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Offshore Crude Backlog Haunts Oil Price Recovery

Offshore Crude Backlog Haunts Oil Price Recovery

A backlog of tankers waiting…

Why Oil Markets Are Not Recovering Much Faster

Why Oil Markets Are Not Recovering Much Faster

Divergent trends are making investing…

Energy / Oil Prices

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How Far Will OPEC Go For $60 Oil?

Apr 17, 2017 at 14:48 | Irina Slav

Back in February sources from OPEC told media that Saudi Arabia is aiming for oil prices of $60 as the optimal price to encourage fresh investments in production while deterring…

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Why Oil Markets Are Not Recovering Much Faster

Apr 14, 2017 at 12:40 | Dan Dicker

For several months, I’ve been trying to reconcile two divergent and counter-intuitive trends in oil, and it’s forced me towards a soberer outlook going forward. It’s not that I don’t…

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Could An OPEC Extension Normalize Inventories?

Apr 14, 2017 at 12:30 | Oil & Gas 360

Inventories 350 MMBO above historical average An extension of the OPEC production cuts should normalize global inventories this year, according to research by KLR Group. Announced on September 28, 2016,…

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Goldman’s $50 Forecast May Prove Bullish

Apr 13, 2017 at 17:15 | Irina Slav

Goldman Sachs is standing by its own base oil price scenario of $50 a barrel, anticipating a stable future for the commodity, with price fluctuations in the range of…

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IEA: Oil Markets Are Balancing At A Rapid Pace

Apr 13, 2017 at 16:54 | Nick Cunningham

The IEA downgraded global oil demand growth for this year, dropping its estimate to 1.3 million barrels per day (mb/d). That is the second annual decline in demand growth and…

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Can We Expect A Big Draw In Crude Inventories Anytime Soon?

Apr 13, 2017 at 15:03 | Irina Slav

With shale producers adding rigs every week, output is rising and so are stockpiles which weighs on prices and curbs their upward potential, ruining OPEC’s efforts to rebalance the market.…

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Iran Ramps Up Oil Output As OPEC Production Falls

Apr 13, 2017 at 14:38 | Ron Patterson

The OPEC Monthly Oil Market Report is out with OPEC’s crude oil production numbers for March 2017. All data is through March 2017 and is in thousand…

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Will Summer Bring $60 Oil?

Apr 12, 2017 at 14:06 | Oil & Gas 360

Refinery utilization hits 90.8 percent, the highest since the first week of the year U.S. refiners are picking up activity as the summer driving months approach, encouraging markets to increase…

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OPEC’s Combined Oil Output Falls Further In March

Apr 12, 2017 at 11:28 | Irina Slav

OPEC members pumped a combined 31.93 million barrels of crude daily last month, down 153,000 bpd from February, the group said in the latest edition of its Monthly…

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Saudis Cut Deeper In March, Continue To ‘Overcomply’ With OPEC Deal

Apr 11, 2017 at 13:27 | Tsvetana Paraskova

Saudi Arabia reduced its crude oil production by 111,000 bpd to 9.9 million bpd in March, again generously overcomplying with the OPEC output cut deal after having raised February output—but…

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