Saudi Arabia and Russia are putting pressure on OPEC scofflaws threatening not to have a June 5 meeting to talk about production cut
A potential extension of the OPEC+ production cuts, as well as recovering oil demand, sent Brent crude back above $40.00 for the first time since the Russia-Saudi Arabia production war broke out.
Oil prices are on the rise again as it appears that OPEC and Russia are poised to extend production cuts.
Tension surrounds the globe with riots in major U.S. cities and increasing strain between the U.S. and China. Despite this turmoil, energy markets are holding better than one might expect.
Demand is rising, and production is falling, but China might be the fly in the oil market ointment. Oil prices are giving back their demand growth inspired gains as the market is concerned about rising tensions between the U.S. and China
The oil price comeback is in jeopardy after it appeared that Russia was waffling on extending oil production cuts past June or maybe they agreed to increase cuts with Saudi Arabia.
The Covid-19 pandemic has set in motion the most significant drop in global energy investment in history, with spending expected to plunge in every significant sector this year
The crude oil market is having its best month percentage wise in history as we start to unlock the global economy.
The tendency of the oil market to correct and top often happens ahead of holiday weekends. Still, this market deserves to correct.
What happened to the WTI futures contract’s June swoon? After oil prices crashed on the May contract expiration, the clearing firms and exchanges were all ready for a repeat subzero performance.