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More oil from OPEC+ again from October onwards? – Commerzbank
Despite the current massive production losses in Libya, a media report on Friday, according to which six sources close to OPEC indicated that the eight OPEC+ countries would stick to their announcement and reduce voluntary cuts from October, caused a massive setback in the oil market, Commerzbank’s commodity analyst Barbara Lambrecht notes.
Fxstreet
Sep 3, 2024
Less OPEC oil in the short term – Commerzbank
The Reuters news agency yesterday published a first survey-based estimate of OPEC's August production: at 26.4 million barrels, the cartel's daily output was 340 thousand barrels lower than in July and thus the lowest level since January, Commerzbank’s commodity analyst Barbara Lambrecht notes.Fxstreet
Sep 3, 2024
WTI Oil falls to $70 as OPEC production rumors and reduced China demand weigh
West Texas Intermediate (WTI), the US crude Oil benchmark, is declining sharply into the $70.50s, down over 4.0% on Tuesday, as rumors of OPEC+ production cuts and concerns around slowing China demand weigh on the black gold.
Natural Gas steadies, torn between tensions in Gaza and sluggish demand
Natural Gas is trading near $2.32 with some bearish and bullish elements in play, keeping Natural Gas prices rather stable. The bullish elements are coming from tensions in the Middle East, where Israeli people are starting to question the approach fromFxstreet
Sep 3, 2024
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