Goldman Sachs: Brent Oil Could Drop To $45 In April
In the second downward revision of its oil price outlook in just one month, Goldman Sachs slashed again its estimates for 2020, noting that even deeper OPEC+ cuts and central Continue Reading
Global Economy Is Gripped by Rare Twin Supply-Demand Shock
The coronavirus is delivering a one-two punch to the world economy, laying it low for months to come and forcing investors to reprice equities and bonds to account for lower company Continue Reading
Oil Clinches Gain After OPEC+ Committee Recommends Supply Cut
Crude futures rose 0.9% in New York on Tuesday. Ahead of OPEC meetings later this week, the group’s Joint Technical Committee recommended an output cut of 600,000 to 1 million Continue Reading
Crude oil futures rise as market anticipates OPEC+ meeting outcome
Crude oil futures were higher in mid-morning trade in Asia Wednesday as the market looked ahead to a decision on production cuts from the upcoming OPEC+ meeting on Thursday. At Continue Reading
Here’s Why Oil Prices Should Go Higher
On February 11, I predicted that Coronavirus would crush oil prices. Prices collapsed on February 20. Today, prices have reversed and WTI price is $2.00 higher on expectations of an Continue Reading
Smaller Than Expected Crude Build Fuels Oil Rally
The American Petroleum Institute (API) estimated on Tuesday a smaller than anticipated crude oil inventory build of 1.7 million barrels for the week ending February 28, compared to analyst expectations Continue Reading
Is This Oil Rally Justified?
Oil rallied on Tuesday morning, along with equity markets after the U.S. Federal Reserve announced an emergency rate cut of 50 basis points. The news sent major indices rallying, with Continue Reading
Crude oil futures rise as sentiment improves ahead of key discussions among global leaders
Crude oil futures surged in mid-morning trade in Asia Tuesday as sentiment improved ahead of key discussions including a G7 global teleconference and the OPEC+ meet later in the week. Continue Reading
Oil rebounds over 4% as hopes of OPEC cut, stimulus counter virus gloom
Oil prices jumped more than 4%, up from multi-year lows hit earlier on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered Continue Reading
A $30 Oil Price Is the Real Virus Threat to OPEC
It’s finally upon us. The week when ministers from the oil-producing countries of OPEC and their allies meet to decide on the future of their latest round of output cuts. Continue Reading