The oil market has been somewhat rebalanced by OPEC’s supply cut agreement, which will see participants cut the group’s total production by at least 1.2 million barrels per day. Getty Images photo by Akos Stiller. [Read more] [Read more]
Brent’s six-month calendar spread has strengthened from a contango of almost $1.80 per barrel to just 35 cents over the same period, suggesting OPEC cuts have succeeded in shifting market expectations about the 2019 outlook. [Read more] [Read more]
Oil prices steadied on Wednesday after Tuesday’s gains of 3 per cent, however EIA data shows growing US refined product stockpiles and growing US production, which could undermine efforts to rein in a growing crude [Read more] [Read more]
Oil prices rose by over 2 per cent on Tuesday after China announced it will introduce a $586 billion stimulus package to help stabilize its slowing economy. Apache photo. Oil prices reverse Monday’s losses Oil [Read more] [Read more]
Despite the recent slump in oil prices, forecasts have edged down by less than $5 per barrel compared with the last annual survey conducted at the start of 2018 and have changed little over the [Read more] [Read more]
Oil prices fell about 1 per cent on Monday after data from China showed exports fell by the highest amount in two years last month and imports also fell. AP photo. Oil prices fall about [Read more] [Read more]
Fund managers’ cautious positioning in oil suggests they see roughly three equal crude outlook probabilities: Resumption of strong growth; an extended soft patch; or a slump into recession. Linn Energy photo. Cautious crude outlook on [Read more] [Read more]
Oil prices fell by about 2 per cent on Friday due to ongoing concerns about a global economic slowdown, but prices are set to end the week higher on US-China trade hopes. Repsol photo. Oil [Read more] [Read more]
Iraq oil production averaged 4.5 million b/d through Aug. 2018, up from 4.4 million b/d in 2017. Iraq’s oil production has nearly doubled in the past decade. Reuters photo. Iraq oil production, consumption on the [Read more] [Read more]
The exceptional rally in natural gas prices during the late summer and early autumn has unwound, leaving gas prices back at the low level that has prevailed for the last three years. Natural gas prices [Read more] [Read more]
Oil prices climbed over 2 per cent on Thursday as investors grew more confident the US and China will resolve the months-long trade dispute that has hampered the global economy. Baytex photo. Oil prices up [Read more] [Read more]
Concerns about slowing global economic growth are outweighing OPEC+ supply cuts, prompting hedge funds to cut bullish positions in Brent crude futures during the final week in December. Anadarko photo. Hedge funds cut positions in [Read more] [Read more]
Oil prices rose on Friday as trade talks continued between the US and China, easing some investors concerns about a global economic slowdown. However, gains were capped on data showing a rise in US refined [Read more] [Read more]
There are signs that the dollar’s rise may be coming to an end as trade tensions with China weigh and pressure to raise rates dissipates, lifting prospects for oil prices to recover. BP photo. Oil [Read more] [Read more]
Given the unpredictable environment and the prospect of rising interest rates, major equity markets and commodity prices fell sharply towards the end of the year. Anadarko photo. Commodity prices fell sharply before the end of [Read more] [Read more]
Oil prices fell over 3 per cent on Thursday as investors grew more concerned about rising global crude inventories and faltering economic growth. Anadarko photo. Oil prices down over 2 per cent Oil prices fell [Read more] [Read more]
Oil prices recovered slightly after Tuesday’s sell-off on data from the US Energy Information Administration showing demand for distillates rose to the highest levels since January 2003. Nexen photo. US oil prices up over 2 [Read more] [Read more]
US oil prices were down almost 8 per cent on Tuesday on rising global crude inventories and concerns over deteriorating economic growth worldwide. Apache photo. Oil prices weakest since September 2017 Oil prices took a [Read more] [Read more]
Oil prices fell over two per cent on Friday as the US stock market took another hit and economic data released from China indicated lower fuel demand from the world’s largest importer of crude. Chevron [Read more] [Read more]
OPEC and some non-OPEC oil ministers met in Vienna last week and agreed to curb their output by 1.2 million b/d in order to address growing surpluses and dropping oil prices in the market. OPEC [Read more] [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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