• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 27 mins More dumbed down? re Hong Kong Act of Congress
  • 21 hours EU has already lost the Trump vs. EU Trade War
  • 26 mins U.S. Shale Output may Start Dropping Next Year
  • 1 hour Winter Storms Hitting Continental US
  • 2 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 51 mins Aramco IPO magic trick
  • 1 day Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 19 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 5 hours Petroleum Industry Domain Names
  • 2 hours Crazy Stories From Round The World
  • 1 day Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 20 hours PennEast Appealing Wacky 3rd Circuit Decision to Supreme Court
  • 1 day Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 1 day Last I Checked
  • 20 hours China 2019 - Orwell was 35 years out

Breaking News:

UK Oil Sector May Be Hit With More Taxes

Alt Text

Aramco Reveals Its Valuation

Aramco will sell the first…

Alt Text

This European Nation Is Planning A Complete Offshore Oil Ban

Under pressure from environmentalists, Ireland…

Alt Text

Fracking Under Fire In California

California’s Governor is taking on…

Editorial Dept

Editorial Dept

More Info

Premium Content

The Only Hope For Oil Markets

U.S. West Texas Intermediate crude oil futures are edging higher on Friday as traders shrug off worries about an economic slowdown in China and Brexit uncertainty, and shift their focus toward bullish signals from both the Chinese and U.S. refining sectors. The latest U.S. government inventory numbers came in well-above expectations, but traders seem to be unfazed by the news.

Despite erasing earlier losses on the daily chart, the markets are still on track to finish the week about 1% lower.

China Releases Third-Quarter GDP Figures

China released third-quarter GDP figures on Friday showing the economy grew 6.0% from a year ago. This was weaker than analyst expectations for a 6.1% gain. Beijing’s protracted trade dispute with the U.S. has weighed on its economy, with growth slowing to 6.2% in the last quarter, its slowest pace in 27 years. This could lead to lower future demand growth.

Upbeat Chinese Refinery Data Underpinning Prices

A slightly friendly intraday trend is developing on Friday in reaction to bullish signals from both the Chinese and U.S. refining sectors.

China’s September refinery throughput, was up 9.4% year on year at 56.49 million tonnes, boosted by new refineries and some independent refiners resuming operations after maintenance.

China Lays Out Terms for Ultimate Trade Deal

China emphasized Thursday that the U.S. must remove tariffs in order for the two countries to reach a final agreement on trade,…



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