Oil in Global Economy Series: Key factors to watch out in 2017
Jan 03, 2017 11:37 am UTC| Commentary
While 2016 was the year of the OPEC for theoil market, there are several factors beyond OPEC which would have aprofound impact on the oil market and the oil price. Below are the key factors that would be decisive- US...
Oil in Global Economy Series: Key developments in Libya
Jan 03, 2017 10:13 am UTC| Commentary
Two countries, Libya and Nigeria have been exempted from the OPEC oil deal, which would see the production from the cartel decline by 1.2 million barrels per day beginning this month. So, it is important to watch the...
Oil in Global Economy Series: Will US SPR sale impact crude price in 2017?
Jan 03, 2017 09:26 am UTC| Commentary
In late December, United States Department of Energy (DOE) announced that it would start selling crude oil from the Strategic Petroleum Reserve (SPR) in 2017 as directed by the laws passed by congress. The sale of oil...
Oil in Global Economy Series: Two factors suppressing oil price post OPEC deal
Jan 03, 2017 08:49 am UTC| Commentary
The North American oil benchmark, WTI rallied around 19 percent since the members of the OPEC sealed a production cut deal on November 30th. However, for some of the members of the OPEC, the current $54 per barrel oil...
Oil in Global Economy Series: Can shale be a rally spoiler?
Jan 03, 2017 06:59 am UTC| Commentary
With an OPEC deal, as well as an N-OPEC deal were done in late 2016, many expect a major rebound in oil prices in 2017, when the actual production cuts trigger in. According to the deals, members of OPEC and N-OPEC...
China cuts oil products export quotas by 40 pct in first round of 2017 licences
Dec 29, 2016 16:40 pm UTC| Commentary
China has cut oil product export quotas to the nations four oil majors by 40% in the first round of licences for 2017, Reuters quotes sources as saying. The slashing of quotas doesnt reflect shrinking overseas demand but...
Optimistic that 2017 will see recovery of oil markets: Saudi's EnergyMin Al-Falih
Dec 27, 2016 14:33 pm UTC| Commentary
Saudi Arabian energy minster Al-Falih in an interview with Al Arabiya television on Tuesday said that 2017 will see a recovery of oil markets. Falih said that he was very optimistic that next year will see economic...
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