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 ...
Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ...
OPEC's oil production increased in October due to Libya's return to full capacity, offsetting declines from other members.
Oil prices steadied on Tuesday, recovering from a 5% drop over the previous two sessions, as investors absorbed OPEC's latest ...
Oil extended its biggest drop in almost two weeks as a soft outlook in top importer China continued to plague the market.Most ...
Oil futures edge higher Thursday, consolidating after slumping in the face of a surging U.S. dollar, as investors weighed a ...
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand ...
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