The post OPEC production declined in November despite increase in production quotas – Commerzbank appeared on BitcoinEthereumNews.com. Reuters and Bloomberg have meanwhile published their surveys on OPEC production in November. In both surveys, production by members bound by quotas declined, even though production could have increased by 85,000 barrels per day according to the agreement, Commerzbank’s commodity analyst Carsten Fritsch notes. Saudi Arabia holds production despite higher quota “Some countries are unable to expand their production as they are already producing at maximum capacity, while others, such as Iraq, had to compensate for previous overproduction with compensatory cuts. It was also noteworthy that Saudi Arabia did not further increase production in November despite a higher production quota. The fact that Saudi Arabia has not fully utilized its production quota could indicate lower demand.” “This has already prompted Saudi Arabia to further reduce its official selling prices. According to the Reuters survey, production in countries subject to quotas was a good 400,000 barrels per day below the agreed level. The Bloomberg survey, on the other hand, shows that the agreed production volume was exceeded by a good 260,000 barrels per day.” “The biggest discrepancies between the two surveys are in Iraq and the United Arab Emirates, whose production is significantly higher according to Bloomberg than according to Reuters.” Source: https://www.fxstreet.com/news/opec-production-declined-in-november-despite-increase-in-production-quotas-commerzbank-202512091438The post OPEC production declined in November despite increase in production quotas – Commerzbank appeared on BitcoinEthereumNews.com. Reuters and Bloomberg have meanwhile published their surveys on OPEC production in November. In both surveys, production by members bound by quotas declined, even though production could have increased by 85,000 barrels per day according to the agreement, Commerzbank’s commodity analyst Carsten Fritsch notes. Saudi Arabia holds production despite higher quota “Some countries are unable to expand their production as they are already producing at maximum capacity, while others, such as Iraq, had to compensate for previous overproduction with compensatory cuts. It was also noteworthy that Saudi Arabia did not further increase production in November despite a higher production quota. The fact that Saudi Arabia has not fully utilized its production quota could indicate lower demand.” “This has already prompted Saudi Arabia to further reduce its official selling prices. According to the Reuters survey, production in countries subject to quotas was a good 400,000 barrels per day below the agreed level. The Bloomberg survey, on the other hand, shows that the agreed production volume was exceeded by a good 260,000 barrels per day.” “The biggest discrepancies between the two surveys are in Iraq and the United Arab Emirates, whose production is significantly higher according to Bloomberg than according to Reuters.” Source: https://www.fxstreet.com/news/opec-production-declined-in-november-despite-increase-in-production-quotas-commerzbank-202512091438

                                                                               Strive, co-founded in 2022 by American entrepreneur Vivek Ramaswamy, launched a $500 million preferred stock offering to acquire more Bitcoin and Bitcoin-related products.                     Publicly traded asset manager and Bitcoin treasury company Strive has announced a $500 million stock sales program to raise funds for additional BTC purchases.The firm, which was co-founded in 2022 by American entrepreneur and politician Vivek Ramaswamy, stated on Tuesday that it intends to use the net proceeds from the sale for “general corporate purposes, including, among other things, the acquisition of Bitcoin and Bitcoin-related products and for working capital.”It also intends to purchase “income-generating assets” to grow the company’s business, but did not specify which. Read more