• 6 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 11 mins WTI @ $75.75, headed for $64 - 67
  • 2 hours Trump vs. MbS
  • 3 hours Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 7 hours The Dirt on Clean Electric Cars
  • 13 hours Uber IPO Proposals Value Company at $120 Billion
  • 4 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 3 hours EU to Splash Billions on Battery Factories
  • 17 hours COLORADO FOCUS: Stocks to Watch Prior to Midterms
  • 14 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 8 hours Coal remains a major source of power in Europe.
  • 4 hours Poland signs 20-year deal on U.S. LNG supplies
  • 20 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 16 hours Nopec Sherman act legislation
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory – Friday, 26, 2018

Shale

Brent crude touched $71 and WTI hit $66 this week, supported by the latest comments from the energy ministers of Saudi Arabia and Russia, who said after a meeting last weekend that OPEC and Russia planned to leave the framework of their production cut agreement in place after the deal ends. This means there will be a market intervention mechanism ready should the need arise.

Some took these comments to mean the deal could be extended beyond the end of 2018, although both Novak and Al Falih denied this possibility. In any case, the presence of a ready framework for oil market intervention suggests there is now a bigger oil cartel in the market and it is ready to intervene at will to control prices.

The price rally may look sustainable, especially after the EIA reported its tenth weekly inventory draw, but some of the biggest fuel consumers apparently beg to differ. Four major airlines including Delta, American, and United, and Dubai’s Emirates, said this week they had no plans to start hedging fuel deliveries, signaling they are far from worried about oil prices.

Meanwhile, the IMF has warned that despite the latest indications from the global economy that suggest healthy growth this year, a recession may be nearer than many believe. Some sources from the analyst community are in agreement, noting the strongest start of the year for the U.S. stock market and investors’ excessive risk appetite.

Deals, Mergers & Acquisitions

•…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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