0937 GMT - Compensation cuts from OPEC+ members exceeding oil output quotas aren't expected to outweigh the group's planned production increase, according to BNP Paribas. While full compliance with the cuts could theoretically more than offset the returning flows starting in April, analysts at the bank remain cautious about adherence. "We note Kazakhstan's ramp-up in production from the Tengiz field and Iraq's stated intention to resume flows from Kurdistan through the Ceyhan pipeline." Meanwhile, OPEC+ could also decide to boost output further if compliance rates exceed expectations, they say. U.S. pressure on Iran and Venezuela is instead expected to limit the impact of OPEC+'s output increase, with Iranian exports expected to fall by 600,000 barrels a day and Venezuelan exports by 72,000 barrels a day in 2025. BNP forecasts Brent crude at an average of $73 a barrel this year. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 05:37 ET (09:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。