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Kazakhstan Reaches Record Oil Production of 2.12 Million bbl/d, Exceeding OPEC+ Quota

Egypt Oil & Gas

million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. million bbl/d, which takes into account Kazakhstan’s tons per barrel ratio of 7.5. Million bbl/d, Exceeding OPEC+ Quota first appeared on Egypt Oil & Gas. from January to 1.83

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Goldman Sachs: Risk in Oil Markets Is Skewed to the Downside

OilPrice

While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from potentially lower sanctioned supply remains too low, Goldman Sachs analysts wrote in a Tuesday note carried by Reuters.

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Goldman Sachs lowers oil price forecast after OPEC+ decision to boost output

Oil & Gas 360º

The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate. It has also cut its forecast for West Texas Intermediate (WTI) crude by $3/bbl, now projecting it to average $56/bbl for the remainder of 2025 and $52/bbl in 2026.

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OPEC+ Reaffirms to Increase Production by 411,000 bbl/d in May

Egypt Oil & Gas

The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (bbl/d), equivalent to three monthly increments, in May 2025. The post OPEC+ Reaffirms to Increase Production by 411,000 bbl/d in May first appeared on Egypt Oil & Gas.

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WoodMac: Oil sector investment at risk amid tariff uncertainty, price volatility

Oil & Gas Journal

The global oil industry has been on alert since oil prices dropped below $60/bbl. Investment in the US Lower 48 tight oil sector has shown notable sensitivity.

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Oil companies slip further as oversupply fears add to tariff worries

BOE Report

bbl by [Read more] (Updates) ** Shares of oil companies decline further in morning trading after eight OPEC+ countries announced they would advance their plan for oil output hikes * OPEC+ will increase output by 411,000 barrels per day in May ** Brent futures fall 6.1% West Texas Intermediate crude futures decline 6.6%

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Goldman Sachs sees downside risk to oil price view amid tariffs, spare capacity

BOE Report

“While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from [Read more] Tariff escalation and high spare capacity skew medium-term risks to Goldman Sachs’ oil price forecast to the downside, the bank said.

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