OPEC+
Pledges by China to revamp economy add to investor worries about sluggish growth
OPEC+ reiterates commitment to keeping prices above the $80 per barrel mark
Mixed demand indicators from U.S. and China keep markets cautious
Market grapples with rising crude stockpiles and interest rate speculations
U.S. crude stocks data overshadows speculation on OPEC+ output cuts extension
China emerges as primary merchandise trading partner
Weak U.S. retail sales data spurs optimism for rate cuts
OPEC bullish on oil demand in contrast to more bearish IEA forecast
Suggesting potential for even greater growth
Commitment to sustainability and global oil market stability takes center stage
Report highlights economic diversification efforts and the impact of OPEC+ decisions on GDP
Kingdom's economy achieved a growth rate of 8.7 percent in 2022
UAE's non-oil sector witnessed strong growth in 2023
OPEC maintains 2.25 mn bpd demand growth forecast
Red Sea tensions add to shipping costs but energy flows unaffected
Non-OPEC+ supply and demand concerns offset OPEC+ cuts, Mideast tensions
December PMI data reveals robust growth driven by output and new orders
Brent crude futures increased by 0.64 percent to $79.92 per barrel
Crude prices face headwinds as market focus shifts to slow demand and trade disruptions
OPEC+ has been reducing oil production by 5.16 million barrels per day
The report comes ahead of the scheduled meeting of OPEC+ on Nov. 26
Prices of Brent and WTI crude futures both saw declines
Massive investment of $14 trn needed to meet demand surge
