• 3 minutes The GREAT OPEC+ Agreement
  • 6 minutes US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 10 minutes Trumps Oil Industry....
  • 13 mintues Why Trump Is Right to Re-Open the Economy
  • 40 mins "Saudi Armada heading to U.S.", "Dumping" is a WTO VIOLATION.
  • 9 hours A small trial finds that hydroxychloroquine is not effective for treating coronavirus
  • 3 hours Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 6 hours Trump will be holding back funds that were going to W.H.O. Good move
  • 20 hours Saudis to cut 4mm bbls. What a joke.
  • 4 hours Did you all forget the "drill baby drill" republican motto and trump calling for ramping up oil production a cpl years ago ?
  • 10 hours Chinese Communist Party
  • 20 hours Saudi Arabia Is Buying Up European Oil Majors
  • 4 hours Bernie Sanders introduces bill to ban fracking
  • 19 hours Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 15 hours Corona Price Tag
  • 7 hours Saudis ship 13 mm bbls oil to U.S. to hurt U.S. shale. On its way. . . . . . . AND TRUMP DOES NOTHING. .

Oil To Trade Sideways In The Short Term

stocks

2019 is young indeed but we’re already starting to see some signs of what will shape oil prices this year. On the downside, it’s clear that macro-economic concerns will continue to keep a lid on prices. On the upside, OPEC+ seems to mean business on their 1.2m bpd production cut offering, the key source of bullish risk in the market. These themes should sound familiar as bearish economic concerns and bullish tight supply concerns governed oil prices in 2018.

Away from oil, markets continue to signal that something is amiss with the 10-year old global economic recovery. Stock markets were hit hard this week after Apple lowered its 2019 revenue guidance based on slowing China sales- the company credited the Trump/Xi trade war in doing so- and S&Ps traded about 16% below their all-time high print just three short months ago. Equity market waves even created a mini ‘flash crash’ in several currency pairs. In China the carnage was even more severe with the Shanghai Composite lower by about 31% in the last twelve months following the release of China’s first contraction-territory PMI reading in 19 months. Even more interestingly, bond markets have begun to price in higher expectations of dovish central banking activity in 2019 allowing the yield curve to steepen slightly while rates have moved drastically lower. Not to be left out, commodities continue to show worsening deflation risks with the Bloomberg Commodity Index falling to its lowest…




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