As oil production gradually increases and global oil demand growth remains relatively weak, global oil inventories are expected to rise, exerting downward pressure on prices.
The new year has started with a new rally for oil prices fueled by stronger stimulus measures proposed by the Chinese government and by a draw in crude inventories.
On Dec. 5, 2024, OPEC+ announced another 3-month delay to its planned oil output increases, the third deferral, pushing the timeline to April 2025 and prolonging the complete ...
