Despite pleading with oil and gas companies to increase production in recent months, to tackle global shortages and rising prices, President Biden is once again hitting the industry hard by proposing a bigger cut emissions in operations. And he’s not alone, as the UK and EU seek to reduce gas flaring and venting practices to …
More restrictions on Biden’s oil and gas are on the horizon | OilPrice.com Read More »
The benchmark U.S. February WTI crude oil futures index closed lower for a fifth consecutive session on Thursday, completing a lower close for the week. The market was higher earlier in the day following the closure of a major crude oil pipeline between Canada and the United States. However, those gains were erased as traders …
Sentiment In Oil Markets Is Decidedly Bearish | OilPrice.com Read More »
WTI and Brent crude oil prices fell for a third straight session on Tuesday, with the US benchmark now at its lowest level in a year. First-month Nymex crude for January delivery closed the day -3.5% at $74.25/bbl, its lowest level in nearly a year, while February Brent crude ended at – 4% to $79.35/bbl, …
Oil markets are bearish but the decline is limited | OilPrice.com Read More »
Crude prices fell significantly at the start of the week despite robust US economic data coupled with strong employment numbers and a positive industrial PMI. Chart of the week Late and lax, oil price cap fails to impress markets – Oil prices are in freefall this week, with WTI returning to levels just above $75 …
Oil falls as markets fear further action from the US Fed | OilPrice.com Read More »
Since the late 1990s, China has been the big beast in global oil markets, driving demand for the oil and other commodities it used to fuel double-digit economic growth every year for many years. then high single-digit growth for years. . As recently as 2017, China’s high economic growth rate still allowed it to overtake …
Lower oil prices on horizon as China enters next phase of Covid crisis | OilPrice.com Read More »
The next few days will be one of the most crucial for the oil market in weeks, as several events and factors at the same time could determine the price trend by the end of this year and beyond. As China’s zero-Covid policy and protests against it weigh negatively on market sentiment, the OPEC+ meeting …
Next week will be critical for oil markets | OilPrice.com Read More »
The European Union again on Friday failed to reach an agreement over a cap on Russian oil prices, with the bloc’s easternmost members, including Poland, Estonia, Latvia and Lithuania, objecting that the proposed price of $60-70 a barrel for Russian crude is too generous and way above the rates that Russia currently sells crude. European …
China and India buy Russian crude at a 40% discount | OilPrice.com Read More »
The European Union again on Friday failed to reach an agreement over a cap on Russian oil prices, with the bloc’s easternmost members, including Poland, Estonia, Latvia and Lithuania, objecting that the proposed price of $60-70 a barrel for Russian crude is too generous and way above the rates that Russia currently sells crude. European …
China and India buy Russian crude at a 40% discount | OilPrice.com Read More »
High prices appear to have started to weigh on diesel demand in the United States, where inventories of distillates – made up of diesel and fuel oil – have slowly increased in recent weeks. U.S. distillate inventories are still below the five-year average, but the gap in inventories from previous years has slowly begun to …
The diesel crisis finally causes the destruction of demand | OilPrice.com Read More »
A combination of rising Covid infections in China, uncertainty over the G7 oil price ceiling and a rise in oil inventories in the United States has driven oil prices lower this week. As oil prices climbed early Friday morning, the rise in bearish sentiment is palpable. Friday, November 25, 2022 With the oil price cap …
Bearish Sentiment Strengthens Once Again in Oil Markets | OilPrice.com Read More »
