Oil prices are rising today, keeping levels well over $70 per barrel, as the summer demand boost is still met with supply discipline and as negotiations that could bring back Iranian barrels to the market seem to be dragging in time
OPEC
Posted inExploration & Production
Oil rises further on demand uptick, supply maintenance and vaccination campaign breakthrough
Oil prices continue their ascent as rising demand, supply maintenance and a push to accelerate the global inoculation help preserve last week’s bullish environment
Posted inExploration & Production
Oil declines on profit taking, strong dollar and demand forecast differences
Oil prices continued their decline today due to a strong US dollar, as traders profit from high prices and as the market now evaluates which of the positive demand forecasts is actually more justified
Posted inExploration & Production
Oil prices trimmed but overall levels stay strong
Oil prices slipped a bit on Monday, but the bigger picture remains that an overall high price is intact and expected to last through the summer
Posted inExploration & Production
Oil keeps strong on OPEC+ supply discipline and summer demand
High oil prices don’t seem to be going away soon and continue to maintain recent gains on Friday, supported by OPEC+ supply discipline and enthusiasm over the strong summer demand
Posted inExploration & Production
Oil keeps strong on OPEC+ stance and summer demand outlook
Oil prices kept their strong level, as traders remained confident that the discipline OPEC+ showed and the coming summer demand benefit the commodity’s valuation
Posted inExploration & Production
Oil gains on OPEC+ conservatism, demand recovery and Iran negotiations lag
Oil prices rose again today on a bullish market sentiment after yesterday’s OPEC+ meeting and on positive demand indications. Meanwhile a lag in negotiations for a nuclear deal with Iran also assisted the ascent
Posted inExploration & Production
Oil breaks higher on OPEC+ despite Iran and US shale risks
While the recovery in global fuel demand remains far from synchronized due to concerns over tighter Covid-19 related restrictions in Asia, the market seems happy in the short-term to focus primarily on the positive demand outlook in the U.S. and parts of Europe
Posted inExploration & Production
Brent cracks $70 per barrel on OPEC+ stability and demand confidence
Oil prices gain today, with Brent topping the 70-dollar mark, as traders remain bullish on OPEC+ policy stability and on the rising global oil demand
Posted inExploration & Production
Oil up on global demand hopes, US stocks and weak dollar
Oil prices are increasing this week as a result of market expectations that oil demand is about to rise globally. Forecasts for a dip in US crude stocks and a weaker dollar are also helping prices grow