09 Dec 2024
OPEC+, which represents nearly half of global oil supply, announced plans to gradually increase production starting in April 2025. The 18-month phased approach will reverse previous output cuts at a slower pace than initially expected.
09 Dec 2024
06 Dec 2024
05 Dec 2024
The OPEC+ alliance is set to convene on Thursday, with expectations that the group will extend production cuts through the first quarter of 2025. While this move could help alleviate near-term oversupply pressures, it also underscores lingering concerns about global demand dynamics.
05 Dec 2024
On 04 December 2024, the Indonesian Anti-Dumping Committee (KADI) launched an investigation into alleged anti-dumping practices involving homo-polypropylene (homo-PP) imports under HS code 3902.10.40 from eight countries
05 Dec 2024
Transpacific ocean freight rates have surged to start December, driven by proactive shipping ahead of a potential port strike on the US East Coast after January 15 and anticipated tariff increases in 2025. Rates to the US West Coast have climbed to their highest levels since January 2024
05 Dec 2024
Refinery utilization rates surged to 93.3%—the highest level in four months—driving the decline in crude stockpiles. Simultaneously, total motor gasoline inventories rose by 2.4 million barrels from the previous week, reaching 214.6 million barrels.
