Oil Prices Near One-Year High
Oil prices firmed Tuesday, holding near more than 1-year highs, buoyed by commitments from oil producing countries to cut global production by around 2%. Brent crude, the global oil benchmark, Continue Reading
Oil Holds OPEC-Driven Rally as Focus Shifts to U.S. Stockpiles
Oil held gains near the highest level since July 2015 as market focus shifts to U.S. crude stockpile and production data after OPEC and other nations agreed to coordinated output Continue Reading
Oil prices soar on global producer deal to cut crude output
Oil prices shot to their highest levels since mid-2015 on Monday after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein Continue Reading
Hedge funds establish record bullish position in oil after OPEC: Kemp
Hedge funds were badly caught out by the production cuts announced by OPEC at the end of last month, triggering a furious rally as managers raced to buy back loss-making Continue Reading
Can OPEC Send Oil To $70?
OPEC managed to convince almost a dozen non-OPEC producers to take part in oil production cuts over the weekend, and the news immediately sent international benchmarks higher, prompting a fresh Continue Reading
Goldman Sachs Warns The Saudis: ‘’U.S. Shale Will Respond’’
Even if OPEC and non-OPEC producers deliver the promised cuts and oil spikes to US$60, a recovering U.S. shale production would drag crude prices back to US$55, and the Saudis Continue Reading
Erasing The Glut: Is 1.8 Million Bpd Enough?
Oil jumped by more than 4 percent on Monday, with WTI moving up to $53 per barrel and Brent topping $56 per barrel. It is very possible that we could Continue Reading
Oil Climbs as More Producers Join Output Cuts
Crude futures surged by more than 4% in Monday-morning trade in Asia after more oil-producing nations agreed to slash production , a move aimed at pushing the oversupplied oil market Continue Reading
Oil Seen Headed to $60 as Saudis Signal Deeper Output Cuts
Oil may climb to $60 a barrel for the first time in almost a year and a half after Russia and other unaffiliated nations joined an OPEC pledge to reduce Continue Reading
OPEC Skeptics Flee as Production Cut Rockets Oil Past $50
Investors skeptical that OPEC would cut output fled the market after the group came to an agreement. Money managers slashed bets on lower West Texas Intermediate crude prices by the Continue Reading