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Citi Bank Sees $60 Oil In 2021

Citi Bank Sees $60 Oil In 2021

Oil prices are set to…

Energy / Oil Prices

Oil Prices Jump Ahead Of Crucial OPEC+ Meeting On Saturday

Jun 05, 2020 at 08:48 | Tsvetana Paraskova

Oil prices rallied early on Friday as the market expects a weekend meeting of OPEC and its Russia-led allies to roll over the current levels of the OPEC+ production cuts…

Outlook For Oil Remains Grim Despite 90% Rally

Jun 04, 2020 at 12:14 | Irina Slav

WTI rose almost 90 percent last month, which is the strongest monthly increase in the U.S. benchmark price ever recorded. Naturally, the news has been cause for joy among those rooting…

Saudi Arabia And Russia Agree To Extend Production Cuts

Jun 03, 2020 at 10:38 | Tsvetana Paraskova

Saudi Arabia and Russia have reached a preliminary agreement to extend the current level of the OPEC+ production cuts by one month, provided that the laggards in compliance ensure over-compliance…

Brent Tops $40 For The First Time Since March

Jun 03, 2020 at 08:42 | Tsvetana Paraskova

Brent Crude prices broke above $40 a barrel early on Wednesday, surpassing that threshold for the first time since Saudi Arabia and Russia broke up the previous OPEC+ pact on…

Why Saudi Arabia Is Desperate To Extend OPEC+ Cuts

Jun 02, 2020 at 16:26 | David Messler

OPEC+ hopes to reduce global storage volumes with their production cuts, and hopes to extend them through at least, the summer. OPEC’s regular meeting in Vienna is coming…

Will OPEC+ Extend Its Historic Production Cut Agreement?

Jun 01, 2020 at 13:54 | Nick Cunningham

OPEC+ is set to bring forward its meeting to Thursday, with a short extension of the current production cuts as the most likely outcome.  Originally scheduled…

Saudi Arabia Could Set Trend For Higher Oil Prices In June

Jun 01, 2020 at 09:45 | Tsvetana Paraskova

Saudi Arabia is likely to increase the price for its oil bound for Asia in July, a Reuters survey of five refinery sources showed on Monday.  This is the second consecutive…

Oil Prices Are Unlikely To Break $40 This Year

May 29, 2020 at 10:01 | Tsvetana Paraskova

Despite production cuts from OPEC+ and North America and slowly improving demand, oil prices are not expected to average much higher than current prices in 2020 because of renewed U.S.-China…

Stocks To Watch As Shale Bounces Back

May 28, 2020 at 17:32 | David Messler

There is no question that as the oil price dropped in the first quarter of 2020, producers reacted strongly curtailing new drilling, and actually shutting in existing production.…

Oil Prices Stabilize On Rumors Of An OPEC+ Extension

May 28, 2020 at 09:30 | Tom Kool

Oil traded flat on Thursday morning following yesterday’s correction driven by Saudi Arabia and other OPEC members signaling that they are considering extending the huge output cuts until…

Oil Markets Could Soon Face A Devastating Supply Crunch

May 27, 2020 at 12:02 | Alex Kimani

Concerted production cuts by OPEC+ and IOCs have largely been canceled out by a sharp fall in global oil demand from a record peak of >100 mbd to…

Morgan Stanley Expects $40 Brent By Christmas

May 27, 2020 at 10:05 | Irina Slav

Morgan Stanley expects Brent crude to trade at $40 a barrel by the end of the year thanks to the recovery in demand, which has taken off faster than the…

Will U.S. Shale Survive If Oil Hits $40?

May 26, 2020 at 17:18 | Irina Slav

Within a month, the U.S. oil benchmark West Texas Intermediate recorded two first-of-a-kind events. First, it fell below zero on April 20. Then, it soared up so high…

Oil Prices Rise As Supply Shrinks

May 26, 2020 at 12:13 | Tsvetana Paraskova

Oil prices rose early on Tuesday as market participants believed that improving demand and more supply coming off would ease the glut faster than expected. As of 10:37 a.m. EDT…

The State Of Texas Collected Huge Royalty Check Before Price Crash

May 26, 2020 at 10:09 | Tsvetana Paraskova

The state of Texas collected at least US$13.4 billion in the form of royalties and taxes from the oil and gas industry last year, just before the oil price crash,…

$30 Oil Isn’t Good Enough For U.S. Shale

May 25, 2020 at 17:29 | Nick Cunningham

The rebound of WTI from below zero back into the $30s led to a wave of bullish trading, with energy stocks rallying in response. One renowned industry expert…

Chinese Hedge Funds Are Betting Big On An Oil Price Recovery

May 25, 2020 at 11:13 | Tsvetana Paraskova

Little-known Chinese hedge funds are betting big on an oil price recovery on the Shanghai-traded yuan-denominated oil futures and are set to fill up all available storage for delivery…

Oil Is Unlikely To Go Much Higher

May 22, 2020 at 17:10 | Nick Cunningham

Oil prices have climbed nearly uninterrupted since late April, but the gains could be coming to an end.  On Friday, oil prices fell sharply, hitting the…

Oil Tumbles On Fears Of Slow Chinese Economic Recovery

May 22, 2020 at 07:44 | Tsvetana Paraskova

Oil prices dipped by more than 6 percent early on Friday, after China’s top policy-setting meeting didn’t set an annual economic growth target because of “great uncertainty” of the recovery…

Oil Climbs As Fears Of Negative Prices Fade

May 20, 2020 at 16:16 | Alex Kimani

Trader anxiety has earned a reprieve, with oil markets dodging one of many bullets after a key U.S. benchmark oil futures contract avoided a repeat of the April fiasco that…

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