The Energy Information Administration offered jittery oil markets respite today by reporting a draw of 4.7 million barrels in U.S. commercial oil inventories. The report comes just one day after the.. OilPrice.com
Late on Monday the oil world was shocked to learn that Ecuador planned on exceeding its OPEC production quota, publicly breaking from the supply cuts agreed to in November 2016 and extended in May.. OilPrice.com
Jul.12 -- Steven DeSanctis, equity strategist at Jefferies, and Stewart Warther, U.S. equity and derivatives strategist at BNP Paribas, discuss energy market reaction to OPEC production cuts. They.. Source: Bloomberg Technology -
Jun.21 -- Kelvin Tay, regional chief investment officer for southern Asia-Pacific at UBS Wealth Management CIO Office, discusses the oversupply of oil and the outlook for further OPEC production cuts... Source: Bloomberg Technology -
Jun.13 -- Ayers Alliance Securities CIO Jonathan Barratt discusses his outlook for oil and talks about OPEC production cut compliance. He speaks on "Bloomberg Markets: Middle East." Source: Bloomberg Global Business -
This is what you need to know before the bell: Investors await Former FBI Director James Comey's testimony. Trump fired Comey last month who had been leading the FBI's Russia probe Britain begins the.. Source: The Street -
All data below is based on the latest OPEC Monthly Oil Market Report. All data is through June 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the.. OilPrice.com
A surge in the US oil shale industry has been one of the major contributors to the fall in oil prices this year.
In July alone, 2.4m barrels per day is expected to come from the US Permian basin.. City A.M.
Nigeria is ready to support OPEC’s cuts and limit its crude oil output when it reaches a stable 1.8 million bpd, Nigerian Oil Minister Emmanuel Kachikwu said on Wednesday. Nigeria and Libya—exempt.. OilPrice.com
Kazakhstan is standing by its commitment to stick to the OPEC/non-OPEC agreement for production cuts, Kazakhstan’s Energy Minister Kanat Bozumbayev said on Wednesday, reiterating the official Kazakh.. OilPrice.com
DUBAI (Reuters) - Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying.. Reuters
Crude oil prices lifted today despite coming under pressure as a number of banks slashed their price forecasts.
Global benchmark Brent crude dropped more than one per cent before recovering to.. City A.M.
High demand for air conditioning and fuel for road trips make summer the best time for the Organization of Petroleum Exporting Countries (OPEC) to cut production or exports to end or lessen the supply.. OilPrice.com
September Crude Oil Weekly Recap September U.S. West Texas Intermediate crude oil futures are currently in a position to finish lower for the week as investors react to a rise in U.S. production and.. OilPrice.com
Six months after the implementation of the OPEC production cut deal to reduce output by 1.2 million barrels per day, and we should be well on our way towards rebalancing - yet prices have recently.. OilPrice.com
Just a day after Russia’s Energy Minister Alexander Novak said that the OPEC/non-OPEC production cut pact was working and that there was no need to make immediate additional moves, an energy minister.. OilPrice.com
While the oil market is increasingly questioning if OPEC/non-OPEC’s production cuts have any effect, Russia’s Energy Minister Alexander Novak weighed in on Thursday, saying that the production cut.. OilPrice.com
Analysts and investors have been growing increasingly concerned that the OPEC-led production cuts would not be enough to bring the oil market back to balance, and now one investment bank, Morgan.. OilPrice.com
Asian crude buyers expect Saudi Arabia to raise its August official selling price (OSP) for the Arab Heavy crude that it sells to Asia to the highest in more than 3 years. A tighter market for heavy.. OilPrice.com
Crude oil booked a small loss today following a seven-day rally as rising production from members of the Organisation of the Petroleum Exporting Countries (Opec) weighs on prices.
Brent crude,.. City A.M.
Two events this week give us some insights on how to trade the oil markets and oil stocks for the next few weeks. First, there’s been a tremendous financial move in the oil futures market. Most.. OilPrice.com
While all eyes are riveted on how much U.S. shale output is undermining OPEC’s production cuts and any oil price gains, other non-OPEC producers are also increasing crude production, and most.. OilPrice.com
It looks like Libya is right on track to reach its goal to raise crude output to 1 million bpd by the end of July, in what would be a boon for its crippled oil production and a headache for fellow OPEC.. OilPrice.com
Just a month has passed since OPEC rolled over the production cuts, but the still high inventories and the latest drop in oil prices have renewed comments, rumors, and possibly hope, that the cartel.. OilPrice.com