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OPEC Extension Sends Oil Prices Soaring
OPEC Extension Sends Oil Prices Soaring Oil markets’ initial reaction to yesterday’s OPEC news was rather dull, however oil prices saw a sharp spike on Friday morning as the bulls returned to the mix. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) OPEC followed through […]
OPEC Agrees To Extend Oil Supply Cuts Until End Of 2018: Bloomberg
OPEC Agrees To Extend Oil Supply Cuts Until End Of 2018: Bloomberg With OPEC delegates sequestered in a Vienna conference room, as they negotiate the proposed 6-9 month production cut extension, at least one appears to be leaking the decision process to media outlets, because moments ago Bloomberg reported that OPEC ministers have agreed to […]
IEA Pours Cold Water On OPEC Optimism, Warns Global Oil Demand Shrinking
IEA Pours Cold Water On OPEC Optimism, Warns Global Oil Demand Shrinking Pouring cold water on yesterday’s optimistic demand forecast projected by OPEC, which projected global crude demand growth to rise by 1.5mm b/d in 2018, this morning the International Energy Agency warned that the crude oil price rally could be short-lived because, contrary to […]
OPEC Reports 151Kbpd Drop In October Crude Output; Raises Demand Forecast For 2018
OPEC Reports 151Kbpd Drop In October Crude Output; Raises Demand Forecast For 2018 True to its perpetually optimistic form, OPEC, which only last week for the first time conceded the threat posed by rising US shale production… … sharply raised its demand forecast for cartel oil in 2018, ahead of a key meeting of the […]
The Changing Geopolitics of Energy
The Changing Geopolitics of Energy In 2008, US policymakers worried that increasing dependence on energy imports, together with rising prices, would severely constrain American geopolitical influence. Instead, the revolution in shale energy has brought about a tectonic shift in international relations, one that promises to boost US global power in the long term. TOKYO – […]
China Takes Aim At The Petrodollar
China Takes Aim At The Petrodollar China continues to pursue its ambitious plan to make its currency—the yuan—more international. The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for their oil. China is now trying […]
OPEC Boosts Oil Demand Estimates, Admits Oil Prices Can’t Rise Above $55
OPEC Boosts Oil Demand Estimates, Admits Oil Prices Can’t Rise Above $55 In its latest OPEC Monthly Oil Market Report (October) the oil cartel has increased its oil demand estimates for 2017, 2018 on strengthening world economy, and weaker outlook for supplies from its rivals. Specifically, OPEC forecasts that based on the current global oil […]
Russia And China Continue To Boost Oil Ties
Russia And China Continue To Boost Oil Ties Even before the OPEC/non-OPEC production cuts took effect in January 2017, Russia had already beaten Saudi Arabia to become China’s single largest oil supplier for 2016. Since then, Saudi Arabia has sacrificed still more of its market share in the prized Chinese market, while Russia has dominated […]
The Geopolitical Consequences Of U.S. Oil Exports
The Geopolitical Consequences Of U.S. Oil Exports Two crucial things happened yesterday. The first you may have noticed – oil prices moved back up. As for the second, most so-called “experts” seemed to have missed. See, the environment we’re seeing in energy markets is very different from what we saw only a week ago, when […]
Oil Prices Steady, But $80 Oil Is Coming, Says Analyst
Oil Prices Steady, But $80 Oil Is Coming, Says Analyst Oil prices were basically flat early on Wednesday, but $80 oil could be just around the corner, according to analyst Jodie Gunzberg, head of commodity and real asset indices at S&P Dow Jones Indices in a CNBC interview on Wednesday. While prices are holding just […]
Citi: An Oil Supply Squeeze Is Inevitable
Citi: An Oil Supply Squeeze Is Inevitable It’s somewhat tradition for oil analysts to produce a flurry of new forecasts after every sharp move in prices, and the latest rally in WTI and Brent is no exception. In just the last couple of days we’ve seen one analyst predict prices of $80 per barrel, while […]
