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 […]
Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls […]
LONDON (Bloomberg) –OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains […]
The oil market flashed its biggest bearish signal in months on Tuesday, indicating oversupply could be on the horizon through the first quarter of 2022. Brent crude for February settlement flipped to trade at a […]
The OPEC+ meeting that began on Dec. 1 is still technically “in session” 11 days later. Remarkably, perhaps, it’s still short of being the oil producer group’s longest gathering — it has another week to go to beat the one held […]
Source: Graph by the U.S. Energy Information Administration, based on data from CME Group, as compiled by Bloomberg L.P. Recently, prices of high-sulfur crude oils have been declining relative to low-sulfur crude oils. Rising crude oil […]
OPEC+ is weighing its supply options after the US-led attempt to lower prices by releasing stocks has been complicated by major a sell-off after resurgent COVID-pandemic fears. How it responds will set the tone for oil […]
The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices […]
OPEC and its allies are increasingly inclined to ditch their plan to raise output next week, as a new virus variant triggered oil’s worst crash in over a year. The 23-nation alliance led by Saudi […]
Sen. Joe Manchin (D-W.Va.) is asking President Joe Biden to restart the construction of the Keystone XL pipeline as gas prices continue to skyrocket across the country. Gas prices have risen steadily since Biden took […]
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