• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 16 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 3 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 16 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 5 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 6 days Demonising fossil fuels has caused major grid problem in Australia
  • 6 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 8 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"

Breaking News:

Oil Likely To Hit $200: SEB Group

Editorial Dept

Editorial Dept

More Info

A Very Fragile Balance In Oil Markets

Against the background of the United States softening its rhetoric vis-à-vis Huawei and Saudi Arabia taking matters into its own hands in cutting export rates significantly below the 7mbpd export threshold, crude prices have steadied a bit on Monday-Tuesday this week. The push factors still remain on the table – OPEC has once again cut its demand growth estimate for 2019 to 1.1kbpd and trade wars continue to unnerve market observers – to counter this, nations whose economy is heavily crude-dependent take special care not to let the crude prices drop too much (Saudi Arabia leading the pack). Germany and China have simultaneously announced market stimuli which might shake up their domestic economy a bit, building market confidence, further buttressed by crude inventory drawdowns over the week in the United States.

Yet the balance is still a very fragile one as there is still no tangible guarantee that the China-US confrontation won’t bring down global growth prospects for the upcoming months and years. By Wednesday afternoon, global crude benchmark Brent traded at $60.4-60.9 per barrel, whilst WTI was assessed at $56.4-56.6 per barrel.

1. Alberta Extends Production Cuts To End of 2020

- The Alberta government has extended its crude production curtailment policy to the end of 2020 with the proviso that it can cancel it altogether if the pipeline squeeze situation ends.

- Initially, the previous Alberta government…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News