Skip to main content
Skip to footer
U.S. crude production escalates to 13.15 million barrels per day in February
Brent futures rose by $2.63, reaching $89.74 per barrel
This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month
Brent crude futures for June delivery fell 23 cents, or 0.2 percent, to $90.22 per barrel
Sustained oil output, growing non-oil investments key to healthy economy
OPEC sees demand growing by 2.25 million barrels per day in 2024
Brent oil futures expiring in June rose by 0.6 percent to reach $90.89 per barrel
The rise in prices is fueled by geopolitical tension and supply concerns
Escalating geopolitical tensions and ongoing supply restrictions propel oil prices
Mixed U.S. inventories impact crude oil gains, production offset by fuel demand
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
Green finance emerges as major player in supporting economic diversification efforts
Oil production cuts to keep economic growth low at about 1.4 percent in 2024
China's manufacturing activity expanded for the first time in six months in March
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
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
Al-Ghais highlighted that calls to abandon oil were "wrong" and "unrealistic"
Nasser emphasizes the effectiveness of carbon capture in mitigating greenhouse gasses
OPEC+ extends output cuts amid market dynamics and global demand predictions
Surging prices fueled by refinery activity, China demand, and Middle East disruptions
