Goldman Sachs raises its oil price outlook for Q2 2017, but warns dollar strength could limit the near-term upside for oil prices. The bank lifted its oil price outlook for the quarter to $57.50/bbl from […]
Oil prices have jumped 5% to over $54/bbl after OPEC and non-OPEC producers signed their first deal to cut output since 2001. Led by Russia, non-OPEC nations agreed to reduce production by 558K barrels per […]
Oil rose around 6% yesterday, its best one day performance since April, on renewed hopes of an OPEC deal to cut production. But prices are now dipping lower after the IEA left its supply and […]
Stocks continue to rise as US crude storage levels drop and the price of oil increases to its highest point since July 2015. “Maybe the market is just not as bad as we thought it […]
Saudi Arabia and Iran have dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources within the exporter group said differences between the kingdom and Tehran remained too […]
Oil prices are trading lower amid fears of oversupply in the crude market. According to Venezuela’s energy minister, global supplies will have to come down by around 10% from a current 94M bpd for output […]
Inflation data that might encourage an interest-rate increase this year from the Federal Reserve pushed stocks lower in early trading today, with financial and energy stocks leading the drop. All three major indexes were lower […]
Top oil producers Saudi Arabia and Russia made a joint statement at the G-20 summit in China on Monday aimed at stabilizing crude prices, media reports said. Russia and Saudi Arabia recognize the need to contain […]
Iraq, OPEC’s second-largest oil producer, plans to boost exports 5%, or 150,000 barrels a day, in the next few days following a deal to restart shipments from three fields in Kirkuk. Exports were suspended in […]
The price of Crude Oil is now within striking distance of $50 a barrel, putting the commodity nearly 22% above the $39.51 it touched on Aug. 2. Chatter about an OPEC production freeze makes for […]
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