Ad
Goldman Sachs believes oil prices could hit $107 next year if Russia and Saudi Arabia maintain their production cuts. The bank does emphasize that $107 is not their base-case scenario as they don’t see OPEC+ pursuing prices well above $100. Persistent economic uncertainty and demand concerns continue to weigh on oil prices, but Brent crude…
September 7, 2023
McNally: “Oil prices are climbing a wall of doubt and skepticism,”. McNally: The Saudis are unlikely to reverse the cuts at $90 or $92 oil. Oil prices traded slightly lower on Monday as China’s economic recovery continued to disappoint while the U.S. dollar strengthened. By Charles Kennedy The oil market is in a bullish move…
August 14, 2023
By Charles Kennedy Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened. Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices – which were…
August 3, 2023
By Julianne Geiger Oil prices saw another rise on Tuesday morning on optimistic forecasts published by the International Monetary Fund (IMF). On Tuesday, the IMF raised its 2023 global growth estimates based on promising economic activity in Q1. For 2023, the IMF is now estimating a 3% GDP growth—up 0.2 percentage points from its forecast…
July 26, 2023
Oil prices are set to post a third consecutive weekly gain, with Brent nearing $81 and WTI changing hands for $76.41. Bullish sentiment is building in oil markets despite continued economic headwinds and the IEA reducing its oil demand growth forecast. Supply disruptions in Libya, Saudi Arabia’s production cut, and signs of lower Russian oil…
July 14, 2023
By Michael Kern Oil prices are set for a second consecutive weekly gain but the upside remains limited due to continued economic concerns. UAE: Latest Output Cuts Are Enough To Balance The Oil Market Friday, July 7th, 2023 Oil prices are set to end the week with a slight gain after the market eventually priced…
July 7, 2023
Uncertainty is rampant in oil markets, with traders struggling to balance economic uncertainty with continued supply cuts and the rising cost of capital. While Brent briefly jumped on the news of further cuts from Saudi Arabia and Russia, it was falling back in early trade on Wednesday. WTI diverged from Brent in early trade on…
July 5, 2023
Oil prices continued to decline on Friday, with WTI falling below $69 and Brent below $73.50. Concerns of a global economic slowdown are weighing on oil prices, particularly after Jerome Powell suggested more interest rate hikes were coming. Despite concerns of an economic slowdown, fuel demand in the U.S. is on the rise while some…
June 23, 2023
By Michael Kern Nigeria’s revenues from LNG exports declined in the first quarter of 2023 to the lowest in five quarters, due to security challenges and declining associated natural gas production at oilfields, Nigerian media reported on Monday, quoting government data and industry experts. Between January and March this year, Nigeria’s earnings from liquefied natural…
June 13, 2023
Advert
Ad
Goldman Sachs believes oil prices could hit $107 next year if Russia and Saudi Arabia maintain their production cuts. The bank does emphasize that $107 is not their base-case scenario as they don’t see OPEC+ pursuing prices well above $100. Persistent economic uncertainty and demand concerns continue to weigh on oil prices, but Brent crude…
September 7, 2023
McNally: “Oil prices are climbing a wall of doubt and skepticism,”. McNally: The Saudis are unlikely to reverse the cuts at $90 or $92 oil. Oil prices traded slightly lower on Monday as China’s economic recovery continued to disappoint while the U.S. dollar strengthened. By Charles Kennedy The oil market is in a bullish move…
August 14, 2023
By Charles Kennedy Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened. Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices – which were…
August 3, 2023
By Julianne Geiger Oil prices saw another rise on Tuesday morning on optimistic forecasts published by the International Monetary Fund (IMF). On Tuesday, the IMF raised its 2023 global growth estimates based on promising economic activity in Q1. For 2023, the IMF is now estimating a 3% GDP growth—up 0.2 percentage points from its forecast…
July 26, 2023
Oil prices are set to post a third consecutive weekly gain, with Brent nearing $81 and WTI changing hands for $76.41. Bullish sentiment is building in oil markets despite continued economic headwinds and the IEA reducing its oil demand growth forecast. Supply disruptions in Libya, Saudi Arabia’s production cut, and signs of lower Russian oil…
July 14, 2023
By Michael Kern Oil prices are set for a second consecutive weekly gain but the upside remains limited due to continued economic concerns. UAE: Latest Output Cuts Are Enough To Balance The Oil Market Friday, July 7th, 2023 Oil prices are set to end the week with a slight gain after the market eventually priced…
July 7, 2023
Uncertainty is rampant in oil markets, with traders struggling to balance economic uncertainty with continued supply cuts and the rising cost of capital. While Brent briefly jumped on the news of further cuts from Saudi Arabia and Russia, it was falling back in early trade on Wednesday. WTI diverged from Brent in early trade on…
July 5, 2023
Oil prices continued to decline on Friday, with WTI falling below $69 and Brent below $73.50. Concerns of a global economic slowdown are weighing on oil prices, particularly after Jerome Powell suggested more interest rate hikes were coming. Despite concerns of an economic slowdown, fuel demand in the U.S. is on the rise while some…
June 23, 2023
By Michael Kern Nigeria’s revenues from LNG exports declined in the first quarter of 2023 to the lowest in five quarters, due to security challenges and declining associated natural gas production at oilfields, Nigerian media reported on Monday, quoting government data and industry experts. Between January and March this year, Nigeria’s earnings from liquefied natural…
June 13, 2023
