The oil market rally seems to be paused as after morning losses prices have now returned to the previous trading day’s levels, with traders starting to price in inflation concerns
rystad energy
Posted inExploration & Production
Oil fluctuates as traders weigh US gasoline stocks against overall demand forecast
Oil prices recovered early losses today as the market opted to keep levels above $70 dollars, weighing the positive overall demand forecast against a gasoline stocks build in the US and a return of Libyan production
Posted inExploration & Production
Oil rises on demand recovery, WTI highest since 2018 on positive US consumption signs
Oil prices rose on Wednesday, with WTI reaching its highest level since 2018, on positive demand signs – especially from the US
Posted inExploration & Production
With hundreds of Australian wells stopping production soon, a multi-billion P&A market emerges
This task is both adding headaches for producers and creating a multibillion-dollar opportunity for plugging and abandonment (P&A) suppliers
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+ 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
Global petrostates can forget trillion-dollar oil and gas tax revenues as energy transition bites: Rystad
2021 will be the last year global oil and gas taxes will approach the trillion-dollar mark, reaching about $975 billion
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