OPEC+
This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month
Sustained oil output, growing non-oil investments key to healthy economy
The rise in prices is fueled by geopolitical tension and supply concerns
Mixed U.S. inventories impact crude oil gains, production offset by fuel demand
Concerns arose from attacks on Russian refineries and potential conflict escalation in the Middle East
Iraq and Nigeria lead reductions, maintaining OPEC's commitment to supply restraint
China and U.S. demand boost prices amid Middle East conflict
China's manufacturing activity expanded for the first time in six months in March
OPEC believes that the oil industry will need approximately $11.1 trillion by 2045
Russia's commitment to deeper production cuts as a key factor influencing the crude oil market in the coming months
Market concerns rise as major producers hold output policy steady
Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition
Al-Ghais highlighted that calls to abandon oil were "wrong" and "unrealistic"
Nasser emphasizes the effectiveness of carbon capture in mitigating greenhouse gasses
OPEC+ extends output cuts amid market dynamics and global demand predictions
Surging prices fueled by refinery activity, China demand, and Middle East disruptions
Surprise decline in U.S. crude stockpiles supports prices
Surprising drop in U.S. oil and gasoline inventories points to increased demand from top fuel consumer
Concerns over China's economic weakness continue to impact oil market
Despite decline in oil production, diverse industries foster growth in the kingdom
Mixed signals from U.S. jobs data impact prices
OPEC+ output cuts offset worries over China's economic growth
Pledges by China to revamp economy add to investor worries about sluggish growth
