In case of further escalation,…
The crude oil net long…
There’s no end in sight to slumping oil prices - good news for consumers but a dire development for major oil producers like Saudi Arabia and Russia. And now, rising…
I don’t know about the rest of you guys, but is anyone else feeling a bit hinky about the price of oil? Every time we seem to have the table…
Oil prices reversed earlier gains and drifted lower in early morning trade on Tuesday, after OPEC said that its crude oil production in May rose—despite the output cut deal—on the…
With U.S. investment managers and hedge funds reporting their quarterly equity positions ahead of the SEC deadline last month, some of the world’s largest asset managers are still taking bullish…
Last December, Credit Suisse Group AG (CS), closed two very popular ways of betting on oil to the public. Both were exchange-traded notes (ETNs) pegged to oil prices, and both…
In my early days of trading, I had a ‘mentor’ of sorts who gave me all sorts of advice and useful tips about market action. One I remember clearly was…
Around three years ago, in June of 2014, oil began a spectacular collapse. After rising to the point where WTI was fetching over $100 a barrel and holding that psychologically…
More draws predicted for late 2017, 2018 The oil market rebalancing is in progress, even if it is slower than expected, according to releases by Societe Generale and RBC Capital…
The EIA recently updated its International Petroleum statistics. World Crude plus Condensate (C+C) output was 80,577 kb/d in Feb 2017 an increase of…
OPEC and the non-OPEC producers that are part of the production cut deal may consider deepening the output cuts at the cartel’s next meeting in Vienna in November, Saudi Arabia’s…
The OPEC/non-OPEC deal is working, and the current underlying key assumption of Russia’s economic policies—oil prices at US$40—can allow it to live forever at that price or below, Russia’s Economy…
It wasn’t that long ago, 19 years to be precise, when the average oil price was $11.91 per barrel (WTI). Are world conditions such that we could see that price…
Last week’s OPEC meeting was characterized by a certain banality. The news that OPEC and non-OPEC members would agree to another nine months of production cuts elicited a collective…
OPEC and non-OPEC producers part of the production cut deal are committed to drawing the global crude oil inventories down to their five-year average, Saudi Energy Minister Khalid al-Falih
After the nine-month extension of the OPEC deal, there is a growing consensus that oil might bounce around in the $50s and $60s for the rest of the year. But…
Usually when CFTC data shows a big speculative position, it is easy to spot the corresponding mood amongst traders. For example, take the current situation with the Canadian dollar. There…
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman is meeting Russian President Vladimir Putin today to discuss the extension of OPEC’s agreement with 11 other oil producers to extend the…
OPEC’s new strategy to balance the oil market is to cut oil exports to the U.S., a move intended to drain near-record-high crude oil inventories. OPEC originally thought that six…
Well, if it’s the end of May, it must be time for another OPEC meeting. And sure enough it was. Yet again, the representatives of the OPEC nations got together…
Russia’s Novak suggests Russia has more room for deeper cuts Crude oil prices fell more than 5 percent Thursday after OPEC extended a production cut deal which had originally help…