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 prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed ...
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...
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 ...
Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures ...
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
Oil extended its biggest drop in almost two weeks as a soft outlook in top importer China continued to plague the market.Most ...
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