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Big news from the oil market! OPEC+ agrees to extend collective production cuts until the end of 2025
Delegates at the meeting said that these restrictions are aimed at boosting prices and avoiding global oversupply.
Saudi Arabia plans to start resuming part of international oil supply in October in response to falling international oil prices
Oil prices extended their decline as outsiders worried about the outlook for demand and strong supply.
The US oil and gas industry is reviving: after years of underinvestment, the market has entered crazy integration
① ConocoPhillips announced last week that it will acquire Marathon Petroleum, and its valuation has also jumped to 150 billion US dollars; ② The US oil and gas industry has seen frequent mergers and acquisitions since last year, revealing a trend of consolidation in the entire industry; ③ According to a survey by the US Dallas Federal Reserve, the industry estimates that there will be more mergers and acquisitions in the next two years.
Good for crude oil! OPEC+ extends production cuts until 2025, and demand is expected as the driving season approaches
OPEC+ agreed on Sunday to extend its official crude oil production reduction agreement until 2025, and extended two additional sets of supply restrictions at various times. With the seasonal start of the summer driving season and the end of refinery maintenance work in some Asian countries, OPEC's attention has turned to balancing supply and demand.
What is the impact of the OPEC+ extension of the production reduction agreement on oil prices? Analysts have mixed opinions
OPEC+ extends the collective production reduction plan, but the plan will abolish resource production reduction measures.
OPEC+ sends a big signal! Lower oil prices
OPEC+ agreed to extend collective production cuts until the end of 2025, but major member states will begin reducing the scale of voluntary production cuts in October. The market gave mixed reviews.