Oil Up As Saudi Arabia Cuts
Oil prices are set to end the week slightly up from where it started, following a few rocky days of trading. After a sharp correction earlier in the week, oil Continue Reading
Oil Prices Swing Between Gains and Losses
Oil prices flipped between gains and losses Friday, as investors weighed the prospects for lower production levels against building oil products in storage. Light, sweet crude for February delivery was Continue Reading
Brent Oil Closes at 18-Month High After Positive U.S. Jobs Data
Brent oil rose to the highest close in almost 18 months after U.S. government data showed strong job and wage gains while Kuwait and Saudi Arabia signaled they are curbing Continue Reading
Oil market’s fireworks fade in first week of 2017
Oil started the first week of 2017 with a bang but ended it with a whimper, as the Opec fireworks that dominated the last quarter gave way to the more Continue Reading
Expert Commentary: Why Oil Is Struggling To Hit $60
WTI traded in a $52.11 – $55.25 range this week driven by sharp moves in currencies, updates related to good and bad behavior on production cuts from OPEC and non Continue Reading
Platts Sees OPEC Cuts Eliminating Oversupply By Q3
The agreement between OPEC and non-cartel oil producers to reduce supply would help draw down the huge global inventory build by the third quarter of this year, S&P Global Platts Continue Reading
Will OPEC Deliver Its Output Cut Deal? Here’s How We’ll Know
The promise of production cuts from OPEC and its partners sent oil rallying in 2016. Now traders want proof they’re delivering on those vows. It won’t come easy. The challenge: Continue Reading
Saudis, Russia to diverge on speed of oil output cuts: Kemp
OPEC and non-OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day (bpd) in the first six months of Continue Reading
Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels – sources
Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is Continue Reading
Nigeria remains upbeat over tentative output recovery
Despite intractable militancy and ongoing theft from pipelines which has hobbled its oil production, Nigeria’s government remains resolutely upbeat over its plans to turn things around in 2017. Nigeria, which Continue Reading