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Energy / Oil Prices

OPEC’s Oil Revenues Set To Plunge To 18-Year Low

Nov 03, 2020 at 11:19 | Tsvetana Paraskova

The low oil prices and the record OPEC+ production cuts are set to nearly halve the net oil export revenues of OPEC members this year compared to 2019, sending them…

Oil Prices Rise On Election Day

Nov 03, 2020 at 09:08 | Tsvetana Paraskova

Oil prices jumped early on Tuesday, with Brent back above the $40 a barrel mark, supported by a rally in financial markets and a weaker U.S. dollar on Election Day.…

Analysts: Oil Prices Are Going Nowhere In The Short Term

Oct 30, 2020 at 09:45 | Tsvetana Paraskova

Oil prices will continue to trade in a narrow range for the rest of the year, and the average Brent price next year will not exceed $50 a barrel, the…

Saudi Energy Minister: The Worst Is Over For Oil Markets

Oct 27, 2020 at 10:10 | Julianne Geiger

The worst of the oil market is behind us, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Monday at CERAWeek's India Energy Forum. "We are still vigilant. I…

Hedge Funds Boost Bullish Oil Bets

Oct 26, 2020 at 13:15 | Tsvetana Paraskova

Portfolio managers increased their bullish bets on crude oil futures and options in the week to October 20 by the most since April, according to the latest commitment of traders…

Venezuela’s Oil Major Sees Oil At $35 Through 2021

Oct 23, 2020 at 08:46 | Irina Slav

Venezuela’s state oil company has made a pessimistic estimate for next year’s oil prices, expecting to make just $35 per barrel for the crude it exports, Reuters has reported.…

World Bank Sees Oil Average $44 in 2021

Oct 22, 2020 at 13:01 | Tsvetana Paraskova

Energy prices suffered the most among commodities in the pandemic—especially oil prices—and they won’t be rising much next year either, averaging just $44 a barrel, the World Bank said in…

Saudi Arabia Is Suffering The Consequences Of Its Failed Oil Price War

Oct 21, 2020 at 17:11 | Simon Watkins

Nine months on from Saudi Arabia’s second major oil price war in the last five years, more negative consequences are manifesting themselves. Aside from the irrevocably

China's Crude Imports Become Backbone Of Oil Price Recovery

Oct 21, 2020 at 14:08 | Tsvetana Paraskova

The world’s largest oil importer, China, will continue to have a significant impact on the oil market in the coming months, as most of the rest of the…

Brent Oil Unlikely To Rise Above $43 Until After U.S. Election

Oct 13, 2020 at 09:04 | Tsvetana Paraskova

The international oil benchmark Brent Crude will likely range-trade in the $40 to $43 a barrel band until after the U.S. election on November 3, according to OCBC Bank.…

Could Big Oil’s Shift To Renewables Be Good For Prices?

Oct 09, 2020 at 16:59 | Irina Slav

An existential crisis for oil supply: this is how one Rosneft executive referred to BP’s and Shell’s recent commitments to a renewable energy shift. This shift,…

Why The Elections Aren’t Moving Oil Prices

Oct 08, 2020 at 17:24 | Alex Kimani

The U.S. elections are less than a month away, and the oil market cannot seem to make up its mind whether it prefers a Biden or Trump presidency.…

Oil Spikes After OPEC Claims: ‘’The Worst Is Over For The Oil Market’’

Oct 08, 2020 at 14:18 | ZeroHedge

Crude future prices spiked on Thursday after OPEC said Thursday that the "worst is over" for the oil market. Front month crude contracts were up 3.08% to…

Problems Are Piling Up For Oil Majors

Oct 07, 2020 at 11:06 | Ag Metal Miner

Consumers reacted to earlier lockdowns and continued pandemic restrictions, leading to a massive drop in demand. On the other hand, prices initially collapsed after Saudi Arabia led an…

Saudi Arabia Boosts Prices Of Flagship Crude Oil Blend

Oct 07, 2020 at 09:04 | Julianne Geiger

Oil markets might be looking up, if Saudi’s official oil selling price actions are any indication—and they usually are. Saudi Arabia has raised the official selling price of…

Oil Rallies As Trump Returns To The White House

Oct 06, 2020 at 10:00 | Tsvetana Paraskova

After soaring on Monday, oil prices continued to rise on Tuesday after U.S. President Donald Trump returned to the White House from the hospital where he was treated for COVID-19,…

Oil Prices Soar As Trump’s Condition Improves

Oct 05, 2020 at 10:53 | Julianne Geiger

Oil prices skyrocketed on Monday morning as U.S. President Donald Trump’s health appears to have improved after testing positive for the coronavirus on Thursday evening. At 11:06 a.m. EDT, the…

Saudi Arabia Sees Oil At $50 Until 2023

Oct 05, 2020 at 09:04 | Irina Slav

Saudi Arabia appears to be more upbeat about the immediate future of oil prices than fundamentals warrant, according to Goldman Sachs analysts. These have calculated that the Saudi budget plan…

Souring Fundamentals Force Brent Crude Oil Below $40

Oct 02, 2020 at 13:34 | Tom Kool

Both the President and First Lady of the United States have tested positive for COVID-19 on a day when Brent oil prices crash below $40 and the U.S. rig count…

Oil Falls As Trump Tests Positive For COVID-19

Oct 02, 2020 at 09:02 | Irina Slav

Crude oil prices took a nosedive today after President Donald Trump tweeted late last night that both he and the first lady had tested positive for Covid-19. Brent crude…

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