Key takeaways from the oil meeting in Algiers
Sep 28, 2016 11:38 am UTC| Commentary Economy
Today is the final day of the International Energy Agencys (IEA) biennial summit in Algeria, where OPEC members are meeting outside their regular closed-door ones to discuss the future of the oil market. It is now clear...
Addicted to oil: US gasoline consumption is higher than ever
Sep 26, 2016 07:02 am UTC| Insights & Views
August was the biggest month ever for U.S. gasoline consumption. Americans used a staggering 9.7 million barrels per day. Thats more than a gallon per day for every U.S. man, woman and child. The new peak comes as a...
API reports surplus while the market awaits EIA report
Sep 21, 2016 13:25 pm UTC| Commentary
The North American oil benchmark, WTI continues to struggle to gain grounds as supply still remains quite elevated. The global supply is down just 300,000 barrels per day from a year ago. The bigger drop in supply outside...
Oil in Global Economy Series: Re-analyzing recent price drivers
Sep 14, 2016 09:37 am UTC| Commentary
In this article, we would revisit and re-analyze the factors that have been very influential this year in driving crude oil prices. After a bottom in February around $27 per barrel, both the crude oil benchmarks rose...
Central bank decisions and political developments to impact oil markets - OPEC
Sep 12, 2016 22:09 pm UTC| Commentary
According to the latest September report, the 14-member oil producing cartel said central banks such as the U.S. Federal Reserve will be crucial in determining the state of global growth and the overall health of the...
Crude oil benchmarks buoyed by biggest inventory drawdown of this century
Sep 08, 2016 07:48 am UTC| Commentary
Both of the crude oil benchmarks found respite last night after data released from American petroleum Institute (API) showed the biggest inventory drawdown of the 21st century. Crude oil inventories declined by 12 million...
Sep 07, 2016 13:31 pm UTC| Commentary
WTI is struggling to make a directional move, being trapped by the force of both bulls and the bears. While the possibility of a production freeze agreement is providing support to crude benchmarks along with aweaker...
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