THE Organization of the Petroleum Exporting Countries (Opec) announced on Wednesday, Feb ... In its February monthly oil market report, Opec forecast a “healthy” global oil demand growth of 1.4 million ...
Its relatively quick production response time (compared to conventional oil fields) makes it a key source of non-OPEC+ supply, influencing OPEC+’s decisions as they account for this competitive output.
OPEC+ Considers ProductionPolicy Adjustments. The Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, reportedly debate potential output increases during their upcoming ministerial meeting.
While concerns over potential disruptions in oil supply due to US-Iran tensions kept prices stable, OPEC+ is considering increasing production from April.
Oil prices settled marginally higher on Friday after data showed an overall slowdown in US inflation, helping offset supply concerns as OPEC+ is leaning towards a resumption in production increases.