On August 22, the Saudi Energy Minister Prince Abdulaziz bin Salman hinted at a production cut as soon as the September 5 OPEC Plus ministerial meeting.
August 28, 2022
The weakening global economic outlook continued to weigh on market sentiment. In contrast, the supply outlook improved on the prospect of higher supply in the coming months, even as signs of disappointing Chinese economic activity and economic weakness clouded much of Europe.
August 21, 2022
Crude oil prices fell driven by weaker-than-expected Chinese manufacturing data, a rebound in Libyan production to 1.2 million barrels per day and further bearish macroeconomic news.
August 14, 2022
A high commodity price environment over the last quarter, coupled with operators remaining disciplined with their spending, has resulted in massive profits for major oil producers.
August 07, 2022
Oil market sentiment shifted from a focus on supply concerns to fears of a global recession resulting in a sharp sell-off.
Despite the sell-off, physical crude markets have remained tight and will likely remain so in August.
July 31, 2022
Brent prices averaged $124 per barrel in June 2022 but came down to an average of $113 per barrel, a decline of $11 per barrel.
July 25, 2022
US president Biden’s visit to Riyadh has ended successfully on all fronts, with various agreements signed and sealed.
July 17, 2022
Oil prices fell last week amid concerns over macroeconomic developments and lingering fears of a potential global economic slowdown that could reduce demand for energy.
July 11, 2022
Crude oil prices have been running between $100 and $130 a barrel amid concerns around the political uprising in Eastern Europe.
The market puts the premium for war at $30 a barrel, which means a price range between $70 and $100 a barrel reflects the fundamentals.
July 03, 2022
All eyes are on US President Joe Biden’s visit to the Middle East, as the movers and shakers in the oil market are waiting for the outcome of the visit and its likely impact on oil prices.
June 26, 2022