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BBCNEWS World July 5, 2024

the price of oil on international markets is not high enough for them. oil and energy leaders are gathering again today in vienna for the latest opec summit. the biggest and most powerful player saudi arabia started this week with the news it s extending its voluntary output cut of1 million barrels per day to august. russia is making a similar move. but these cuts are failing to boost energy prices. why? jonathan robinsonjoins me now to explain he is global power & energy research director at frost and sullivan. just talk us through our oil is at the moment. just talk us through our oil is at the moment. oil, despite the cuts in production, at the moment. oil, despite the cuts in production, oil at the moment. oil, despite the cuts in production, oil prices- cuts in production, oil prices have stayed relatively low in what we have seen historically in the past year, 1.5 years. there are a few specific reasons for that. chinese demand, industrial out would, incre ....

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BBCNEWS World Business Report June 4, 2024 04:31:00

The price of oil on international markets is not high enough for them. oil and energy leaders are gathering again today in vienna for the latest opec summit. the biggest and most powerful player saudi arabia started this week with the news it s extending its voluntary output cut of1 million barrels per day to august. russia is making a similar move. but these cuts are failing to boost energy prices. why? jonathan robinsonjoins me now to explain he is global power & energy research director at frost and sullivan. just talk us through our oil is at the moment. just talk us through our oil is at the moment. oil, despite the cuts in production, at the moment. oil, despite the cuts in production, oil at the moment. oil, despite the cuts in production, oil prices- cuts in production, oil prices have stayed relatively low in what we have seen historically in the past year, 1.5 years. there are a few specific reasons for that. chinese demand, industrial out would, ....

Saudi Arabia , Energy Prices , Output Cut , Opec Summit , Jonathan Robinsonjoins Me , Energy Research , Industrial Out Would , Oil Prices , 1 5 ,

BBCNEWS World Business Report June 4, 2024 04:32:00

Increasing us production. is increasing us production. is there also an expectation we are going to use this going forward if economies are slow? exactly. the decline in economic activity that we are starting to see means we are seeing industrial consumers using a bit less loyal expect a bit less oil, things are buoyant so demand is lower in the market is concerned over demand weaknesses. £311 the market is concerned over demand weaknesses.- demand weaknesses. our oil traders and demand weaknesses. our oil traders and investors - demand weaknesses. our oil| traders and investorsjittery? traders and investors jittery? have we not already got the news, monday, saudi arabia saying we are extending cuts? they already have an idea of what is going on, they will be looking to see if there is any additional signals from the meeting today which will change things. at the moment, for traders, they are not looking to hold excess amounts of oil. inflation has obviously been reasonably higher, ....

Industrial Out Would , Saudi Arabia , Oil Traders , Demand Weaknesses , Tie Inflation ,