First, it was pirates; now it is Houthis.
Almost 10 years ago, the oil market was shocked by the news that a Saudi oil tanker, Sirius Star, was hijacked by Somali pirates.
July 26, 2018
It’s no surprise to see US politicians in an open confrontation with the Organization of Petroleum Exporting Countries (OPEC).
July 22, 2018
July 11, 2008 was an unforgettable day for the oil industry. The price of West Texas Intermediate — a grade of crude oil used as a benchmark in oil pricing — hit an all-time high of $147 per barrel in New York.
July 15, 2018
President Donald Trump’s move to pressure OPEC to increase production is not the optimal solution to cool down higher oil prices.
That is because there is no single country or group that can carry the burden of balancing the oil market alone these days.
July 01, 2018
Many in the oil market believe that the next OPEC gathering on Friday will be another difficult meeting for the bloc.
Such a reading doesn’t go far enough, however; if member states fail to agree on production increases, it could be a dangerous meeting.
June 20, 2018
OPEC had been planning to keep oil supply cuts in place until the end of 2018, but political pressure to increase output is mounting, leaving ministers with one question to ask at their meeting on June 22: By how much should OPEC increase?
June 08, 2018
The oil market has had an impressive run since the start of the year. But as we approach the mid point of 2018, it is hard to know if the current bull run will continue.
May 20, 2018
It seems clear that all producers will benefit from rising prices following the decision of US president Donald Trump this week to impose sanctions on Iranian oil exports within 180 days. Conversely, it would be reasonable to expect that consuming nations will suffer from high oil prices.
May 10, 2018