LONDON -OPEC oil output has fallen in April, a Reuters survey found on Tuesday, reflecting lower exports from Iran, Iraq and Nigeria against a backdrop of ongoing. -April 30, 2024 at 12:29 pm EDT
- MarketScreener
LONDON -OPEC oil output has fallen in April, a Reuters survey found on Tuesday, reflecting lower exports from Iran, Iraq and Nigeria against a backdrop of ongoing. -April 30, 2024 at 12:29 pm EDT
- MarketScreener
LONDON (Reuters) -OPEC oil output has fallen in April, a Reuters survey found on Tuesday, reflecting lower exports from Iran, Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ alliance. The Organization of the Petroleum Exporting Countries pumped 26.49 million barrels per day (bpd) this month, down 100,000 bpd from March's revised total, the survey, based on shipping data and information from industry sources, found. Several members of OPEC+, which includes OPEC, Russia and other allies, made new cuts in January to counter economic weakness and increased supply outside the group.
End of Oil Not in Sight , OPEC Secretary General Says in MEES Article usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting emissions not oil use. In an op-ed article in the Middle East Economic Survey (MEES) published on Friday, OPEC Secretary General Haitham Al Ghais wrote there is "a worrying trend of narratives" that use terms like the end of oil, which have the potential to foster energy policies that stoke energy chaos. "What if investments in supply fall as a result, but demand for oil keeps increasing, as we are seeing today?," Al Ghais wrote in the MEES article which OPEC shared on X.