Oil poised for supply tightness on seasonal demand, likely OPEC+ move


FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture. REUTERS/Dado Ruvic

GLOBAL oil markets are likely to witness some supply tightness in the second half of 2024 on growing expectations that OPEC and its allies will roll over their production cuts when they meet in early June, while robust seasonal demand could pull down crude inventories.

These factors, in addition to turbulent geopolitics in the Middle East, might put a floor on oil prices for now.

Start your ads-free experience now!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

S&P Global , Opec , Brent , Sambit Mohanty , Middle East , OPEC+

   

Next In Insight

Republicans are inventors, Democrats are innovators
Oklahoma outshines rival states in energy transition progress
Regaining fiscal space via subsidy rationalisation
Irrational fear impedes free trade and progress
Can Generative AI unlock productivity and growth?
How Amazon blew Alexa’s shot to dominate AI, according to more than a dozen employees who worked on it
China should flex some monetary muscle
US stock concentration – it’s not all doom and gloom, say experts
Wage stagnation and productivity
South-East Asia no longer tethered to Fed decisions

Others Also Read