• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 8 days The United States produced more crude oil than any nation, at any time.
  • 1 day e-truck insanity
  • 7 days How Far Have We Really Gotten With Alternative Energy
  • 7 days China deletes leaked stats showing plunging birth rate for 2023
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Bad news for e-cars keeps coming

Breaking News:

Asia Coal Imports Remain Strong in June

Editorial Dept

Editorial Dept

More Info

Premium Content

OPEC+ Paves the Way for 2025 Return of Crude


In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.
Let’s take a look.

1. OPEC+ Rolls Over Voluntary Cuts, Paves the Way for 2025 Return of Crude

- OPEC+ extended their 2.2 million b/d voluntary crude production through Q3 2024, however the group has also charted a path to bring back those volumes back to the market from October 2024 onwards.
- The United Arab Emirates was the big winner of the June 2 meeting, taking place in Riyadh for the “Great Eight” of OPEC+ countries that took on voluntary production cuts, securing a quota increase of 300,000 b/d in 2025.
- Immediately after the meeting, Brent futures have shed some $3 per barrel and dipped below $80 per barrel for the first time since February, however they’ve recovered some lost territory over the past week.
- The next OPEC+ joint ministerial committee meeting is scheduled for August 1, discussing quota compliance and the outlook for demand, with the next ministerial meeting slated for December 1.

2. California Needs More Gas to Meet Surging Power Demand

- Forecasts for the US West Coast indicate California will be struggling with a scorching heat dome over the coming days, prompting a revival in the state’s natural gas consumption on the back of peak air conditioning…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News