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The oil market will become oversupplied by the end of 2024.
... products and raw materials, explains this trend with the following factors:
Easing of OPEC+ quotas: Saudi Arabia, Russia, and other alliance members plan to increase oil production by December 2024, adding an extra 540,000 barrels per day to the market.
Rising production in Iran: Despite sanctions, Iran is ramping up oil production, reaching 3.25 million barrels per day in the first half of 2024, nearing its 2017 levels.
Growth in U.S. production: Output is projected to rise from 13.2 million barrels per day in the second quarter to 13.5 million barrels per day in the fourth quarter of 2024, driven by high prices that sustain profitability for shale projects.
Tereshkin ...
Is the production of petroleum products decreasing in Russia?
... published by Rosstat without quantitative indicators, decreased by 2.7% in the first eight months of 2024.
The main conclusion: Indirect indicators suggest that petroleum product production continues to decline. This is putting pressure on the gasoline market, where retail price growth is significantly outpacing the general inflation rate.
The decline in production is linked to unscheduled repairs at refineries, the completion of which is difficult to predict due to sanctions on the supply of refining equipment.
This is ...
Dedollarization of Global Finance: Reducing Investments in US Treasury Securities
... markets.
If you want to gain a deeper understanding of current changes in global financial markets, stay with us — Open Oil Market continues to monitor key economic events.
The Dollar Strengthens, the Euro Weakens: DXY Index at Its Highest Since November ... ... that same period.
Factors Influencing Currency Movement:
Dollar Strength:
Positive economic data from the U.S., including job growth and economic resilience.
Revised expectations for Federal Reserve monetary policy, which may keep rates high longer than ...
How to Select Stocks for Your Investment Portfolio as a Beginner
... top-notch brokers with strong analytical skills or independent specialists. The portfolio is constructed based on specific parameters, taking into account potential risks and expected returns.
The brokers include shares of leading domestic companies with growth prospects. They closely monitor all market fluctuations. Recommendations regarding the portfolio and its contents are updated according to changes in the market.
Advantages
The Model Portfolio offers investors numerous advantages:
Low risks. Due to constant monitoring, forecasts can be ...
Where Does Slavneft Invest?
... and increasing energy efficiency. The company also invested in the development of transport infrastructure to optimize logistics chains and improve supply efficiency. These strategic investments are aimed at strengthening Slavneft's position in the market and ensuring sustainable growth in the long term.
Where Is Slavneft Investing?
Slavneft
is one of Russia's leading oil and gas companies, specializing in the exploration, production, and refining of oil and gas. In 2023, the company allocated 98 billion rubles for the development ...