The Saudi Government-funded think tank is studying the potential impact this move would have on the oil market. The Wall Street Journal has reported citing sources familiar with the matter at hand as saying, a top government-funded think tank in… Read More ›
Iran slammed U.S. arrange of ignoring 60 years of OPEC’s history by suggesting Saudi Arabia boost its oil production in order to make up for Iran’s shortfall. In a development that essentially sets the stage for a tough meeting at… Read More ›
OPEC and Russia have been withholding their respective crude oil production levels while oil producers from the U.S., Canada and Brazil have been boosting theirs. As a result of the production cuts, oil prices touched their multi-year high of $80.50… Read More ›
Soaring U.S. crude oil production has upended global oil markets since it comes at a time when Russia and OPEC have cut their production volumes in order to slim the glut in the global oil pool. On Tuesday, the International… Read More ›
Despite receiving support for its bullish upward drive, rising U.S. oil production is likely to be a drag for oil’d 2018 outlook. On Tuesday, oil prices posted their strongest ever opening since 2014, with the anti-government uprising in Iran along… Read More ›
U.S. oil production is rapidly approaching oil production levels of that of Russia and Saudi Arabia. With the shutdown of the Forties North Sea pipeline, a big chunk of the oil supply has been blocked from the market and along… Read More ›
According to industry analysts, the ongoing purge in Saudi Arabia is likely to have little immediate impact on oil prices since the Crown Prince is committed to maintaining a continuance to existing policies, including cutting down the glut in the… Read More ›
While OPEC’s price cuts are slowly driving up crude oil prices upwards, analysts from BofA Merrill Lynch have forecast higher crude oil prices for the remainder of 2017 and early 2018 citing rising geopolitical tensions between the U.S. and Iran…. Read More ›
If it weren’t for U.S. oil, crude oil prices should have touched $100 a barrel. As per a report from Barron’s, thanks to the heightened demand for oil, and reduced supplies from the Organization of the Petroleum Exporting Countries (OPEC),… Read More ›
With the ‘summer driving’ season set to officially kick off on Memorial Day holiday, U.S. crude futures are peaking. However the international benchmark Brent crude futures prices have largely remained unaffected by this localised event. With a strong start to… Read More ›
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