From Investing.com: 2024-12-05 23:54:00

OPEC+ members extended supply cuts into next year and will bring supply back at a slower pace, aiming to reduce surplus in 2025. The market reacted with ICE Brent settling slightly lower at US$72/bbl. The extension reduces surplus in 2025, but market remains in surplus in 1H25 and balance in 3Q25 before returning to surplus in Q4. Expectations for global demand growth in 2025 are modest, with potential downside risks in prices.



Read more at Investing.com: Oil: OPEC+ Extends Supply Cuts and Shapes the Market’s Future