“Similarly, refinery capacity additions and petrochemical margins – mostly in China and the Middle East – are expected to contribute to oil demand growth.” For 2025, Opec now projects oil consumption to increase by 1.5 million bpd, down 103,000 bpd ...

Technical analysis suggests that oil prices are eyeing a bounce but could face resistance around $74.00 and $76.35. Click to read.

Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday.