As our global economy recovers from the pandemic, energy prices increase as we continue to see inflation throughout the world. Two things that can affect whether prices at the gas pumps continue to increase are OPEC+ and U.S. shale outputs. With people resuming road and air travel, the global oil demand has almost rebounded to […]
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Today marks the longest stretch of daily declines in oil prices since 2019 as concern continues to grow about global energy demand. West Texas Intermediate (WTI) dropped for the seventh day this week leading to a weekly loss of 7.3%. Oil prices took a hit this month caused by speculation that the Federal Reserve will […]
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Unless you have been living under a rock, it is no secret crude oil has been on a tumultuous ride. Crude has long been a commodity that follows up and down trends on traditional cycles. The seven-year boom followed by a year of bust broke cycle in 2015 and saw the oil and gas sector […]
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Now that the Ever Given has been dislodged from the Suez Canal, the oil market can look forward to the OPEC+ meeting on Thursday and the outlook for possible resurgences of COVID-19 to determine future price direction.
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When news of how potentially devastating COVID-19 could be started spreading in February 2020, oil prices were at $53/barrel. This was prior to the OPEC+ price war between Russia and Saudi Arabia that occurred in March and resulted in Saudi Arabia drastically increasing oil production after Russia refused to reduce output. We all know that […]
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Oil prices are edging slightly higher today on very light holiday trading volume, but the question is: have prices risen too far too fast?
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The US election is a mere 3 weeks away and most experts agree that oil will remain on steady ground until after the election is decided. Covid-19, renewables, and consumer behaviors have brought crude to the brink several times since March. The US Shale industry has been forced to endure the worst market conditions in […]
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Ever since WTI crude oil prices broke out above the $32/barrel level in May, we have been on a steady grind higher. The question is, will this continue?
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During last week’s OPEC + meeting the group agreed to keep production cuts of 9.7 million barrels per day until the end of July. This effort has helped bolster oil prices to levels of almost double the values in April. The prior OPEC + meeting brought forth the creation of a new advisory group, the […]
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As we near the end of May, we will put behind us one of the most bullish rallies for the WTI crude oil contract in history with crude jumping almost 75% this month alone. Of course, with WTI prices currently trading at $33.33/barrel, that’s not saying much, as it is widely perceived the breakeven price […]
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