Sunday, December 1, 2024
Goldman expects an 'uneventful' three-month OPEC output cut extension-oil and gas 360

Goldman expects an ‘uneventful’ three-month OPEC output cut extension

Reuters Goldman Sachs said on Monday the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely extend its current output curbs through June, but expects the “uneventful” three-month extension to provide little support to prices. OPEC and other global producers including Russia, a group known as OPEC+ have been cutting output by 1.2 million barrels per day

Oil could fall below $40 unless OPEC deepens cuts: Report- oil and gas 360

Oil could fall below $40 unless OPEC deepens cuts: Report

Houston Chronicle Crude oil prices are expected to plunge to $40 a barrel in 2020 unless OPEC and Russia agree to deepen – and not just extend – their production cuts, according to a new report from the Norwegian research firm Rystad Energy. The Organization of the Petroleum Exporting Countries and their allies, led by Russia, are meeting Thursday and Friday