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
WTI
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 gains on OPEC+ meeting confidence and coming demand recovery
Oil prices gain today on trader confidence ahead of this week’s OPEC+ meeting and on positive oil demand recovery signs
Posted inExploration & Production
Oil feels minor effect of Iran nuclear deal negotiations but keeps high levels on demand optimism
Oil prices are losing some dollar cents today on the back of negotiations with Iran to revive a nuclear deal and restart exports, but summer demand optimism is keeping levels high.
Posted inExploration & Production
Oil prices ease but remain at high levels on strong summer demand
Oil prices trimmed some of the previous day’s gains, but they still remain at high levels due to expectations for strong summer demand and the reopening of global economies
Posted inExploration & Production
Oil rises as a US pipeline hack hides the effect of the pandemic’s spread in Asia
Oil prices rose on Monday as a cyberattack on key pipeline infrastructure in the US made up for bearish news over the pandemic’s further spread in Asia
Posted inDRILLING & PRODUCTION
Rising investment and physical demand drive oil towards 2021 high
The year-on-year rate of change has reached levels not seen for at least a decade, and we are increasingly seeing the risk of the current inflation spike not being the transitory phenomenon being touted by major central banks
Posted inDRILLING & PRODUCTION
Oil up on hopes OPEC+ may address the Indian demand destruction
Oil prices are ticking up today on trader hopes that OPEC+ may address India’s demand destruction with supply policy amendments in its coming meeting
Posted inDRILLING & PRODUCTION
Oil up on Libya budget rift and US crude stocks expectations
Oil prices rose on Tuesday as a result of a force majeure on exports from Libya’s Hariga port and on expectations that crude inventories fell last week in the US
Posted inDRILLING & PRODUCTION
Will higher oil prices spell trouble for upstream discipline?
Operators need to hold firm and focus on restraint and resilience, Wood Mackenzie says