Oil consumption could surge more than previously expected and reach record levels this year, a global energy watchdog said, as restrictions to combat the coronavirus ease faster than anticipated, global economic growth mounts and pent-up […]
The two-year Covid crisis put many markets on a wild ride—just look at U.S. Treasuries—but few have had a crazier time than crude oil: from total collapse in 2020 to the brink of $100 a barrel […]
Toril Bosoni, head of the International Energy Agency’s markets and industry division, says oil prices could climb further because of the OPEC+ coalition’s “chronic” struggle to revive production. “It’s not in the interest of consumers, but […]
OPEC and its allies are expected to approve another modest oil-output increase this week, yet once again struggle to deliver all of the extra supplies into a red-hot crude market. The recovery in fuel consumption from the […]
Where did all the oil go? According to the latest estimates, the world should still be awash in oil stockpiles built up during the pandemic. But that’s not what the actual data on oil supplies […]
OPEC sees oil market supported by demand in a monthly report Goldman Sachs sees $100-a-barrel crude by the third quarter Oil surged to the highest level in seven years as robust demand and strained supplies […]
Brent trades above $85, set for a fourth weekly increase Physical crude markets and diesel are all flashing strength Oil headed for a fourth straight weekly gain, the longest streak since October, on signs that […]
Oil rose for a third straight week as demand remained resilient, while supplies are frayed across the OPEC+ coalition and beyond. West Texas Intermediate crude in New York climbed 5% this week, despite closing down 0.7% […]
Oil at $100 a barrel was considered inevitable not too long ago, as Wall Street strategists predicted a commodities supercycle. And it still remains in play, even with the omicron variant raging and Covid cases […]
As I have talked about for several months, OPEC and OPEC + have again reached the global power that they originally desired. The United States shale revolution held that in check and reduced their influence […]
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