OPEC+ postpones planned production increase until the end of the year – Commerzbank
05.11.2024, 11:34

OPEC+ postpones planned production increase until the end of the year – Commerzbank

The OPEC Secretariat announced over the weekend that the voluntary production cuts of eight OPEC+ countries would be maintained in full until the end of the year. In addition, the countries have committed to strict implementation of the promised production cuts, including compensatory cuts to offset previous overproduction, Commerzbank’s commodity analyst Carsten Fritsch notes.

OPEC+ productions cut to be maintained

“It had already been hinted last week that the gradual increase in production planned for next month would be postponed again. Therefore, this was no longer a big surprise. An increase in supply in December would have risked triggering a decline in oil prices, even if the monthly production increase of 180,000 barrels per day had been small.”

“The signal alone and the prospect of further production increases in the following months would probably have been enough to put oil prices under pressure. The next regular OPEC+ meeting will take place on 1 December, when a decision is to be taken on oil production in the first half of 2025. Given weakening demand and rising oil supply outside OPEC+, there is no scope for OPEC+ to expand production without risking oversupply and a price decline.”

“Therefore, OPEC+ is unlikely to have much of a choice in a month's time other than to postpone the production increase again. Yesterday, the OPEC Secretary General was very optimistic about oil demand. However, if the demand outlook is indeed so positive, there would have been no need to postpone the planned gradual withdrawal of the voluntary production cuts.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik