• 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 ?
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days Once seen as fleeting, a new solar tech proves its lasting power
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 16 hours Bloomberg - "Hedge Funds Hit by ‘Onerous’ ESG Rule Turn to Lawyers for Help"
Editorial Dept

Editorial Dept

More Info

Global Energy Advisory – Friday, 26, 2018

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

•…




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