The US plans to lower oil prices with Saudi Arabia’s assistance. US Energy Secretary Chris Wright stated: “Under Trump’s presidency, we will likely see lower average energy prices in the next four years compared to the previous four years.” He hig... #OilDemand #Oilmining #OilPrices #OPEC #SaudiArabia #SaudiAramco
The World Bank predicts a historic oil surplus that will cause prices to fall in 2025. The World Bank predicts that in 2024-2025 global oil supply will exceed demand by an average of 1.2 million barrels per day. This surplus will likely limit the price effects from an even wider conflic... #OilDemand #OilProduction #OPEC #worldbank
Analysts predict oversaturation of the oil market in 2024 and a drop in oil prices. The increase in oil production in countries that are not part of OPEC+, including the US, may oversaturate global demand, which is growing slowly, and will lead to lower prices. Although the OPEC+ oil... #OilDemand #OilPrices #OilProduction #OPEC
High oil demand will fade into history as a result of the Russian invasion of Ukraine and high prices, predicted the International Energy Agency (IEA). Energy experts predict that growth in global oil demand will come to a virtual halt over the next few years as high prices and Russia’s incursion... #IEA #OilDemand #OilProduction #RenewableEnergy
