Can An OPEC Deal Influence Oil Prices At All?
Offshore Oil Rig Saudi Arabia and Russia announced their cooperation to stabilize global oil markets, and while crude oil jumped on the news, it quickly gave back more than half Continue Reading
What’s Really Going On With The OPEC Freeze?
Ahead of the OPEC meeting in Algeria, Oilprice.com sat down with Robin Mills, an expert on Middle East energy strategy and economics, to get a clearer view of the forces Continue Reading
Weaker U.S. Dollar Provides Tailwind for Oil Prices
Oil prices rose Wednesday on a slightly weaker dollar despite dwindling hopes for a production freeze agreement between major producers. The November contract for global crude benchmark Brent edged 0.66% Continue Reading
Gas prices slide despite market pressures
Drivers in the United States are seeing the price for retail gasoline slide as area refiners resolve issues and weather threats subside, motor club AAA reports. AAA reports a national Continue Reading
Short-Term Energy Outlook
Benchmark North Sea Brent crude oil spot prices averaged $46/barrel (b) in August, a $1/b increase from July. This was the fourth consecutive month in which Brent spot crude oil Continue Reading
Oil Prices Edge Lower As Output Freeze Hopes Fizzle Again
OPEC oil After yesterday’s accord between Saudi Arabia and Russia ignited an effervescent oil rally, we have now seen these hopes fizzle out once more. As the ‘task force’ agreement Continue Reading
Oil Prices Subside After Output-Freeze Hopes Dashed
Oil prices were mixed Tuesday after a volatile session the day before triggered by hopes for a production freeze agreement from major producers. The November contract for global crude benchmark Continue Reading
Oil Trades Near $45 as Saudi Arabia, Russia Fall Short of Freeze
Saudi minister says no need for production freeze right now Russia ready to join agreement, energy minister says Oil traded near $45 a barrel as talks between Russia and Saudi Continue Reading
Brent extends gains after Russia, Saudi Arabia sign pact
Crude prices extended gains on Tuesday, buoyed after top producers Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market, but a lack of immediate action to rein Continue Reading
Oil Trades Near $45 as Saudi Arabia, Russia Fall Short of Freeze
Saudi minister says no need for production freeze right now Russia ready to join agreement, energy minister says Oil traded near $45 a barrel as talks between Russia and Saudi Continue Reading