The outlook for the global crude markets remains contested
OPEC+ must wait on contested demand outlook
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
The outlook for the global crude markets remains contested, as evidenced by the widely divergent predictions for demand growth put forward by the IEA and OPEC already this year. Much will depend on the health of the Chinese economy and wider macroeconomic factors, such as inflation, across OECD economies. By contrast, there is more consensus on the outlook for the supply side of the equation. Forecasting is further complicated by the geopolitical divisions and sanctions that have fractured the global market and threaten to spill over into wider conflict. OPEC+ will not want to release the genie from the bottle for fear of not being able to put it back, but the ongoing voluntary cuts are cert
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
