Oil in Global Economy Series: Oil price steady ahead of OPEC/N-OPEC review meeting
Jul 24, 2017 06:35 am UTC| Commentary
The North American benchmark WTI is up 0.2 percent in Asian trading hours after a big selloffs in the previous session last week. The oil market is calm ahead of the OPEC/N-OPEC review meeting. There are some expectations...
Oil in Global Economy Series: Key factors at play in oil market
Jul 20, 2017 08:23 am UTC| Commentary
The North American benchmark WTI and the North Sea benchmark Brent have continued to push higher despite bearish news hitting the market and inventories remaining higher than anticipated. WTI crude is currently trading at...
Oil in Global Economy Series: Cracks emerge within OPEC as Ecuador shies away from production deal
Jul 19, 2017 08:45 am UTC| Commentary
This months oil market report from the OPEC has not only shown that the production in June increased by 393,000 barrels per day after an increase of 336,000 barrels in May, it showed that for the first time since the...
Jul 19, 2017 07:45 am UTC| Commentary
While the oil market is taking a much longer time to balance this time around, despite a production cut in the tune of 1.76 million barrels per day, Kuwaiti oil minister Essam al-Marzouq remains confident that the market...
Oil in Global Economy Series: US operating rigs rise again for 25 times in 26 weeks
Jul 17, 2017 07:37 am UTC| Commentary
After the numbers of operating oil rigs declined in the last to last week, the operating oil rigs posted a rise for the 25th time in last 26 weeks. The increasing numbers of operating rigs, as well as increasing...
Oil in Global Economy Series: OPEC June deal compliance review
Jul 13, 2017 09:19 am UTC| Commentary
In November last year, when OPEC members agreed to cut production for the first time since the Great Recession, it was welcomed with great optimism and oil price jumped more than 20 percent, from $45 per barrel to as high...
Oil in Global Economy Series: A very bullish ‘if’ scenario for oil
Jul 11, 2017 11:00 am UTC| Commentary
Since OPEC members and participating non-OPEC countries concluded an agreement in May to continue the supply reduction deal of 1.76 million barrels per day for another nine months until March 2018, the price of oil has...
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