News about OPEC

The 10th High-level Meeting of the OPEC-Russia Energy Dialogue was held today 18 June 2025 on the Sidelines of St. Petersburg International Economic Forum that is taking Place on 18-21 June 2025, in Saint Petersburg, The Meeting was co-chaired by HE Alexander Novak, Deputy pic.x.com/4HhYO0b6eO

Crude oil production by countries participating in the DoC increased by 180 tb/d in May, m-o-m, to average about 41.23 mb/d, according to available secondary sources. pic.x.com/x4Plrixm5R

OIL MARKET: In its monthly oil market update, @IEA sees oil market massively oversupplied, with global inventories increasing at a rate of ~1m b/d since February. IEA cut slightly its forecast for oil demand growth in 2025 to 720,000 b/d (from 740,000 b/d last month). #OOTT

2025 global #crudeoil demand growth continues to trend lower with the @IEA trimming its forecast to 724k b/d from 741k b/d. A wide gap exists between OPEC and IEA forecasts, both for this year and next. #oott pic.x.com/ACgJn7gcyi