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OPEC to increase oil supply by 2.2 million barrels per day by November

OPEC+ plans to increase oil production by 2.2 million barrels per day by November amid compliance issues with members like Iraq and Kazakhstan. This follows a series of production cuts totaling 5 million bpd since 2022, with recent hikes aimed at addressing non-compliance and market pressures. Analysts warn that unless compliance improves, the anticipated supply increases could further depress crude prices.

OPEC to accelerate oil output hikes amid compliance issues and market pressures

OPEC+ plans to accelerate oil output hikes, potentially adding 2.2 million barrels per day by November, as Saudi Arabia seeks to penalize members like Iraq and Kazakhstan for exceeding production quotas. This shift follows a significant output increase agreed upon in April, aimed at expanding market share after years of balancing through cuts. If compliance does not improve, further cuts may be unwound by November, impacting oil prices amid ongoing inflation concerns.

gold prices soar as market uncertainty drives safe haven demand

Gold prices have surged, with UBS raising its forecast to $3,200 per ounce amid ongoing trade tensions and market uncertainty. While gold has gained over 14% year-to-date, platinum has struggled, down 3.39%, as ETFs offload the metal. Analysts remain bullish on gold, citing strong demand and central bank purchases, despite potential risks from India's gold bond program and fluctuating investor sentiment in China.

ubs raises gold price forecast to 3200 amid trade war concerns

UBS Group AG has raised its gold price forecast to $3,200 an ounce, driven by escalating trade tensions and recession fears. This marks an increase from the previous estimate of $3,000, as analysts highlight gold's role as a safe haven asset amid ongoing global uncertainties.

ubs raises gold price target to 3200 dollars amid trade war concerns

UBS has raised its gold price target to $3,200 per ounce, citing a protracted global trade war and increasing safe-haven demand as key factors. The bank's analysts noted that the recent surge in gold prices, surpassing $3,000, is supported by strong ETF inflows and robust central bank purchases, which could reach around 1,000 metric tons annually. This shift in market dynamics reflects a growing reliance on gold as a store of value amid economic uncertainties.

ubs raises gold price target to 3200 amid trade war concerns

UBS has raised its gold price target to US$3,200 an ounce, citing heightened trade risks and a deteriorating US economic outlook as key factors driving demand for the precious metal. Analysts predict ongoing haven demand amid escalating trade conflicts and potential interest-rate cuts by the Federal Reserve. Other banks, including Macquarie and BNP Paribas, have also increased their forecasts, highlighting strong inflows into bullion-backed ETFs and robust central bank purchases as crucial support for prices.

ubs raises gold price outlook amid escalating trade war tensions

UBS has raised its gold price forecast to $3,200 an ounce, citing increased haven demand due to escalating global trade tensions and a deteriorating US economic outlook. The bank emphasizes the importance of gold as a store of value, with central bank purchases expected to remain strong, supporting prices. Other banks, including Macquarie and BNP Paribas, have also increased their gold price targets recently.

ubs raises gold price target to 3200 amid trade war concerns

UBS has raised its gold price target to $3,200 an ounce, citing heightened trade war risks and a deteriorating US economic outlook. Analysts predict ongoing demand for gold as a safe haven, with central bank purchases expected to remain strong, supporting prices. Other banks, including Macquarie and BNP Paribas, have also increased their forecasts for the precious metal.

natural gas prices face near-term pressure despite rising export forecasts

Cold weather in the US has driven natural gas prices to their highest levels since late 2022, but milder forecasts for February pose a risk of price declines. Despite this, US LNG exports are reaching record highs, supported by new terminal operations, while inventories are expected to end the withdrawal season lower than previously anticipated. The outlook remains cautious, with a preference to wait for a price setback before making recommendations.

platinum market forecast for 2025 highlights supply deficit and demand growth

UBS forecasts a positive outlook for platinum in 2025, driven by industrial activity and a projected supply deficit of 500,000 ounces. While demand for autocatalysts is expected to rise, stable jewelry demand and a slight decrease in industrial demand are anticipated. The bank notes that lower interest rates and a weaker US dollar could support prices, although tariffs may pose risks.
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