Oil prices are edging slightly higher today on very light holiday trading volume, but the question is: have prices risen too far too fast?
Read MoreHave Crude Prices Risen too Far too Fast?
Vaccine Concerns
Earlier this month both China and Russia reported that they have developed a Covid-19 vaccine that has been clouded by doubt throughout the world since Phase III testing had not been performed. The vaccines have been developed by CanSino Biologic from China and the Gamaleya Institute in Moscow and are a modification of adenovirus type […]
Read MoreLibya in Limbo
The United States has joined the United Nations and Libyan government’s investigation into the potential brokering of an unlawful sale of Libyan oil by General Khalifa Haftar. The rebel general reportedly traveled to Venezuela to discuss oil contracts to raise money for his Libyan National Army (LNA) through the sale of crude oil. Libya’s National […]
Read MoreProduction Cuts Start Early for These Two
OPEC+ came to an agreement earlier this month to institute record-breaking production cuts of nearly 10 million barrels per day. The production cuts were set to take effect on May 1st, but some members have taken it upon themselves to start earlier. Kuwait and Saudi Arabia have both made the decision to start scaling back […]
Read MoreRussia Considers Cutting Production
In an attempt to curtail the downward plunge of global oil prices, Russia is considering supporting cuts among OPEC and its partners. On Thursday, Sergey Lavrov, Russia’s top diplomat, confirmed Russia’s support for production cuts following a conversation between President Putin and the King of Saudi Arabia. However, Energy Minister Alexander Novak said on Friday […]
Read MoreNew Infrastructure in China
This past Monday, China has launched its new oil and gas pipeline group. This group consists of multiple assets combined into one group with a net worth of between 80 – 105 Billion USD. This has been a plan of China for years, but according to reports, it was just approved this past year.
Read MoreTrade Deal Hopes Buoys the Bulls
WTI oil prices rose Monday morning to $56.94/barrel due to a barrage of bullish headlines which puts this year’s oil rally north of 22% and climbing.
Read MoreWHO RUNS THE WORLD? OPEC
The world of crude oil is buzzing right now, as OPEC is currently meeting in Vienna, with a goal of reaching an agreement over production levels within the next 6 months. Oil prices dropped over 3 percent on Thursday as OPEC agreed to cut production. However, the cartel is waiting to decide on the actual […]
Read MoreWhat In The World?
As we approach the holidays, here are a few things oil and gas companies are juggling:
Read MoreRussian Oil Production
With the Iran sanctions looming, international oil markets are looking for alternative crude suppliers. The United States and the European Union (EU) as well as many others, have initially turned to Saudi Arabia. However, there is uncertainty of the Saudi’s ability to fill in the production gaps given the recent turmoil over a murdered Saudi […]
Read More
