Oil
Concerns arose from attacks on Russian refineries and potential conflict escalation in the Middle East
Iraq and Nigeria lead reductions, maintaining OPEC's commitment to supply restraint
China and U.S. demand boost prices amid Middle East conflict
Oil production cuts to keep economic growth low at about 1.4 percent in 2024
OPEC believes that the oil industry will need approximately $11.1 trillion by 2045
Russia's commitment to deeper production cuts as a key factor influencing the crude oil market in the coming months
Belbazem offshore block's production capacity set to increase: 45,000 bpd of crude oil and 27 million mmscfd of gas
For FY 2023/2024, Egypt has raised its projected total investments in oil and natural gas to $5.79 billion
Market concerns rise as major producers hold output policy steady
Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition
The attacks caused potential disruptions to oil capacity, estimated at 900k bpd
