• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 2 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents, building nukes * Too late now
  • 8 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 8 hours OPEC will consider all options. What options do they have ?
  • 3 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 9 mins What to tell my students
  • 12 hours With Global Warming Greenland is Prime Real Estate
  • 3 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 6 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 6 mins NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 21 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 19 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 4 hours Flaring is at Record Highs in Texas
  • 15 hours Get First Access To The Oilprice App!
Alt Text

Global Renewables Investment To Hit $13.3 Trillion By 2050

Global investments in renewable energy…

Alt Text

Oil Markets Dominated By Bearish Sentiment

With the latest trade war…

Alt Text

The Toughest Challenge For Any Energy Company In 2019

Strong volatility and poor overall…

Simon Watkins

Simon Watkins

Simon Watkins is a former senior FX trader and salesman, financial journalist, and best-selling author. He was Head of Forex Institutional Sales and Trading for…

More Info

Premium Content

Can Trump Rely On The Saudis As Oil Prices Crash?

A month or so ago U.S. President Donald Trump extracted a promise from Saudi Arabia that it would pump more oil to mitigate the risk of oil price spikes resulting from the end to waivers on Iranian oil exports. There was scepticism at the time about the Saudi willingness and/or ability to make good on this promise, but last week oil entered official bear market territory, defined by a drop of 20% or more in prices from the most recent high. According to historical market data, the average bear market for crude oil lasts 60 trading days, so the question now is: with OPEC and non-OPEC oil producers (NOPEC) meetings on the 25th and 26th of June, can Trump still trust the Saudis to do their part in keeping prices on the low side? In fact, as OilPrice.com reveals, Trump cannot lose, whether the Saudis keep their promise or not.

From the U.S. perspective, there are two key reasons defining this ‘no lose’ position: the first being economic, the second geopolitical. The economic reason is that, despite the U.S. economy continuing to perform robustly over the first quarter of this year - better-than-consensus economic growth of 3.2% - many feel that a recession may be around the corner. In this context has been cited the fall in the IHS Markit U.S. Manufacturing Purchasing Managers’ Index (PMI) for May by more than two points to 50.5 (the lowest level since September 2009) and the seasonally-adjusted U.S. Retail Sales figure dropping (by 0.2%) in April from…


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play