Citi: Demand Growth Could Push Oil To $60 By Christmas
Crude oil prices could jump to US$60 a barrel by this year’s end thanks to growing demand and lower OPEC supply, according to Citigroup’s senior energy analyst Eric Lee, as Continue Reading
Oil Up? Oil Down? Blame the Algorithms
When energy analysts and investors couldn’t figure out oil markets this year, they blamed one group: algorithmic traders. On various days over the first six months of 2017, even amid Continue Reading
Is This Year’s Driving Season Over Before It Began?
Exactly six months ago, when oil bulls still held on to some fleeting hope that OPEC may somehow stabilize the crash in oil prices despite the shift in marginal oil Continue Reading
The Major Wildcard That Could Send Oil To $120
The latest rally in oil prices ran up against a wall yet again, and the same fears about oversupply have not receded in the slightest. The expectation from most oil Continue Reading
Oil Fields Pumping a Third of Supply Die Fastest in 24 Years
The tussle for supremacy between OPEC and U.S. shale drillers is killing off older oil fields at the fastest pace in almost a quarter century. That could hurt the industry Continue Reading
OPEC: Further Cuts Off The Table
No further oil output cuts are on the agenda for the July meeting of the ministerial committee set up to monitor compliance with the OPEC-non-OPEC deal, the cartel’s secretary general Continue Reading
Libya, Nigeria Invited to Meeting of Oil Producers
Libya and Nigeria have been invited to a meeting of big oil producers in St. Petersburg, Russia, this month to discuss their surging petroleum output, Kuwait’s oil minister said. Kuwait’s Continue Reading
Will Capping Libyan And Nigerian Output Salvage The OPEC Deal?
Since they struck the production cut deal in late November, OPEC and the non-OPEC partners that are part of the agreement have seen U.S. shale ramping up crude production more Continue Reading
What Oil Bulls Don’t Know About Global Inventories
Dispensing his usual dose of optimistic crude oil buzzkill, Bloomberg energy strategist Julian Lee points out something troubling to both OPEC and those who are hoping that the latest dip Continue Reading
OPEC’s “Whatever It Takes” Is An Empty Promise
High demand for air conditioning and fuel for road trips make summer the best time for the Organization of Petroleum Exporting Countries (OPEC) to cut production or exports to end Continue Reading