Morgan Stanley: This Oil Rally Won’t Last
Oil prices have likely risen too fast too soon with the market focusing on supply cuts, while global oil demand may not return to pre-COVID-19 levels before the end of Continue Reading
$35 Brent: Goldman Sachs Turns Bearish On Oil
The relief rally in oil may be coming to an end as oil market fundamentals are turning bearish once again and pointing to Brent Crude slipping back to $35 in Continue Reading
World Bank: world will suffer largest downturn since 1940s
The World Bank said Monday the world is facing an unprecedented health and economic crisis that has spread with astonishing speed and will result in the largest shock the global Continue Reading
Coronavirus Downdraft Has Airports Scaling Back Renovation Plans
As New York city reopens Monday, California and some other states see coronavirus cases rise; a new poll reveals partisan divides over the pandemic; Brazil, a global hotspot for the Continue Reading
Global LNG Markets Crushed By Global Pandemic
It may come as a shock to some, but crude oil wasn’t the worst-performing energy commodity in May. Judging by the headline space devoted to it, one would naturally assume Continue Reading
Deep Output Cuts Could Cause Long Lasting Deficit In Oil Markets
The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude and condensate demand, but are deep Continue Reading
Iran expects gas flows to Turkey to resume in July, rejects force majeure claim
Iran expects gas exports to Turkey to resume by mid-July at the latest, a senior Iranian gas official said June 7, following an explosion on a pipeline in Turkey that Continue Reading
Iraq’s new oil minister affirms commitment to OPEC+ deal
Iraq’s new oil minister affirmed the country’s commitment to the OPEC+ deal in a phone call with the Saudi energy minister after failing to comply in the first month of Continue Reading
‘Thriving’ oil demand prompts Saudi Aramco to lift prices
Saudi Arabia sees signs of “thriving” demand in the oil market after the collapse triggered by the pandemic, the kingdom’s oil minister said on Monday. Prince Abdulaziz bin Salman said Saudi Continue Reading
Why Saudi Arabia Will Lose The Next Oil Price War
Saudi Arabia has instigated two oil price wars in the last decade and has lost both. Given its apparent inability to learn from its mistakes it may well instigate another Continue Reading