U.S. crude production expands to highest level since 2015 Novak says Russia implemented full 300,000 barrel-a-day cut After a rally in the first half of April, oil is set to Continue Reading
Oil prices stabilized on Friday but were on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market. Continue Reading
Oil prices dipped on Thursday, weighed down by a general sentiment of globally bloated markets, though traders said that prices seemed to have found support around current levels. U.S. West Continue Reading
When OPEC instituted their recent production cuts, the theory was that oil markets would balance after crashing in 2014. After Donald Trump won the presidency, many speculated that price fluctuation Continue Reading
In its latest Commodity Markets Outlook, the World Bank maintained its Q1 forecast for oil prices at $55 a barrel, saying, however, that overall energy prices will increase 26 percent Continue Reading
Just as we warned yesterday following the EIA inventory and production data release, the exuberance over the crude draw was misplaced (due to the surge in product builds and almost Continue Reading
Two of the most influential voices in the oil market today separately set out a stark picture of a coming crude supply shortfall. The IEA and state-owned Saudi Aramco both Continue Reading
The volume of new oil discoveries hit a record low in 2016, the result of severe cuts to exploration budgets amid plummeting oil prices. The number of new conventional drilling Continue Reading
U.S. refiners have come out of maintenance season betting that big exports to Mexico and South America will help alleviate high product inventories and boost margins as the critical summer Continue Reading
OPEC wants oil inventories to decline further and is working to ensure a policy-setting meeting in May reaches consensus, the group’s secretary-general said on Thursday in comments pointing to an Continue Reading
