IEA Cuts Oil Demand Forecast for 2024 but OPEC Remains Bullish
While geopolitical tensions have the oil market “on edge,” the IEA expects a well-supplied market amid weaker demand.
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OPEC and IEA at Odds Over Long-Term Oil Demand Outlook
The divergence between the IEA and OPEC outlooks is largely due to assumptions regarding the speed at which internal combustion engine vehicles will be replaced by electric vehicles.
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Global Oil Prices Spiral Higher After Saudi Arabia and Russia Extend Supply Cuts
A substantial drawdown on global oil stocks is forecast for the fourth quarter amid record oil demand, accelerating the rise in oil prices to the $100 per barrel threshold.
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OPEC+ in a Battle Royal to Drive Oil Prices Higher but Macroeconomic Headwinds Thwart Progress
Saudi Arabia extends steep “voluntary” production cut through August but a weaker-than-expected Chinese economic recovery weighs heavily on market sentiment.
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Saudi Arabia Makes Unilateral Production Cut as OPEC+ Extends Quotas
Despite a “voluntary” production cut announced by Saudi Arabia for July, economic uncertainty overshadowed the June 4 OPEC+ meeting.
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Oil Markets Face Uncertainty After Surprise OPEC+ Production Cut
OPEC+ supply cuts starting in May could aggravate an expected oil supply deficit in the second half of 2023 at a period of greater economic uncertainty.
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Oil Markets Stable but Chinese Demand Surge and Russian Output Cut Pose Risks
Whether oil supply will match an anticipated demand surge hinges on Russia’s response to sanctions and OPEC+ output policy.
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IEA Projects Record Oil Demand in 2023, but Russia and China are Key
Oil market reports highlight uncertainties relating to the speed of the recovery in China and the impact of sanctions on Russian oil exports.
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OPEC+ Stays Put as Russia Oil Price Cap and EU Embargo Come Into Force
The oil market is showing concerns over weakening oil demand, and new Western sanctions on Russia have introduced an added element of uncertainty in a market already reeling from the repercussions of the Ukraine crisis.
The U.S. Prevented War, Yet Iran’s Strategic Decision-Making Process Remains Flawed
The crisis between Iran and Israel may be contained for now, but the breakdown in decision making that led to the end of Iran’s “strategic patience” carries risks going forward.
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Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.
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