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Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research has said.
The Wall Street bank had forecast Brent to trade at $86 in December and $93 at the end of 2024.
President Joe Biden’s administration on Wednesday canceled seven ten-year oil and gas drilling licenses granted to the Alaska Industrial Development and Export Authority (AIDEA) by former President Donald Trump.
This positive tone continued Tuesday, helped by the release of the monthly report from the Organization of Petroleum Exporting Countries, with the group of top producers retaining its forecasts for robust growth in global oil demand this year and next even with several economic headwinds.
Not necessarily so. Crude production cuts are attempts to stabilize crude oil prices. It will be less volatile. Easier to manage. Easier to plan production cost. Hence, good control for inflation.
The ban on fuel exports will continue as needed, there is no deadline - Latest statements from Dmitry Peskov, the press secretary of the President of the Russian Federation.
Four OPEC+ sources told Reuters the group is unlikely to change its policies when its Joint Ministerial Monitoring Committee meets on Wednesday.
u guys so outdated...comments were a month ago baru see comment ar...too late la..if you know how to read chart, follow your chart...wait for next chance
Ai ya.. Last time said long term investment.. Now say people outdated... Like to talk nonsense only.. Read chart +? Ha.. Ha..Last month share price also didn't exceed RM3. 00.. Talk big only