Oil Rises Above $50 as OPEC Trims Exports, Sets Meeting on Cuts
OPEC and non-OPEC producers to gather in Abu Dhabi next week Gasoline crack spread rises as Shell Pernis has units offline Oil closed above $50 a barrel in New York Continue Reading
Are Traders Overlooking The Real Oil Price Influencer?
Was the meeting between the OPEC and non-OPEC oil ministers in St Petersburg, Russia on 24 July a game changer or not? There were high hopes for additional production cuts, Continue Reading
OPEC oil output jumps to 2017 high on further Libya recovery
LONDON (Reuters) – OPEC oil output has risen this month by 90,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, led by a further recovery in Continue Reading
Oil’s rally caught between future of Venezuelan oil, OPEC compliance
Crude oil prices dipped early Monday after posting new highs for the second half, but the situation in Venezuela, an OPEC member, could erase the decline. The U.S. government could Continue Reading
Oil hits two-month high on tighter U.S. market, Venezuela sanctions risk
Oil prices hit a two-month high on Monday, lifted by a tightening U.S. crude market and the threat of sanctions against OPEC-member Venezuela. U.S. West Texas Intermediate (WTI) futures briefly Continue Reading
Oil analysts more bearish as OPEC deal under scrutiny
Oil analysts have cut their 2017 crude price forecasts for a sixth straight month in July, citing concerns over compliance with an OPEC-led deal to limit production that could dampen Continue Reading
Oil Skeptics Exit as Market Dispels Gloom to Flirt With $50
Short positions tumbled for a fourth week, CFTC data show Net-long position on WTI most bullish in three months Start your day with what’s moving markets in Asia. Sign up Continue Reading
Peak Oil Demand in 10 Years?
Venezuela is sliding closer and closer toward the brink, and things look as if they’ll get worse, unfortunately, before they improve. A country that boasts the largest proven oilfield in Continue Reading
Oil climbs for sixth day, near eight-week highs on U.S. crude stock declines
Oil prices extended a rally into a sixth day on Friday, hovering near 8-week highs on a decline in U.S. inventories and OPEC’s ongoing efforts to curb production to ease Continue Reading
Oil Gains on OPEC Cuts, Rising Demand
Oil prices rose every day this week, their best since December, as renewed optimism about falling supply and rising demand refuel a rally. U.S. crude is bumping up against $50 Continue Reading