• 5 minutes Iran Says It Arrested 17 CIA Spies, Some Sentenced To Death
  • 9 minutes Will We Ever See 100$+ OIL?
  • 13 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 18 hours Iran Loses $130,000,000 Oil Revenue Every Day They Continue Their Games . . . .Opportunity Lost . . . Will Never Get It Back. . . . . LOL .
  • 1 min Platts says if Iran's 2 mm bbls exports comes back on market oil goes to $40 . . . What about new Permian pipelines 2.47 mm bbls coming ? . . . WHAT IF BOTH IRAN AND PERMIAN TOTAL 4.47 mm added bbls . . . OMG !
  • 3 hours Today President Trump Questioned U.S. Policing the Straits of Hormuz for Rich Asian Countries. Allies Britain and Japan were asked to participate. Said NO. US spends $100 Billion/year Protecting Mideast Shipping Lanes!
  • 10 hours Renewables provided only about 4% of total global energy needs in 2018
  • 4 mins Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports
  • 7 hours So You Think We’re Reducing Fossil Fuel? — Think Again
  • 2 hours N.Y. Governor Signs Climate Bill
  • 7 hours Oil Giant Saudi Arabia Is Set to Start First Wind-Power Plant
  • 1 day Berkeley becomes first U.S. city to ban natural gas in new homes
  • 20 hours U.S. Administration Moves To End Asylum Protections For Central Americans
  • 1 day How is E&P of Marginal Oil on the UKCS Similar to the Shale Oil Operations in the US?
  • 7 hours EIA Reports Are Fraudulent : EIA Is Conspiring With Trump To Keep Oil Prices Low
  • 1 day Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
Tom Kool

Tom Kool

Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com's Head of Operations

More Info

Premium Content

Has The Oil Rally Reached Its Limit?

Despite various bullish geopolitical and fundamental factors, bearish sentiment appears to have reentered the market after a particularly long rally.

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

(Click to enlarge)

Friday, May 3rd, 2019

The oil price rally ended this week, with rising U.S. inventories and production scaring away the bulls. Crude stocks soared by 10 million barrels and U.S. production rose to 12.3 mb/d in the last week of April. 

Iran warns OPEC is about to collapse. Iran’s oil minister said that OPEC may fall apart. “Iran is a member of OPEC for its interests and any threat from member states won’t go unanswered,” Bijan Namdar Zanganeh said, referring to Saudi Arabia’s apparent coordination with the U.S. on Iran sanctions. “I told [OPEC Secretary-General Mohammad] Barkindo that OPEC is in danger by the unilateralism of some members and the organization faces the risk of collapse.” Last year, Qatar quit OPEC, but it would be a much more significant development of Iran were to exit.

ExxonMobil to invest $2 billion in Baytown chemical plant. ExxonMobil (NYSE: XOM) said that it would move forward on a $2 billion expansion of its Baytown, TX chemical facility. The investment is the latest in the company’s “Growing the Gulf”…


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