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What Does OPEC’s Strategy Shift Mean for the Oil Market?

What Does OPEC’s Strategy Shift Mean for the Oil Market?

OPEC+ changes course, announcing plans…

Energy / Oil Prices

Middle East Oil Producers Under Pressure To Cut Prices Again

Nov 28, 2022 at 08:48 | Gerald Jansen

The Middle East has been steadily reaping the benefits of its oil bounty throughout 2022, arguably one of the most successful years for the region at large in…

Goldman Sachs Slashes Oil Price Forecast By $10

Nov 21, 2022 at 07:38 | Irina Slav

Goldman Sachs has cut its oil price forecast by $10 to $100 per barrel, citing lockdowns in China that would dampen demand for the commodity. The…

WTI Drops To $80 As Bearish Momentum Grows

Nov 18, 2022 at 07:57 | Editorial Dept

U.S. West Texas Intermediate crude oil traded lower on Thursday as the U.S. Dollar soared on hawkish comments from a widely followed Federal Reserve member. Prices were already trading lower…

Oil Falls More Than 4% As Traders Ditch The China Reopening Play

Nov 17, 2022 at 11:46 | Julianne Geiger

Oil prices plummeted on Thursday on a series of bearish market forces, led by thin liquidity and easing geopolitical tensions between Russia and the West when it became clear that…

Fitch: This Is The Biggest Downward Risk For Oil Markets In 2023

Nov 17, 2022 at 08:44 | Charles Kennedy

Short-term oil price forecasts have been persistently bullish this year, with most forecasters expecting benchmarks to top $100 sometime next year. Over the longer term, however, things change.…

Oil Prices Fall As Druzbha Pipeline Resumes Flows

Nov 16, 2022 at 11:11 | Alex Kimani

Oil prices have been falling in Wednesday’s session after oil flows on the Druzhba pipeline from Russia to Eastern Europe resumed after having…

Oil Prices Rise After Stray Rockets Land In Poland, Killing Two

Nov 15, 2022 at 13:13 | Julianne Geiger

Poland is holding an emergency meeting of the National Security Committee after a report surfaced that a suspected missile has struck a village in Poland, killing two. Tensions were heightened…

How The Price Cap On Russian Oil Could Cripple India’s Crude Imports

Nov 15, 2022 at 07:48 | ZeroHedge

India would be one of the countries most exposed if Russia refuses to sell crude oil at the capped price under proposed sanctions to be imposed by the United States…

Oil Prices Jump As U.S. Inflation Comes Below Expectations

Nov 10, 2022 at 08:07 | Julianne Geiger

Oil prices erased earlier losses and moved higher on Thursday just after the U.S. Bureau of Labor Statistics released data for October showing that inflation in the United States last…

Russia’s Shipping Crude Oil Like Mad Ahead Of Sanctions

Nov 07, 2022 at 11:17 | Julianne Geiger

Russia’s seaborne crude oil exports spiked to a five-month high last week as buyers scrambled to get their hands on as much cheap Russian crude oil as they could ahead…

WTI Crude Spikes Almost 5% On Fears Of Tight Supply

Nov 04, 2022 at 10:06 | Julianne Geiger

Crude oil prices were on the rise early on Friday morning on continuing fears that the oil markets remain tight with the G7 agreeing on a fixed price capping mechanism…

U.S. Refineries Profit From Cheap Sour Crude

Nov 03, 2022 at 10:06 | Tsvetana Paraskova

Despite a decline in refining margins in recent months, the biggest American refiners continue to post bumper profits, helped by cheaper sour crude grades and lower costs for…

Oil Shortage Forecasts Clash With Grim Economic Projections

Nov 01, 2022 at 15:17 | Irina Slav

For about two months now, signals from the oil market have pushed traders from one extreme to another, as headwinds clash with tailwinds, with the global economic slowdown…

Deep OPEC Output Cuts Upend Biden’s Attempt To Lower Oil Prices

Oct 31, 2022 at 09:28 | Robert Rapier

I tell people that to understand OPEC, you have to put yourself in their position. Their objective is to maximize the value of the oil they have in…

U.S. Accelerates Three-Tier Plan To Reduce Oil Prices

Oct 25, 2022 at 14:58 | Simon Watkins

The immediate aftermath of the 1973/74 oil embargo in which Saudi Arabia led its OPEC brothers to block oil exports to the U.S.,…

Biden Just Put A Floor Under Oil. Will It Work?

Oct 21, 2022 at 12:06 | Irina Slav

The Biden administration is ready to sell additional volumes of crude oil from the strategic petroleum reserve after the end of the 180-million-barrel release plan and then it…

Oil Prices Crumble As Core U.S. Inflation Hits 40-Yr High

Oct 13, 2022 at 08:29 | Julianne Geiger

Oil prices fell on Thursday morning following new CPI data that showed core inflation in the United States had risen to the highest level in four decades.

Oil Prices Slide As OPEC+ Bump Wears Off

Oct 11, 2022 at 09:08 | Julianne Geiger

Oil prices slipped further on Tuesday as the market reassessed the OPEC+ production quota cut, and the IMF warned about the increased risk of a global recession.

The Radical Plans To Counter High Oil Prices

Oct 06, 2022 at 12:57 | Alex Kimani

The latest OPEC+ output cuts for November mean it’s back to the drawing board for the White House and a re-emergence of discussions about the viability of “NOPEC”,…

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

Oct 04, 2022 at 10:44 | Julianne Geiger

OPEC+ may be considering an even larger cut than previously reported—at up to 2 million bpd, anonymous delegates told media on Tuesday. As OPEC+ prepares to meet this Wednesday to…

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