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Oil Ticks Higher on Inventory Draw

Oil Ticks Higher on Inventory Draw

Crude oil prices moved higher…

Energy / Crude Oil

UBS: Oil Demand To Return To Pre-Covid Levels By Q1 2022

Jul 09, 2021 at 08:51 | Irina Slav

Crude oil demand will rebound to pre-pandemic levels by the first quarter of 2022, according to Wayne Gordon, executive director of commodities and forex at UBS Global Wealth Management. Speaking…

U.S. Shale On Track For One Of Its Best Years Ever

Jul 08, 2021 at 12:11 | Alex Kimani

After seven consecutive weeks of gains, oil prices have gone into reverse gear once again, thanks mainly to the latest OPEC+ spat that left everyone wondering what to…

Oil Prices Rise As EIA Data Beats Expectations

Jul 08, 2021 at 10:08 | Irina Slav

Crude oil prices rose higher today after the Energy Information Administration reported an inventory draw of 6.9 million barrels for the week to July 2. This compared with a…

The Oil Stocks Wall Street Recommends

Jul 07, 2021 at 11:54 | Tsvetana Paraskova

As oil prices have rallied more than 40 percent this year, analysts and institutional investors have grown increasingly bullish on oil stocks, which, many believe, are still undervalued…

Is There Still Hope For Argentina’s Struggling Shale Patch?

Jul 06, 2021 at 10:33 | Felicity Bradstock

Argentina is working to boost its oil production as well as investing in shale as the Latin American oil and gas giant continues to focus on traditional energy.  …

Oil Markets Will Tighten Regardless Of OPEC's Decision

Jul 05, 2021 at 15:24 | Tsvetana Paraskova

The oil market is tightening and will continue to draw down inventories for the rest of the year. This drawdown is largely due to OPEC+ offering less supply…

Delayed Deal Between Saudi Arabia And India May Still Happen Against All Odds

Jul 05, 2021 at 15:21 | Simon Watkins

A long-delayed deal between Saudi Arabia’s flagship oil company, Saudi Aramco, and Indian conglomerate, Reliance Industries, looks closer to going ahead following the recent appointment of Aramco chairman,…

Could Iran Raise Its Oil Production To 6 Million Bpd?

Jul 05, 2021 at 15:17 | Alex Kimani

The unsuccessful attempts by OPEC+ to reach a deal on output cuts increase the risk of creating a supply squeeze in an already tight market,…

Analyst Says Market Too Optimistic About Demand

Jul 05, 2021 at 14:51 | Tsvetana Paraskova

Oil market participants may have focused too much on the surging U.S. fuel demand with states re-opening, possibly ignoring the still lurking COVID threats to demand elsewhere, energy analyst Vandana…

Could Guyana Replace Venezuela As A Regional Oil Giant?

Jul 02, 2021 at 14:12 | Felicity Bradstock

Guyana is continuing to build its reputation as the new oil hub of the Americas, with more oil firms seeking a stake in the country’s oil fields where…

Record Decline In U.S. Crude Stockpiles Fuels Oil Rally

Jul 02, 2021 at 14:09 | Tsvetana Paraskova

Surging U.S. fuel demand amid stagnant domestic crude oil production is drawing down American crude inventories at the quickest pace in nearly 40 years.  The record-fast…

OPEC: From “Increasingly Irrelevant” To Ultimate Market Mover

Jul 02, 2021 at 13:51 | Irina Slav

The oil world is waiting with bated breath to learn what, exactly, OPEC and its partners in production curbs will decide at their meeting in Vienna this week.…

U.S. Crude Oil Inventories Are Drawing Very Fast

Jul 02, 2021 at 10:03 | Tsvetana Paraskova

The U.S. oil market is tightening as commercial crude inventories are declining at a fast clip and driving wider time spreads in the WTI Crude futures curve. The

India’s Oil Demand Expected To Return To Normal By End Of Year

Jul 01, 2021 at 10:48 | Felicity Bradstock

India’s oil demand is expected to get back to normal by the end of the year, following months of uncertainty in the face of a third wave of…

This Norwegian Flagship Crude Could Save The Brent Benchmark

Jun 30, 2021 at 11:20 | Gerald Jansen

Deliberations on which benchmark presents the best opportunities to trade just never seem to stop. The gradual decline of all erstwhile champions of North Sea output champions has…

Oil Prices Spike On Large Crude Inventory Draw

Jun 30, 2021 at 09:45 | Irina Slav

Crude oil prices jumped higher today after the Energy Information Administration reported an inventory decline of 6.7 million barrels for the week to June 25. This compares with a…

OPEC+ Fears Significant Oil Glut After April 2022

Jun 30, 2021 at 08:23 | Tsvetana Paraskova

The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an…

Recon Africa: The Truth About The World's Most Exciting Oil Play

Jun 29, 2021 at 17:26 | James Stafford

A daring junior oil and gas explorer has set out to put the African country of Namibia—which has never produced a single barrel of oil - on the world’s energy…

Brazil's Oil Boom Continues Unabated

Jun 28, 2021 at 13:10 | Matthew Smith

Latin America’s largest oil producer Brazil is one of the worst affected countries globally by the COVID-19 pandemic. According to the World Health Organization, Brazil is the

U.S. Shale Producers Stick To Output Discipline

Jun 28, 2021 at 08:49 | Irina Slav

Despite a strong rebound in oil prices, seeing them hit three-year highs, U.S. shale oil producers are sticking to their output discipline, Reuters reports, citing rig count data and…

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