Opec+ ministers look increasingly likely to agree to extend the group's current crude oil supply cuts into the second half of the year when they meet virtually on 2 June. But as ever, when it comes to this iteration of Opec+, an added surprise should never be ruled out.
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Opec+ member Kazakhstan has submitted a plan to Opec detailing how it intends to compensate for producing above its crude production target in the first four months of the year.
The IEA has released its first forecast for 2025 which shows global oil demand growth slowing to 1.15mn b/d next year some 700,000 b/d lower than Opec's latest projection.
Trading firm Gunvor plans to use part of a massive earnings windfall over the past two years to build out its asset base, its chief executive Torbjörn Törnqvist told <i>Argus</i>.