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 […]
Monday will be a significant news day. – BRICS new monetary fund, the EU price cap on oil and the OPEC meeting. All of them are high energy price impact movers by themselves. But all […]
The world’s biggest petroleum exporter, a country built with oil money, and a founding member of the most powerful oil cartel on Earth, is now styling itself as a pioneer of climate change solutions. At […]
OPEC issued its 2022 World Oil Outlook report this week. In it the cartel predicted global oil demand is going to continue to rise in the medium and long term, despite the West attempting to […]
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