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OPEC+ cartel's grip on oil market loosening: IEA
OPEC+ cartel's grip on oil market loosening: IEA
by  AFP

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday. "The continued rise in output and slowing demand growth will complicate efforts by key producers to defend their market share and maintain elevated oil prices," the International Energy Agency said in its monthly report on the oil market.

Policies to support energy transition losers may fall short
Policies to support energy transition losers may fall short
by  AFP

US efforts to transition to cleaner energy carry risks of mass layoffs in mature industries, say experts, who warn that policies to cushion the blow may not live up to hype. Of particular concern is a potential mass-layoff event such as the shuttering of an ICE assembly plant or an oil refinery.

Asian stocks track record day on Wall St, dollar extends losses
Asian stocks track record day on Wall St, dollar extends losses
by  AFP

Asian markets rallied Thursday and the dollar extended losses after the Federal Reserve indicated it will begin cutting interest rates next year. Oil prices extended a rally that came after data showed US stockpiles fell from the previous week.

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