Despite a surprisingly large crude draw, oil prices are lower this morning as a pipeline carrying Russian oil to Europe was reported to have restarted after being offline during a turbulent 24 hours. Prices dropped […]
Lower demand forecasts could materialize if China doesn’t fully reopen. The European Union is preparing to implement an oil import embargo on Russian crude oil next month and on fuels two months later. Bets on […]
US energy dominance has altered a fundamental economic relationship. Today, rising oil prices are associated with a strengthening US dollar, whereas rising oil prices once caused the dollar’s exchange rate to decline. Rising US oil, […]
The US slashed its forecast for 2023 oil production in the latest sign that world crude markets can’t rely on American shale fields to ramp up supply quickly enough to reduce high energy prices over […]
For a third day oil fell, off weakened Chinese demand outlook as well as rising US inventories, which were revealed in a new industry report. After falling 4% over the first two days of the […]
Forecast overview The November 2022 Short-Term Energy Outlook (STEO) marks the release of our new text format. We have reconfigured the text to provide readers with discussions and visualizations we think best convey our energy forecast and its […]
HOUSTON, Oct 31 (Reuters) – U.S. oil output climbed to nearly 12 million barrels per day (bpd) in August, government figures showed on Monday, the highest since the onset of the COVID-19 pandemic, even as […]
Oil prices fell by more than $1 on Monday after weaker than expected factory activity data out of China and on concerns that the country’s widening COVID-19 curbs will curtail demand. Brent crude futures dropped […]
Oil prices are rallying this morning as the dollar continued to weaken (to 3-week lows), shrugging off any worries about the surprise crude build API reported last night. “Crude oil remains rangebound,” said Ole Hansen, […]
Oil prices rebounded today from earlier losses as fears over tight supplies once again became top of mind for many as ‘peak hawkishness’ overtook ‘China demand fears’. Oil was also helped by a weaker dollar… […]
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