declining economic growth and falling crude oil demand are weighing on prices, impacting major benchmarks as well as regional markets. This article offers an in-depth review of external factors affecting oil prices, analyzes the latest data, and provides an expert assessment of the evolving situation.
Recently, alarming trends have emerged in the oil market, driven by changes in Saudi Arabia's pricing policy and a deteriorating global economic outlook. This has led to a significant drop in oil prices, raising concerns among experts and analysts.
Recent developments in the oil and gas sector have once again captured the attention of market experts. ConocoPhillips is considering the sale of oil and gas assets in Oklahoma that the company inherited following its acquisition of Marathon Oil last year for USD 22.5 billion. This move is part of a broader strategy aimed at optimizing its asset portfolio and enhancing operational efficiency against a backdrop of a rapidly evolving market.
Recent policy shifts in the U.S. energy sector have raised significant geopolitical and economic questions. President Donald Trump's new decree imposes a 25% tariff on any country purchasing oil or gas from Venezuela, while also extending the grace period that allows Chevron to operate in the South American nation. This article examines the key provisions of the decree, its potential effects on financial markets, and the broader implications for the international energy trade.
US President-elect Donald Trump intends to appoint Chris Wright, the head of the Liberty Energy oil company, as energy minister. The Republican called him one of the pioneers in the "American shale revolution."
