For the second consecutive month, OPEC slightly cut its forecast for 2024 global crude oil demand in its September Oil Market Report published Tuesday. The cartel had held firm to its initial 2024 forecast, first published in […]
Trafigura expects Brent oil prices to fall into the $60 per barrel range in the near future, although warns traders to be cautious. Weak Chinese oil demand and rising non-OPEC supply are contributing to the […]
The Libya supply outage is propping up several light crude oil grades. U.S. WTI Midland crude could replace lost volumes of Libyan crude in the short term: Reuters. U.S. crude is set to compete with […]
Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for oil projects are also the lowest in the world, at around just $10 […]
Oil prices tumbled on Tuesday morning as speculation continued that the eight leading OPEC+ producers would unwind their voluntary production cuts. – Crude production in Iraq’s semi-autonomous Kurdistan region continues to increase as industry organizations […]
Weekly Daily Standup Top Stories Is China’s Demand for Oil Nearing Its Peak? August 25, 2024 Stu Turley China’s oil imports in July were down 12% from June and 3% from July 2023, raising concerns about […]
Uncertainty continues to dominate oil markets, although demand concerns appear to be overcoming supply shocks to push oil prices toward a monthly loss. Friday, August 30th, 2024 It’s been a volatile week for oil markets, […]
Weaker Chinese demand, high inventories, and rising US shale production are leading to downward revisions in oil price forecasts. Goldman Sachs predicts Brent crude prices to average below $80 per barrel next year, with the […]
Daily Standup Top Stories State Rankings: Electric Vehicles per Capita in the United States August 25, 2024 Stu Turley California leads the nation in electric vehicle adoption, with over 1.1 million EVs and the highest per […]
Oil prices are rising rapidly on Monday morning as global supply is threatened by geopolitical uncertainty. Israel and Hezbollah traded strikes on Sunday in the biggest military exchange between the two since 2006. Meanwhile, Russia […]
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