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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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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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Oil in 2022: Supply to exceed demand; surplus likely to build 

  • 2021 was a good year for all and the OPEC+ managed markets well to maintain a balance and oil inventories low. The scene in 2022 will be driven by several factors such as COVID-19 and its variants’ impact on demand and economy, falling OPEC+ spare capacity, and some countries inability to meet...
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Energy crunch adds to crude demand

  • Crude oil markets continue to hold with fundamentals and remain well supported as they await the OPEC+ ministerial meeting that will begin on Oct. 4. Global oil markets are likely to remain tight enough over the next few months to hold Brent crude oil prices above $70 a barrel, despite the gr...
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Oil prices in 2022 might not reach the high levels of last year

  • The year 2021 witnessed an upward shift in the price of oil globally, reversing the falls of previous years. After trading at around $85 per barrel in late October, Brent oil fell sharply in November to $69 per barrel by early December. It rebounded thereafter and is currently trading in the ...
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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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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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Supply concerns remain the wild card supporting energy prices

  • Strongly supported by supply tightness and geopolitical developments caused by changing dynamics, Brent Crude oil remained above $90 per barrel. Even though the number of confirmed coronavirus disease (COVID-19) cases continues to rise globally, the omicron variant appears to be waning in man...
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