Crude Oil

Crude Oil , Trade , International

Goldman Says Reported OPEC+ Output Cuts Reinforce its Bullish Oil View

Despite one of the tightest markets in recorded history, Goldman said the reported OPEC+ cut could be justified by the 40% decline in prices from their June peak and enabled by the lack of supply elasticity, given slowing shale activity and exhausted spare capacity.

October 3, 2022

Crude Oil

What’s Affecting Oil Prices This Week? (Oct. 3, 2022)

Stratas Advisors are holding to their previous oil price forecast despite the expectation that OPEC+ will announce a reduction in supply of at least 1 million bbl/d.

October 3, 2022

Crude Oil , Trade , International

OPEC+ Mulls Largest Cuts Since 2020 Pandemic Crisis

"It may be as significant as the April 2020 meeting,” the source said, referring to when OPEC+ agreed record supply cuts of around 10 million bbl/d, or 10% of global supply, as the COVID-19 pandemic hit demand.

October 3, 2022

Crude Oil

Oil Prices Fall But Heads for Weekly Gain as OPEC+ Considers Output Cut

Both contracts rose by more than $1 earlier in the session but dropped on news that OPEC’s oil output rose in September to its highest since 2020, surpassing a pledged hike for the month, according to a Reuters survey on Sept. 30.

September 30, 2022

Crude Oil , Trade , International

OPEC Oil Output in September Hits Highest Since 2020: Survey

OPEC has pumped 29.81 million bbl/d of oil this month, the survey found, up 210,000 bbl/d from August and the highest since April 2020.

September 30, 2022

Crude Oil , Trade , International

Oil Prices Near $90 as OPEC+ Considers Output Cut

Leading members of OPEC+ have begun discussions about an oil output cut when they meet on Oct. 5, two sources from the producer group told Reuters.

September 29, 2022

Crude Oil , Policy & Regulations , Pipelines

Russia Says Nord Stream 'Sabotage' Likely to Be State-sponsored Act

"This looks like an act of terrorism, possibly on a state level," Russian Kremlin spokesman Dmitry Peskov said of the Nord Stream 1 and 2 pipeline leaks into the Baltic Sea.

September 29, 2022

Crude Oil , Transactions

France's TotalEnergies Plans to Spin Off Canadian Oil Sands Assets

TotalEnergies' Canadian oil sands assets will generate $1.5 billion of cash flow in 2022, according to CEO Patrick Pouyanne.

September 28, 2022

Crude Oil , Health, Safety & Environment

Oil Prices Stable as Soaring Dollar Offset by US Output Outages

Approximately 11% of U.S. Gulf of Mexico production has been shut-in due to Hurricane Ian.

September 28, 2022

Crude Oil

Goldman Cuts 2023 Oil Price Forecast Due to Weakening Demand Outlook

“While it may be surprising that oil is pricing such low growth expectations, this reflects the outsized exodus of investors, forced away by the extreme price volatility this spring,” Goldman Sachs said in a research note.

September 27, 2022