Latest news with #supplyglut
Wall Street Journal
07-07-2025
- Business
- Wall Street Journal
Oil Slips on Larger OPEC+ Output Hike
Oil prices slipped after the Organization of the Petroleum Exporting Countries and its allies agreed to a larger-than-expected production hike for the fourth straight month, fueling concerns about a global supply glut at a time when the demand outlook looks uncertain. Eight OPEC+ countries said they will increase production by 548,000 barrels a day in August–the equivalent of four monthly increments and above the 411,000 barrels a day forecast by analysts.
Bloomberg
04-07-2025
- Business
- Bloomberg
Vakhshouri: OPEC a Stabilizing Factor in Oil Market
Oil was trading slightly lower ahead of an OPEC+ meeting on July 6 that is set to deliver another oversized production hike. The alliance is discussing a further increase of more than 400,000 barrels a day from August which risks causing a supply glut later in the year. Dr. Sara Vakhshouri President & Founder at SVB Energy International spoke to Bloomberg's Lizzy Burden on Horizons Middle East and Africa about the upcoming meeting. (Source: Bloomberg)
