The next OPEC meeting is looming, with oil markets now fully focused on rumors that the group may further postpone production increases.
Oil markets are fully focused on this Sunday's
meeting after top officials from the three biggest producers in the alliance met on Tuesday.- European gas prices have surged almost 45% this year and forecasts for cold weather threaten to add pressures on gas supply, further aggravated by US sanctions on Gazprom's very own banking subsidiary, Gazprombank.
is becoming the main focus of oil markets. After the energy ministers of Saudi Arabia, Russia, and Iraq met in Baghdad on Tuesday, unannounced, the pendulum has swung towards postponement of production increases, with ICE Brent so far rangebound at around $73.50 per barrel. Meeting No Longer Happening in Person.
will hold its much-anticipated policy meeting online rather than in person, as the oil markets are speculating about Saudi Arabia and Russia considering postponing output increases indefinitely amidst weak global demand.China Issues Extra Quota for Independents. China has issued an additional crude import quota of 5.
OPEC+ Supply Demand Energy Oil Market WTI Brent
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