Oil Prices: Goldman Warns Saudi Arabia Faces $67 Billion Deficit

Oil Prices: Goldman Warns Saudi Arabia Faces $67 Billion Deficit The oil-price crash is set to have far-reaching consequences for Saudi Arabia’s finances and vast economic ambitions. The kingdom’s budget deficit may soar to $67 billion this year, according to projections shared by Goldman Sachs. Bloomberg's Paul Wallace reports. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/

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Oil Prices at Four-Year Low on Trade War, Surprise OPEC+ Move

Oil Prices at Four-Year Low on Trade War, Surprise OPEC+ Move Oil sank to a four-year low as an intensifying global trade war threatens to batter energy demand, with a fresh wave of US levies going into effect in a move that will deal a heavy blow to the global economy. The losses have been compounded by a decision by OPEC+ to loosen output curbs at a faster clip than previously expected. Ziad Daoud of Bloomberg Economics has the latest. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg

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The global oil market is a quantum superposition of supply and demand, where OPEC's forecasts exist in a parallel reality to actual consumption data. Their 27% projection cut since July reveals the matrix glitch. #OilMarkets #OPEC
https://www.ndtvprofit.com/global-economics/opec-makes-deepest-cut-yet-to-2024-world-oil-demand-forecast
OPEC Makes Deepest Cut Yet To 2024 World Oil Demand Forecast

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs.

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OilPrice.com: Oil Markets Remain Lackluster Despite Positive OPEC Meeting…

Oil prices fell on a day after OPEC+ delayed its planned output increase by three months to April 2025, and extended the full unwind of production cuts by a year until the end of 2026... oilprice.com #OPEC #oilprices #energy #oilmarkets

https://formuchdeliberation.wordpress.com/2024/12/09/oilprice-com-oil-markets-remain-lackluster-despite-positive-opec-meeting/

OilPrice.com: Oil Markets Remain Lackluster Despite Positive OPEC Meeting…

Oil prices fell on a day after OPEC+ delayed its planned output increase by three months to April 2025, and extended the full unwind of production cuts by a year until the end of 2026… oilpri…

for much deliberation

Oil prices are up for the week despite a slight drop today, driven by fears of Israeli retaliation against Iran and potential supply disruptions from Hurricane Milton. Brent at $79.08/bbl, WTI at $75.47/bbl. Libya’s oil output recovery and U.S. Fed policy uncertainty also play a role.

#OilMarkets #MiddleEast #WTICrude #BrentCrude #HurricaneMilton #Fed #MiddleEast #War

#Oil prices dipped on China demand concerns and trade tensions, set for weekly loss. Reduced U.S. inventories and Fed rate cut hopes provided some support. #OilPrices #ChinaDemand #TradeWar #OilMarkets
Meme stocks #AMC and #GameStop tumble after recent volatility. AMC announces debt-for-equity swap, while GameStop gives back gains. #Oil prices dip as #IEA slashes 2024 demand growth forecast. The discrepancy between #API and #EIA data highlighted uncertainty in #OilMarkets.

In response to Iran's missile and UAV attack, Jordan opens its airspace for Israeli defense, showcasing a rare Middle Eastern alliance.

The attack, mostly thwarted, raises questions about Iran's military strength and future regional cooperation. Oil markets react mildly.

#JordanIsrael #MiddleEastTensions #IranAttack #OilMarkets #RegionalAlliance

One of the key highlights of the new day is the Israeli airstrike in Lebanon. In response to the situation, an Israeli government statement indicated that "attacks on Rafah will be intensified if the hostage situation remains unresolved." Additionally, Ukraine confirmed reports of shooting down two Russian missiles. These developments are contributing to the ongoing surge in oil markets, which continue to trend towards peak levels. #Israel #Lebanon #Ukraine #Russia #oilmarkets
Additionally, market participants remained attentive to geopolitical developments, with some optimism stemming from diplomatic efforts between Hamas and Israel in the Middle East. #OilMarkets #EIA #CrudeOilStocks #US #EnergySector #OilPrices #GeopoliticalDevelopments #Hamas #Israel #MiddleEast