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Short Term Demand Boosts Oil Market

Short Term Demand Boosts Oil Market

While there's potential for short-term…

Energy / Oil Prices

Texas Producers Expect Higher Oil Prices

Jul 13, 2023 at 12:39 | Tsvetana Paraskova

Oil prices are headed higher later this year amid increasingly bullish fundamentals, even though the market is still very much focused on macroeconomic concerns.  Supplies are tightening, thanks to the…

Sour Crude Oil Prices Skyrocket As Saudi Arabia Tightens Supply

Jul 12, 2023 at 07:45 | Tsvetana Paraskova

Saudi Arabia and its fellow OPEC+ producers may not have lifted the international crude oil futures with their production cuts, but the reduced supply from the world’s top crude exporter…

The Great Oil Market Paradox: Inflation Fears Meet Rising Demand

Jul 07, 2023 at 17:54 | Irina Slav

Inflation concern. Rate hike fears. These have been the drivers of oil market moves for months now. Demand and supply have largely remained ignored. But this may be about to…

Saudi Arabia’s Oil Production Cuts Isn’t Enough To Shake Bearish Sentiment

Jul 06, 2023 at 08:48 | Alex Kimani

Leading OPEC producer, Saudi Arabia, has extended its voluntary 1M bbl/day oil production cut for another month, till August. The reduction will take the country's production to ~9M…

Saudi Arabia Hikes Oil Prices To Asia

Jul 06, 2023 at 08:47 | Alex Kimani

Days after Saudi Arabia extended its voluntary production cuts, OPEC's largest producer has hiked some oil prices to Asia, Bloomberg has reported. According to the…

Middle East Defies Weakening Asian Market To Lift Prices

Jun 26, 2023 at 09:08 | Gerald Jansen

One of the most drastic production cuts of the past years, Saudi Arabia’s pledge of reducing its crude output by 1 million b/d in July, has so far been nothing…

Where Are Oil Prices Going? It's Complicated

Jun 23, 2023 at 09:10 | Irina Slav

Oil and gas drilling in the U.S. shale patch is slowing down. Rig counts have been falling for weeks, and the latest Dallas Fed Energy Survey also

Wall Street Turns Bearish As China's Economic Recovery Stalls

Jun 16, 2023 at 07:25 | Alex Kimani

Last December, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. As the world’s largest importer of crude, most commodity…

Oil Markets On Edge Ahead Of Fed Meeting

Jun 13, 2023 at 10:50 | Tom Kool

Oil prices have bounced back after Monday's $3 per barrel decline, but markets remain on edge ahead of the latest Fed meeting. Investor Alert: Whether you are new to…

Oil Traders Ignore Saudi Warning To ‘Watch Out’

Jun 13, 2023 at 07:04 | Tsvetana Paraskova

Despite last week’s Saudi announcement of a unilateral oil production cut of 1 million barrels per day (bpd) in July, oil prices ended the week with a second consecutive weekly…

Saudi Arabia Suckered Again By Russia In OPEC+’ s Output Cut

Jun 12, 2023 at 09:18 | Simon Watkins

As predicted in my article at the end of May - partly because Russian Deputy Prime Minister and key OPEC+ negotiator Alexander Novak…

EIA: Oil Prices Will Not Rally Despite Saudi Output Cut

Jun 07, 2023 at 11:24 | Tsvetana Paraskova

Oil prices will not average more than $80 per barrel in the second half of this year, despite the most recent production cut announced by Saudi Arabia, the U.S. Energy…

U.S. Crude Joins Biggest Oil Benchmark

Jun 01, 2023 at 15:04 | Charles Kennedy

Starting today, U.S. oil will be part of the Brent crude basket that underlies the world's most traded benchmark contract. It will be the first non-European grade included in the…

WTI Screams Back Up Past $70 Despite Crude Inventory Builds

Jun 01, 2023 at 11:30 | Julianne Geiger

Crude oil prices turned around on Thursday, erasing most of the week’s earlier losses despite the latest EIA report that indicated crude oil inventories rose more than expected. WTI was…

WTI Plunges Below $70 With U.S. Debt Deal In Jeopardy

May 30, 2023 at 11:21 | Julianne Geiger

WTI crude oil futures sank below $70 per barrel on Tuesday as a shakily forged debt ceiling deal threatened to disrupt financial markets. WTI plunged 3.13 by noon—a 4.14% dip…

Debt Ceiling Deal Optimism To Boost Oil Prices

May 29, 2023 at 12:21 | Alex Kimani

Oil markets have kicked off the new week on a slightly sour note with leading benchmarks recording minor gains. WTI crude was up 0.37% to trade at…

OPEC+ Cuts Fail To Boost Middle East Oil Prices

May 26, 2023 at 17:02 | Gerald Jansen

The OPEC+ voluntary production cuts, on paper promising curtailments amounting to 1.66 million b/d, should have been the main story for May. Regrettably for many in the Middle East, just…

Oil Prices Fall Again As Wall Street Sees Threat Of Historic Default

May 18, 2023 at 09:45 | Tom Kool

Oil prices shed 1% in Thursday morning trading over American debt and the prospects for a historic default, despite gains on Wednesday driven by demand optimism in the…

Oil Prices Rise As Canada Wildfires Rage On

May 15, 2023 at 12:16 | Julianne Geiger

Crude oil prices were on the rise on Monday as the market continued to fear a tightening of crude supplies on Canadian wildfires. Crude oil prices were…

Is The Oil Price Slide Finally Over?

May 09, 2023 at 12:10 | Tsvetana Paraskova

Despite oil’s most recent slump to a 15-month low last week, analysts and investment banks continue to expect higher prices at the end of this year as demand is set…

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