OPEC Won’t Stop When Oil Hits $80
OPEC is not in a rush to start winding down the production cuts despite oil prices continuing their strong rally, with Brent briefly breaking above $79 a barrel on Tuesday. Continue Reading
Morgan Stanley Says A Shipping Revolution Has Oil Headed For $90
Forget Iran and OPEC — there’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley. Brent crude will reach $90 a barrel Continue Reading
OPEC sees oil rally towards $80 as short-term spike, not supply-driven
OPEC sees oil’s rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not Continue Reading
Oil Prices Keep Climbing Despite Stronger Dollar
Oil prices rose in volatile trading Tuesday, shrugging off a strong dollar and weak equity markets . U.S. crude futures rose 35 cents, or 0.5%, to $71.31 a barrel on Continue Reading
Oil Prices Flat After API Reports Surprise Crude Build
As the price of Brent Crude hit multi-year highs earlier today, the American Petroleum Institute (API) reported a surprise build of 4.854 million barrels of United States crude oil inventories Continue Reading
Brent Crude Hits New High On Soaring Demand
Brent crude hit a new high of over US$79 a barrel on data about higher demand in key markets such as China and OPEC’s bullish Monthly Oil Market Report, in Continue Reading
Oil Inches Closer To $80
The U.S. exported 905,000 bpd of propane in 2017, about half of which went to Asia to be used in petrochemical production. – Surging demand in Asia for propane has Continue Reading
IEA warns global oil demand may suffer as crude nears $80
Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel Continue Reading
Will $100 Oil Kill The U.S. Economy?
Brent is nearing $80 per barrel and some analyst see $100 not far off. That raises the question about how much of a dent high oil prices will make in Continue Reading
Oil gains on OPEC report; U.S. crude discount to Brent deepens
Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated, while U.S. crude’s discount to global benchmark Brent widened to more than $7, Continue Reading