• 3 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 minutes This Battery Uses Up CO2 to Create Energy
  • 10 minutes Phase One trade deal, for China it is all about technology war
  • 12 minutes Trump has changed into a World Leader
  • 9 hours Shale Oil Fiasco
  • 2 hours Might be Time for NG Producers to Find New Career
  • 2 hours Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 10 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 1 day Prototype Haliade X 12MW turbine starts operating in Rotterdam
  • 1 day Wind Turbine Blades Not Recyclable
  • 2 days China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 1 day Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
  • 1 hour Indonesia Stands Up to China. Will Japan Help?
  • 1 day Denmark gets 47% of its electricity from wind in 2019
  • 9 hours US Shale: Technology
Alt Text

The Single Biggest Factor In Oil This Week

China has been the key…

Alt Text

The Oil Industry’s Radioactive Secret

An investigative journalist has written…

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. .vemba-player-sticky{ min-width: 800px; z-index: 100000; }

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…




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