EIA Sharply Cuts Oil Price Forecast
The EIA has revised downward again its oil price forecast in October’s Short Term Energy Outlook (STEO), shaving another $5 per barrel off its forecast compared to last month’s STEO. Continue Reading
Oil prices drop as hopes fade for comprehensive U.S.-China trade deal
Oil prices settled lower on Monday, paring earlier gains as hopes of a comprehensive U.S.-China trade deal faded and a new poll showed analysts expected U.S. oil crude inventories to Continue Reading
$10 Oil – How Far Could Oil Prices Fall If We See A 2009 Style Crash?
While predictions about volatile oil prices abound, one theme keeps popping up: geopolitical risk premium. First it was theories about a closure at the Strait of Hormuz. Then it was Continue Reading
Crude oil futures slip ahead of US-China trade talks | S&P Global Platts
Crude oil futures were lower during mid-morning trade in Asia Monday ahead of the US and China trade talks this week. At 11:00 am in Singapore (0300 GMT), ICE Brent Continue Reading
Oil Slumps Again… Will OPEC Act?
Saudi Aramco has fully restored the damaged production from the Abqaiq and Khurais facilities from just a few weeks ago, an impressive turnaround in such a short period of time. Continue Reading
Are Russia and Saudi Arabia Still Pumping Too Much Oil?
This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s. OPEC ’s oil production tumbled the Continue Reading
Oil settles up as U.S. unemployment rate drops, but crude ends week down 5%
Oil prices rose about 1% on Friday as an increase in U.S. jobs eased some financial market concerns that a slowing global economy could dent oil demand, but crude fell Continue Reading
Oil Markets: Everything Is About Weak Demand
Oil prices dropped sharply during trading on Thursday but recovered on hopes of more aggressive action from the Federal Reserve. The U.S. jobs report on Friday revealed more weakness, but it wasn’t Continue Reading
Markets Fear Oil Price Collapse: Should OPEC Cut More Production?
It’s been nearly three years since the world’s top oil exporter and OPEC’s de facto leader Saudi Arabia forged an alliance with Russia to start managing oil supply with the Continue Reading
Crude oil futures steady amid comments from Iran, demand woes linger
Crude oil futures were largely steady during mid-morning trade in Asia Thursday after Iran’s latest comments about the geopolitical unrest in the Middle East as well as bearish US economic Continue Reading