Post Tagged with: "oil supply"

Source: Reuters

Oil outlook for this year and next turning brighter: UBS

Reuters


UBS expects a pick-up in oil demand as virus-hit economies relax lockdowns and travel restrictions ease this month, with production to be subdued on the backdrop of current low prices and aggressive capital spending cuts by oil and gas …

Source: CNBC

Oil traders have never seen an ‘insane’ market like this, fear more declines to negative prices

CNBC


The oil market is facing uncharted territory as the drop-off in demand, caused by the coronavirus pandemic, combined with rapidly filling storage, sent prices plunging into negative territory for the first time in history.

And with only guesswork as

Source: Houston Chronicle

U.S. intervenes in Saudi-Russia oil war with call for restraint

Houston Chronicle


The U.S. made its most direct intervention yet in the oil price war between Saudi Arabia and Russia, urging Riyadh to “rise to the occasion and reassure” energy markets at a time of economic uncertainty.

Secretary of State …

Source: Reuters

Oil prices set for biggest weekly drop since 2008

Reuters


LONDON  – Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 4% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.

Brent crude LCOc1 was up …

Iran Hasn’t Cut Offshore Oil Output, Halted Exports: IOOC Head

Iran Hasn’t Cut Offshore Oil Output, Halted Exports: IOOC Head

From Bloomberg

Iran’s offshore oil production hasn’t seen any reduction and the country just loaded crude for export, said Hamid Bovard, head of the Iranian Offshore Oil Co.

It loaded the latest batch of crude from its offshore fields for …

May 6, 2019 - 12:32 pm Closing Bell Story‎, Commodity Pricing, OPEC
Are the Oil Bulls Getting Ready to Run?

Are the Oil Bulls Getting Ready to Run?

We Have Created a Significant Supply Gap in the Years to Come: Andurand

Pierre Andurand, one of the foremost prognosticators of the oil collapse, has declared the beginning of a bull run on oil prices that will likely span the …

Oil Market Balance will Return by the End of 2017: EIA

Oil Market Balance will Return by the End of 2017: EIA

The dreaded surplus is only 3 days’ production

Global oversupply in the oil market has almost become a curse word in the oil and gas industry. Since the OPEC decision to maintain output levels on November 28, 2014, the industry …