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Oil prices saw a significant…

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Tom Kool

Tom Kool

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

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The Silver Lining Of An Oil Price Crash

It has been a dismal week for oil prices despite a slight recovery on Friday morning, but there may be a silver lining to the most recent price crash.

Investor Alert: A new breakthrough – known by only a handful of scientists, researchers and insiders – is about to turn the energy world upside down. And one small company is at the center of it all. Get the full report here.

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Oil rebounded on Friday but it was not enough to erase the roughly 7 percent meltdown seen on Thursday. The trade war is starting to become a top concern for global equity and commodity markets. As of mid-day, WTI was trading above $58 per barrel and Brent moved above $67, somewhat mitigating what has otherwise been a dismal week. On the upside, the plunge in prices and the renewed bearishness undercuts the rationale for OPEC+ to increase production. “It is reasonable to doubt whether Saudi Arabia will be willing to step up its output given the latest decline in prices,” analysts at Commerzbank said. “We therefore expect to see higher oil prices again in the near future.”

Chinese demand takes a hit. Demand for fuels in China is showing weakness, with teapot refineries seeing inventories building…


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