OPEC+ fears significant oil glut after current production cut agreement ends ...News

Russia Today - Economy
OPEC+ fears significant oil glut after current production cut agreement ends
source : Russia Today ( News ) () 42
The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an internal report of an OPEC+ panel it had seen. “In 2022, a significant increase is seen, leading to an overhang of 181 million barrels by the end of the year,” the Joint Technical Committee (JTC) of the OPEC+ group said in the report. While OPEC+ sees commercial oil stocks in OECD nations below the five-year average for the rest of this year, it expects the oversupply to return in the second half of next year, according to the JTC’s internal report Reuters

Read More Details
Finally We wish PressBee provided you with enough information of ( OPEC+ fears significant oil glut after current production cut agreement ends )

Also on site :

Most viewed in Economy
Trump Slams UK’s North Sea Energy Policy, Again
OILPRICE - before 48 minute
Международный день биологического разнообразия 2025 года: Shanghai Electric отмечает глобальные усилия по защите биоразнообразия, призывая к гармонии с природой
PR Newswire - before 43 minute
SUNMI Opens Its First North American Store in Atlanta
PR Newswire - before 10 hours & 21 minute
Oil Set for Weekly Dip on OPEC+ Output Plans
OILPRICE - before 7 hours & 38 minute
Apple raises trade-in prices for iPhones in China to spur demand in key market
CNBC - before 6 hours & 20 minute
SINEXCEL y Phoenix Contact firman un acuerdo de asociación estratégica global
PR Newswire - before 6 hours & 57 minute
DORSIA, DAS WELTWEIT FÜHRENDE UNTERNEHMEN IM BEREICH GASTRONOMIE UND GASTGEWERBE-TECHNOLOGIE, GIBT SEIN „EUROPEAN SUMMER"-PROGRAMM FÜR 2025 BEKANNT
PR Newswire - before 8 hours & 58 minute
Primicia en la industria: XGRIDS presenta el complemento 3DGS Scan-to-BIM con IA para Revit
PR Newswire - before 10 hours & 4 minute
American venture capital is flowing into India like never before. Here's why
Quartz - before 4 hours & 55 minute
Asian Buyers Increase Purchases of Murban Oil
OILPRICE - before 6 hours & 26 minute
How to keep costs down at a festival
INDEPENDENT - before 6 hours & 5 minute
BYD beats Tesla in European EV sales despite EU tariffs in 'watershed moment,' report says
CNBC - before 6 hours & 56 minute


Latest News

LG USHERS IN SUMMER WITH MEMORIAL DAY PROMOTIONS ON TOP HOME AND ENTERTAINMENT PRODUCTS

before 13 minute

Markets open lower after Trump threatens tariffs on Apple and E.U.

before 23 minute

Oil Prices Under Pressure as Supply Concerns Outweigh Geopolitical Fears

before 31 minute

Международный день биологического разнообразия 2025 года: Shanghai Electric отмечает глобальные усилия по защите биоразнообразия, призывая к гармонии с природой

before 43 minute

Trump Slams UK’s North Sea Energy Policy, Again

before 48 minute

Trump threatens 25% tariffs on iPhones and 50% levies against Europe, quickly tanking stocks

before hour & 20 minute

The Real Seal Expands Community Outreach with Free Basement Waterproofing Inspections for Chicago Residents

before hour & 20 minute

How would the Big Beautiful Bill affect SALT? What you need to know.

before hour & 36 minute

Kohler inspires transformation through innovation and design at its first Kohler signature store in KSA

before hour & 54 minute

Trump recommends 50% tariff on European Union starting June 1

before hour & 56 minute

PicoCELA Inc. Announces Pricing of Public Offering

before hour & 56 minute

U.S. Courting Asian Investors for $44 Billion Alaska LNG Project

before 2 hours & minute

Bye-bye buybacks? Big Oil's record-breaking shareholder payouts are under threat

before 2 hours & 31 minute

PLAYSAFE ID RAISES $1.12M TO MAKE ONLINE GAMING SAFER

before 2 hours & 50 minute

Kentucky’s Bitcoin Boom Has Gone Bust

before 3 hours & 4 minute