... for oil products and raw materials, explained to the nprom.online portal the reasons behind the increase in supply. "First, the easing of OPEC+ quotas will play a significant role. According to the schedule published after the June ministerial meeting of OPEC+, Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Oman, and Algeria will increase quotas by more than 540,000 barrels per day by December 2024 compared to the levels set for the June-September 2024 period. The largest quota increases will ...

... 2020—overall global oil consumption continues to grow. Analysts forecast that global demand will increase by approximately 1.2 million barrels per day in the second half of 2025, reflecting a sustained recovery in economic activity. Supply and OPEC+ Policy. OPEC+ countries are consistently increasing production, effectively unwinding previous cuts ahead of schedule. At an extraordinary meeting in early August, members agreed to raise the total quota by 547,000 barrels/day in September—completely offsetting one of the previously largest reductions in effect. Many key exporters are already producing close to maximum levels: for instance,...

... reflecting strong demand and preventing prices from dropping sharply. Concurrently, expectations for a easing of monetary policy in leading economies boost investor interest in commodity assets, including oil. The market is also closely watching the OPEC+ Joint Monitoring Committee (JMMC) meeting on July 28; while the committee lacks the authority to change production quotas, its recommendations and signals could influence short-term price dynamics. Consequently, the oil market enters a new week in a state of relative equilibrium. Brent ...

... December 6, 2024, presents a packed economic calendar for investors and traders. Key events include the release of Manufacturing and Services PMI data across various countries, crucial U.S. economic indicators such as the Nonfarm Payrolls report, an OPEC+ meeting that could impact oil markets, and several dividend payments and investor days for major Russian companies. Market participants should closely monitor these events as they may significantly influence financial markets and trading decisions in ...

... 00:05 MSK. Expected change: -1.5%. Stitch Fix Inc (SFIX): report at 00:05 MSK. Expected change: -16.1%. Wednesday, December 11 OPEC: Monthly Oil Market Report (14:00 MSK) The report will present updated estimates of demand, supply, and trends in oil markets.... ... expectations. Key Friday Reports (US and Russia) Russian companies: NPO "Nauka" (NAUK): Extraordinary shareholders meeting on dividends for 9 months of 2024 at 2.92 rubles per share. Novorossiysk Grain Plant (NKHP): Last day to buy shares with ...