• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 11 hours Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 3 hours https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 13 hours Pollster Frank Luntz released a poll today showing 90% of those that voted for Trump in November would vote for him again.
  • 12 hours Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It's over.
  • 13 hours ICE Engines Hear to Stay Regardless of War Against
  • 19 hours Tonight Twitter took down Trump's personal account permanently. Trump responded on the POTUS account.
  • 17 hours CNN's Jake Tapper questions double amputee purple heart recipient GOP Rep's commitment to democracy. Tapper is a disgrace.
  • 9 hours A Message from President Donald J. Trump - 5 minutes from The White House directly
  • 13 hours Minerals, Mining and Industrial Ecology
  • 16 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 12 hours a In 2020, we produced and delivered half a million cars.
  • 12 hours Trump Supporters Just Handed a Huge Propaganda Victory to China
  • 1 day Evidence is evidence, voter fraud by state
Editorial Dept

Editorial Dept

More Info

Premium Content

Can Anything Stop The Current Bull Run In Oil?

U.S. West Texas Intermediate crude oil futures continued to move higher on Friday with last February’s high at $53.60 well within reach. Investors continue to look beyond rising coronavirus cases, instead choosing to focus on the prospect of lower supply after Saudi Arabia pledged to cut output in February and March. Also underpinning the crude oil market is this week’s reported drawdown in U.S. crude stockpiles although one could argue that a spike in gasoline supply may have been offsetting news.

“The surprise Saudi cut is keeping bulls at the helm of the energy complex,” said Stephen Brennock of oil broker PVM. “It will take a brave man to bet against the current bullish run of play.”

Oil Prices Underpinned After Saudi Arabia Announces Voluntary Production Cut

Oil prices continue to rise in response to Saudi Arabia’s decision to make a big voluntary production cut.

Saudi Arabia, the world’s biggest oil exporter, said earlier in the week it would make additional, voluntary oil output cuts of 1 million barrels per day (bpd) in February and March, after a meeting of OPEC+, which groups the Organization of the Petroleum Exporting Countries and other producers, including Russia.

OPEC+ agreed most producers would hold output steady in February and March while allowing Russia and Kazakhstan to raise output by a modest 75,000 bpd in February and a further 75,000 bpd in March.

US Energy Information…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News