Crude Oil

Crude Oil

Oil Rally Stalls on Signs of More Supply, Demand Doubts

Oil slipped from seven-month highs on Nov. 26 as signs of growing supplies helped to halt a rally driven by optimism that COVID-19 vaccines will revive fuel demand.

November 26, 2020

Crude Oil

OPEC+ Leaning towards Oil Cut Extension, Despite Rally

OPEC and allies including Russia are leaning towards delaying next year’s planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, three sources close to OPEC+ said.

November 25, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 23, 2020)

The world witnessed the long-waited announcements related to successful trial results of several vaccines, which are the preliminary requisite for quick regulatory approvals that will then translate into mass production and distribution. 

November 23, 2020

Crude Oil

Oil Prices Rise on COVID-19 Vaccine News

Traders also expect OPEC+ to extend it deal to control production.

November 23, 2020

Crude Oil , Policy & Regulations , Shale Plays , Technology

Roundtable: Vaccine, Digitalization and Energy Transition to Drive Oil Markets in 2021

Analysts from the U.S., Europe and the Middle East joined Hart Energy to discuss the 2021 oil and gas market outlook.

November 23, 2020

Crude Oil , Midstream

China’s Oil Buying Binge to Continue in 2021

 Tank operators and refiners are expected to keep stocking up.

November 18, 2020

Crude Oil

Equinor Sees Oil Demand Peaking Two to Three Years Sooner Due to Virus

Oil firm Equinor expects global oil demand to peak by around 2027-2028, two-three years earlier than the company previously saw, as a result of the COVID-19 pandemic, it said on Nov. 17.

November 17, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 16, 2020)

There are three additional variables which oil markets are not used to deal with in the fourth quarter: the current infections uptick in Europe, the U.S. presidential transition and announcements about new vaccines, all of them adding bearish or bullish pressure to prices over the next few months.

November 16, 2020

Crude Oil , International

Oil Jumps 4% on Latest COVID-19 Vaccine Progress

WTI nears $42/bbl on news that two vaccines are in the pipeline.

November 16, 2020

Crude Oil , Trade , International

Iran Says Exports Hit 700,000 Barrels Per Day of Oil, Later Denies

An Iranian official said on Nov. 11 that Tehran exported up to 700,000 bbl/d of oil since March, but was later quoted by an Iranian news agency casting doubt on the figure which had been kept secret.

November 13, 2020