Showing results for "homaidan al-turki"

Return to pre-pandemic oil demand not likely until 2023

  • Global oil balances look tighter due to supply outages and stronger demand, pulled up in part by substitution for increasingly higher natural gas. However, fundamentals suggest a slowing and leveling off in inventories, ending the steep stock draw since mid-year and implying less support for ...
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Resurgence of COVID-19 in Europe, China dampens oil market sentiment

  • Brent traded below $79 a barrel on Friday amid rising uncertainty regarding oil supply and demand outlooks. Market sentiment cooled due to worries about demand destruction in Europe and China amid a resurgence in COVID-19 cases and a possible release of crude oil from the US Strategic Petroleum...
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Fears of new coronavirus variant weigh on oil prices

  • Brent prices averaged at $42 per barrel in November 2020, while in November 2021 at $83 per barrel, an increase of $41 a barrel. It indicates recovery in market fundamentals and demand. However, the price of a barrel of crude fell to $74 due to fears of new variants of the coronavirus reported ...
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Drawdown of oil inventories likely in next few weeks

  • The fall of crude prices after hitting over $80 per barrel to below $70 is seen not perceived as based on fundamentals but the downturn is driven by sentiment. The market remains uncertain mainly due to the unquantified risks from the omicron variant, and inflationary pressures. The situation...
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Reports about mild severity of omicron likely to support oil markets

  • Oil markets performed better in November with a barrel of crude at $82 as compared to December’s marginally weaker performance at $74 per barrel. Despite the difference, the price levels continue to stay firm and well supported remaining above $70 per barrel. The factors that are responsibl...
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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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The inventory versus geopolitical game in oil markets

  • At this early stage in the first quarter of 2022, the oil market outlook remains tight and prices are still recording high levels despite the general agreement that surplus will eventually develop. Crude oil prices remained firm, registering levels not seen in more than seven years as investor...
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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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Supply, demand dynamics point to well-supported oil market

  • Despite a volatile week, crude oil prices remained supported by a number of developments in both supply and demand. Slow recovery of oil production in the US Gulf Coast, field maintenance in the Caspian, and delayed output increases from other producers are all contributing to ...
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Global energy landscape amid crude supply, demand questions

  • Market levels are expected to remain at current levels, with medium sour grades seeing support from the heightened pace of buying. Crude oil eased early in the week as traders weighed the potential near-term oil demand impacts of rising coronavirus cases around the world amid concerns about the...
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