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Tag: oil prices


Commercialization, Conventional Fuels

Oil prices just had their best quarter in 30 years — what’s next?

July 1, 2020

Via: CNBC energy

Oil prices registered their best quarterly performance in 30 years during the three months through to the end of June, staging a dramatic comeback after falling to record lows in April. Brent crude futures skyrocketed more than 80% in the […]


Chemical, Conventional Fuels

How Russian And Saudi Oil Ties To China Complicate The Post-Pandemic World

June 24, 2020

Via: Forbes

Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of […]


Commercialization, Conventional Fuels

Oil Rally Held Back By High Inventories, Coronavirus Fears

June 23, 2020

Via: Forbes

U.S. benchmark West Texas Intermediate (WTI) is over $40 a barrel, a price level it has struggled to surpass in the past. The uptick is the result of investor enthusiasm over the fact that global oil supply is still under […]


Chemical, Conventional Fuels

World Oil Reserves Suddenly Downgraded By 292 Barrels! Yawn.

June 19, 2020

Via: Forbes

This week, Rystad Energy announced the eye-popping finding that the world’s estimate of oil supplies had suddenly shrunk by 292 billion barrels. Needless to say, the announcement caused eyes to pop, as did the headline’s statement heralding the early onset […]


Commercialization, Conventional Fuels

Is Another Oil Price Spike Likely?

June 12, 2020

Via: Forbes

The crash in oil prices and collapse in drilling (especially in the U.S. shale sector) has caused many observers to warn that insufficient investment will lead to another supply shortfall and price spike. This is certainly possible but fears that […]


Commercialization, Conventional Fuels

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

June 9, 2020

Via: CNBC energy

Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July. “With oil now […]


Commercialization, Conventional Fuels

Oil rally and Saudi price spikes could hurt refiners, stifling market recovery

June 8, 2020

Via: CNBC energy

Oil prices pared gains on Monday, despite the weekend announcement by OPEC and its allies, known as OPEC+, that historic production cuts of 9.6 million barrels per day across the group would continue through July as the coronavirus pandemic continues […]


Chemical, Conventional Fuels, News and Policies, World

Saudi Arabia and Russia push for an extension to output cuts, with OPEC+ meeting this week still possible

June 4, 2020

Via: CNBC energy

Some of the world’s most powerful oil producers had been expected to convene on Thursday, with energy market participants closely monitoring whether the influential group will officially agree to extend their deepest ever round of output cuts. OPEC kingpin Saudi […]


Commercialization, Conventional Fuels

The Oil Price Collapse Is Already Over

June 3, 2020

Via: Forbes

Well, that was brief. The collapse in the global oil price at the start of the Coronavirus crisis got many headlines, but its rapid increase as the recovery phase begins has not attracted so much attention. Data revealed yesterday shows […]


Commercialization, Conventional Fuels

Oil is on track for its best month ever

May 29, 2020

Via: CNBC energy

Oil came under pressure on Friday, the last trading day of month, but it’s still on pace to post its best month in history as an uptick in demand as well as record supply cuts have pushed prices higher. West […]


Commercialization, Conventional Fuels

Here’s What’s Moving Oil Prices

May 28, 2020

Via: Forbes

After an enormous rally, oil prices have started to ease off today. The West Texas crude oil’s July contract crossed above $34 per barrel on Tuesday this week, which left many traders scratching their heads. There is no doubt that […]


Commercialization, Conventional Fuels

Oil jumps 12% to $33 as June futures contract nears expiration

May 18, 2020

Via: CNBC energy

West Texas Intermediate for June delivery jumped more than 12% on Monday to a two-month high, one day ahead of the contract’s expiration, as production cuts and the easing of stay-at-home restrictions supported prices. “Producers are significantly throttling back output […]


Commercialization, Conventional Fuels, News and Policies, World

Saudi Arabia says it will cut oil production by an additional 1 million barrels per day

May 11, 2020

Via: CNBC energy

Oil prices jumped to their highs of the day after Saudi Arabia said it will cut production further in an effort to support global oil markets. Beginning on June 1 the Kingdom will cut output by an additional 1 million […]


Commercialization, Conventional Fuels

Oil prices rise, on pace for more than 25% gain this week

May 7, 2020

Via: CNBC energy

Oil jumped on Thursday and was on track for one of its best weeks in history as a number of bullish factors supported prices, including U.S. companies cutting production, Saudi Arabia raising its official oil selling price and gasoline demand […]


Commercialization, Conventional Fuels

Oil turns lower, snapping five-day winning streak as oversupply fears weigh

May 6, 2020

Via: CNBC energy

Oil prices dropped on Wednesday, snapping a five-session winning streak, as oversupply concerns outweighed optimism over economies reopening. West Texas Intermediate, the U.S. benchmark, shed 5.7%, or $1.40, to trade at $23.16 per barrel. In a volatile session, the contract […]