• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour How Far Have We Really Gotten With Alternative Energy
  • 9 days What fool thought this was a good idea...
  • 11 mins Bad news for e-cars keeps coming
  • 7 days A question...
  • 12 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 13 days They pay YOU to TAKE Natural Gas
Editorial Dept

Editorial Dept

More Info

Premium Content

Will Bearish Sentiment Break OPEC+?

OPEC

The oil market has gone decidedly bearish, and sentiment is growing that Moscow isn’t going to be able to play ball much longer with OPEC cuts. The World Bank has slashed its economic growth outlook for Russia for 2019 over lower crude production after it agreed with OPEC to cut some 300,000 bpd and a major contamination problem led to a disruption at the Druzhba pipeline. Russia’s GDP growth is now set at an expected 1.2%, down from 1.5%. To make things worse, while everyone has been focused on the supply side of this equation, bearish sentiment has been boosted by the demand narrative. Consumption levels have been dropping thanks to fears of a global economic growth slowdown. Economic slowdowns in China and Germany, the never-ending Brexit debacle, and now an even more intensified trade war are all contributing to that negative picture. Saudi Arabia also said on Friday that OPEC was close to agreeing to extend production cuts past June, but they haven’t yet sealed the deal with non-OPEC countries (i.e. Russia).

Will There Be a War With Iran?

It’s a million-dollar question and one that is impossible to answer definitively. One can, however, assess the situation from various external perspectives and an even greater number of proxies involved in this brewing conflict. If this conflict does escalate, Iran warns that oil prices could go above $100 per barrel as soon as the first shot is fired in the Persian Gulf. Technically, that shot was already fired when Saudi…





Leave a comment

Leave a comment




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