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Discover Latest #OPEC News, Articles and Videos with Contenting
OPEC OPEC (Organization of the Petroleum Exporting Countries) is a group of 13 major oil-exporting nations, including Saudi Arabia, Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the United Arab Emirates, Venezuela and Indonesia. The mission of the organization is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. OPEC works to ensure the stability of global oil prices and promote the development of economic and social projects in member countries. OPEC also works to reduce global dependence on oil and promote the use of alternative energy sources.
Peter McGuire oil market outlook: EMs to drive oil demand in H2 2025: Peter McGuire - The Economic Times
Peter McGuire suggests oil prices are rangebound, influenced by growth in Brazil, China, and India. Despite OPEC+'s unchanged demand forecast, continued economic re-engagement should sustain consumption. The market anticipates OPEC+ potentially pausing output hikes after September, contingent on tariffs, inflation, and compliance. McGuire expects a Q4 glut, leading to cheaper oil prices due to increased production.
Ibovespa Drops 0.7% on the Week - ForexTV
The Ibovespa experienced a decline of 0.5% on Friday, settling at 132,437, which contributed to a 0.7% decrease for the week. This downturn was influenced by ongoing industrial contraction, a significant drop in oil prices, and the introduction of new trade tariffs that dampened investor interest. The July Purchasing Managers' Index (PMI) remained stagnant at 48.2 for the third consecutive month, while June's industrial production marginally increased by 0.1% following no growth in May, highlighting the sluggish economic expansion. Oil prices dropped due to projections of increased OPEC+ supply coupled with diminished demand, leading to a 2.2% decline in Petrobras shares. Additionally, President Trump's implementation of a 50% tariff on Brazilian exports rekindled fears regarding export revenue, resulting in profit-taking within the agricultural and mining sectors. Even Embraer's exemption from a 10% tariff did not bolster its stocks, as concerns over margin pressures became apparent. Meanwhile, subdued U.S. payrolls at 73,000 jobs, coupled with significant revisions, cast a shadow on the global economic outlook and spurred early bets on Federal Reserve interest rate cuts, which have subsequently tightened the availability of funds for equities in emerging markets.The material has been provided by InstaForex Company - www.instaforex.com
OPEC+ Agrees In Principle To Another Bumper Supply Increase
OPEC+ members have agreed in principle on another bumper oil production increase for September, according to a delegate, as the group moves to reclaim its share of global crude markets. Saudi Arabia and its partners plan to ratify the addition of 548,000 barrels a day for next month when they hold a video conference on Sunday, the delegate said. The increase would complete the reversal of a 2.2 million-barrel cutback made by eight members of the group in 2023.
OPEC Turns The Output Tap On: What It Means For Oil ETFs
Oil-focused ETFs came under pressure this week after OPEC+ announced plans to boost production starting in September, raising fresh concerns over an oversupplied market. USO ETF is in the red today. Check its prices live, here. The cartel will unwind the last leg of its voluntary production cuts, adding roughly 547,000 barrels per day back into global supply, reported Bloomberg. The move weighed on crude prices and hit popular oil ETFs tied to near-term futures contracts. Also Read: India Stands
WTI Crude Forecast: Risk premium fades, supply pressures mount, bearish trend ahead
WTI crude oil prices drop 18% from June highs as geopolitical risks ease. Rising US inventories, possible Russian oil sanction cuts, and OPEC+ hikes signal further downside, with bearish technicals pointing to lower levels.
Weak US labor market data increased the likelihood of a Fed rate cut. Oil prices fall amid rumors that OPEC plans to raise production :: InvestMacro
InvestMacro forex news, trading apps & technical analysis including Currency trading blog, Metatrader 4 apps, indicators, interviews and financial market articles
Baystreet.ca - Oil Prices Set for Dramatic Weekly Drop on Tariff Fallout
Crude oil prices were headed for a steep weekly drop as of Friday morning, with a combination of tariff fears and OPEC+ production instilling a strong sense of bearishness in oil traders. At the time of writing, Brent crude was trading at $66.39 ...