Archivi tag: opec

Crude Oil Futures Heading Lower on Rise in OPEC Output

Originally posted on 24/7 Wall St.:
The Organization of Petroleum Exporting Countries (OPEC) produced 30.46 million barrels of crude every day last month, well above its agreed quota of 30 million barrels a day. The message: supply is available and even…

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OPEC Maintains Lower Demand Forecast; Oil Futures Dive

Originally posted on 24/7 Wall St.:
The Organization of Petroleum Exporting Countries (OPEC) released its May Oil Market Report this morning. The cartel did not materially change its forecast for global demand growth of 800,000 barrels a day to a total…

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