Showing results for "homaidan al-turki"

Saudi minister’s bullish comment, supported by the allies tightened markets

  • 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. The minister  suggested that OPEC Plus is willing to make explore various mechanisms including new production cuts to restore connectio...
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Oil market is due for correction but volatility reigns

  • 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. Recent industria...
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Markets stay volatile even as deficit concerns support current prices

  • 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. However, prices recovered considering International Energy Agency’s latest market outlook. It forecast an upwa...
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Global oil prices dip on weakening market sentiment

  • 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. Despite the OPEC+ recent decision to increase production for September by only 100,000 barrels per day, crude oi...
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Oil market shift to be marginally less tight

  • 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. However, from September onward, the market will show length return...
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Factors that may cast a long shadow on the oil market

  • 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. The price level is still high; however, the fall was due to various factors. First, the bearish sentiment on equity markets amid increasing concern of a global econo...
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The oil market is not only looking at Biden’s visit to Saudi Arabia

  • US president Biden’s visit to Riyadh has ended successfully on all fronts, with various agreements signed and sealed. As a general impression in the market, Saudis seem to have come out of the visit more successful, and established the forward vision for the Kingdom’s future international role...
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Energy markets are witnessing a tug of war on the demand-supply side

  • 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. The financial markets witnessed strong selling pressures fueled by growing global growth concerns which could negatively imp...
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Crude prices stay on course with 2022 macro environment

  • 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. It means that the market i...
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All eyes on Biden’s Riyadh visit amid oil market uncertainty

  • 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. While writing this article, the oil market remains uncertain, volatile and faced with several challenges ...
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