Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
Given that oil demand growth next year probably won't be much more than 1 million barrels a day, a full unwinding of OPEC+ supply cuts in 2025 would "undoubtedly see a very steep slide in crude prices, possibly toward $40 a barrel," Henning Gloystein, head of energy, climate and resources at Eurasia Group, told CNBC.
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...
Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed ...
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Oil prices hold near 2-week low on gloomy demand outlook(Reuters) - Oil prices held near their lowest in two weeks on Wednesday, a day after OPEC downgraded its forecast for ...
Oil futures settled higher for a third session in a row on Thursday, but that wasn’t enough to shake off their losses for the week so far, with prices for ...
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
Oil prices steadied on Tuesday, recovering from a 5% drop over the previous two sessions, as investors absorbed OPEC's latest ...
Prices, meanwhile, rose on Wednesday but today reversed their gains under the weight of lower demand expectations coupled with ample supply indications. Both OPEC and IEA signaled they expected a ...
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