Oil rallied as Saudi Arabia signaled confidence in the demand outlook with a surprise boost in crude prices, while investors awaited comments on monetary policy from Federal Reserve Chair Jerome Powell. West Texas Intermediate futures […]
Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global oil demand would more than double. While […]
Saudi Arabia’s energy minister reiterated that the kingdom will remain cautious about raising oil production, even as several prominent analysts say rising demand will soon trigger a jump in prices.“I will believe it when I […]
Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, will meet virtually on February 1. The meeting comes as the price of oil has rallied towards $90 a barrel. […]
By Grant Smith and Mark Cudmore, Bloomberg markets live reports and strategists Oil prices may have surrendered the bulk of this year’s gains, but the conditions are right to lure back bulls in the new […]
The recent crude price slump may not be indicative for what is to come in oil markets according to several investment bank analysts. OPEC has not consistently produced more than 30 million bpd since 2015-2018. […]
Authored by Julianne Geiger via OilPrice.com, OPEC’s crude oil production fell by an average of 744,000 barrels per day, according to OPEC’s Monthly Oil Market Report released on Tuesday. Saudi Arabia’s November production fell […]
Authored by Tsvetana Paraskova via OilPrice.com, Sanctions on key oil exporters have given rise to a lucrative black market for crude. The EU embargo on Russian crude oil imports and the price cap on Russian […]
Supertanker rates reached record levels earlier this year. Very Large Crude Carrier rates have plunged to just $38,000 per day, falling some 62% from a few weeks ago. OPEC+ cuts and waning SPR releases are […]
The Bank of America has predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and successful economic reopening by China. BofA’s chief […]
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