Oil prices ticked higher by approximately 1% on Wednesday, rebounding from a five-month low in the previous session, driven by a notably larger-than-expected withdrawal from U.S. crude storage. Brent Futures Gain 78 Cents Amid US Storage Withdrawal. US Storage Withdrawal […]
US Storage Withdrawal Sparks 1% Surge in Oil Prices Read More ยป
In the monumental landscape of Permian oil, the year 2023 echoed with the chant of “Mega-Mergers Propel Deals.” This echoed refrain, repeated tenfold, marked an extraordinary surge in mergers and acquisitions, catapulting the total transaction value beyond a historic $100
Mega-Mergers Propel Deals Beyond $100 Billion in 2023 Read More ยป
Saudi Arabia’s Oil Pricing may have been set too high, potentially leading to a decrease in term supplies to Asian buyers in January. Traders and refiners informed Bloomberg on Wednesday that the world’s leading crude exporter had implemented a smaller-than-expected
Saudi Arabia’s Oil Pricing Strategy Faces Criticism. Read More ยป
The impact of the most recent round of production curbs proposed by OPEC+ members continued to be partially negated as oil prices traded slightly lower early on Tuesday. On the New York Mercantile Exchange, the price of West Texas Intermediate
Oil prices drop on recession concerns after OPEC+ cuts boost. Read More ยป
According to ship-tracking data compiled by Bloomberg on Monday, Ghana has just received its first cargo of Russian crude in at least four years after an oil tanker that had been waiting for permission to dock for six weeks was
Russian crude cargo unloaded in Ghana after 6-week wait. Read More ยป
ADVANCES MOVERS After Saudi Arabia and its OPEC+ allies unexpectedly announced a round of production cuts last weekend, oil futures remained close to unchanged early Thursday, staying on pace to conclude a holiday-shortened week with strong gains. Most American markets
Oil set for 3rd weekly gain after OPEC+ cuts. Read More ยป
Morgan Stanley has revised its oil price forecast for this year and next, considering the recent OPEC+ decision to cut production. Martijn Rats, chief commodity strategist at the bank, views the move as an indication that demand may not be
Morgan Stanley Cuts Oil Price Forecast After OPEC+ Move. Read More ยป
According to analysts and traders, unexpected new cuts to the OPEC+ group’s output targets could drive oil prices towards $100 per barrel and set the stage for yet another conflict with the West struggling with rising interest rates. The choice
OPEC+ cuts revive $100/barrel oil potential. Read More ยป
Oil exports from Kurdistan may be halted for a few more days even though Kurdish representatives are scheduled to meet with Baghdad officials again the following week to discuss the possibility of restarting crude shipments from Kurdistan via a pipeline
Kurdistan’s Oil Exports May Remain Shut for Another Week. Read More ยป
West Texas Intermediate reached $74 while Brent oil traded above $79 per barrel. Both metrics increased to their greatest point in the past two weeks. Supply concerns and resurgent demand from China as the country emerges from pandemic lockdowns are
Oil prices up on Kurdish supply dispute and US inventory data. Read More ยป
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