Crude Oil

Crude Oil , Trade , International

Oil Prices Hit One-month High as IEA, OPEC Raise Forecasts

Supply discipline and rebounding economies are set to give oil a chance to break out of the recent range, Goldman Sachs analysts said in a report.

April 15, 2021

Crude Oil

IEA Ups Oil Demand Forecast as Vaccinations Brighten Outlook

The IEA predicted global oil demand and supply were set to re-balance in the second half of the year and that producers may then need to pump 2 million bbl/d more to meet the expected demand.

April 14, 2021

Crude Oil , Trade , International

OPEC Raises Oil Demand Growth Forecast on Hope Pandemic Wanes

The upward revision marks a change of tone from previous months, in which OPEC has lowered oil demand forecasts because of continued lockdowns.

April 13, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (April 12, 2021)

In its latest oil price forecast, Stratas Advisors explores whether oil prices will rebound in the second quarter or continue on the downward trend of the last several weeks.

April 12, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (April 5, 2021)

The week of unchanged prices came with the announcement of oil production increases from OPEC+ among other developments, says Stratas Advisors in its latest oil price forecast.

April 5, 2021

Crude Oil , Trade , International

OPEC+ to Gradually Ease Oil Output Cuts from May

A few days before the April 1 meeting, OPEC+ delegates had said the group would likely keep most existing oil output cuts in place. But in the 24 hours before the meeting started, sources said discussions had shifted to a possible output increase.

April 1, 2021

Crude Oil , Trade , International

US Energy Secretary Jennifer Granholm Calls Saudi Energy Minister Ahead of OPEC Meeting

The call by U.S. Energy Secretary Jennifer Granholm was the first call to Saudi Arabia from a U.S. official ahead of an OPEC meeting since U.S. President Joe Biden took office.

April 1, 2021

Crude Oil

Oil Price Structures Show Market Balance in Second-half 2021

Brent's front month spread is back in contango, a situation where the futures price of a commodity is higher than the spot price. This structure of the market encourages storage of oil.

March 31, 2021

Crude Oil , Trade , International

OPEC+ Lowers Oil Demand Growth Forecast Ahead of Meeting

The Joint Technical Committee of OPEC+, which advises the group of oil-producing nations that includes Saudi Arabia and Russia, met on March 30 ahead of a ministerial meeting on April 1 to decide output policy.

March 31, 2021

Crude Oil , Trade , International

China’s Iran Oil Imports Seen Hitting New High in March

Imports of Iranian oil skirt US sanctions.

March 30, 2021