OPEC+ surprise output hikes highlight fading discipline
OPEC+’s surprise decision to add more oil to a well-supplied market reeling from the prospect of a global economic trade war suggests the group is struggling to keep its own house in order. The...
View ArticleSeeking to punish cheaters, Saudi Arabia pushes OPEC+ to open oil taps
Saudi Arabia’s anger at Kazakhstan and other over producing nations was the key driver behind a shock decision by the OPEC+ oil group to open taps on Thursday and might not be reversed even if oil...
View ArticleOil drops to 4-year low, China metals tumble on recession fears
Oil slid around 3% on Monday to its weakest since 2021, while most commodity markets including metals tumbled as an intensifying trade war between the United States and China triggered worries over...
View ArticleMiddle East Crude-Benchmarks fall as oil plunges, Saudi slashes May prices...
Middle East crude benchmark spot premiums of Oman, Dubai and Murban fell sharply on Monday with oil prices tumbling further, following Saudi Arabia’s weekend announcement to cut its May prices for Asia...
View ArticleOil and gas investor Afreximbank earmarks $3 bln to support locally-refined...
The African Export–Import Bank (Afreximbank), a key investor in oil and gas projects, has earmarked $3 billion to finance the purchase of refined products within Africa as part of broader plans to...
View ArticleLibya to offer production sharing contracts under new oil bid round
Libya is set to offer 22 areas for oil exploration and development in its first such bidding round in more than 17 years, oil officials said on Monday, adding that deals will involve production sharing...
View ArticleKremlin calls falling oil prices the result of a very tense global economic...
Oil prices are a very important indicator for Russia’s financial health and economic authorities are closely watching the situation around lower prices which is “very tense”, a Kremlin spokesman said...
View ArticleRussian Urals oil prices fell to the lowest level since 2023 as Brent price...
Russian Urals oil prices fell to the lowest levels since 2023 as international benchmark Brent prices collapsed amid escalating trade tensions between the U.S. and China following the tariffs policy...
View ArticleCiti lowers 0-3 month Brent forecast to $60/barrel on tariff shock
Citi Research on Monday lowered its 0-3 month Brent price forecast to $60 per barrel and also reduced its 0-3 month copper and aluminium price forecasts to $8,000 per metric ton and $2,200 per ton,...
View ArticleSaudi Arabia cuts May oil prices to Asia to four-month low ahead of OPEC+...
Saudi Arabia, the world’s top oil exporter, on Sunday slashed crude oil prices for Asian buyers in May to their lowest in four months, following a recent shock decision by the OPEC+ oil group to speed...
View ArticleWestwood Insight – US Gulf drillship fleet heading into rough waters
The US Gulf drillship sector is facing a lull in activity not seen since 2018. With marketed utilisation for this segment staying above 90% since mid-2021, near-term availability in the region has been...
View ArticleRussian Gas Unlikely to Return to Europe in Large Volumes
A potential peace agreement between Ukraine and Russia would be unlikely to lead to large additional volumes of Russian gas returning to European markets, as the EU has nearly fully replaced it with...
View ArticleGoldman Sachs lowers 2026 oil price forecasts again
Goldman Sachs revised down its annual average price forecasts again for Brent and WTI crude in 2026, citing increased recession risks and the possibility of higher-than-expected OPEC+ supply. In a note...
View ArticleOil price has flaky defences against further falls
Crude values have fallen 16% to $63 a barrel since last week’s US tariff bombshell. Geopolitical shocks and coordinated producer cuts offer ways to stop the rot. But President Trump’s preference for...
View ArticleThe Commodities Feed: Downside risks persist
Energy -Tariff tensions build Oil prices witnessed something of a relief rally this morning. Yet risks are still skewed to the downside as President Trump threatens an additional 50% tariff on Chinese...
View ArticleOil prices climb 1% after heavy US tariff-driven selloff
Oil prices were up around 1% on Tuesday, rebounding from a near four-year low in the previous session on concerns that U.S. tariffs might depress demand and lead to a global recession, though analysts...
View ArticleMiddle East Crude-Benchmarks drift lower amid rising supply outlook
Middle East crude benchmark spot premiums of Oman, Dubai and Murban drifted lower on Tuesday amid an outlook of rising supply and demand concerns. The supply pressure mounted last week when eight OPEC+...
View ArticleCanadian oil and gas CEOs avoiding ‘rash’ decisions during price rout
The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole,...
View ArticleUS oil, gas producers expected to tighten capital budgets amid tariff actions
The Trump administration’s tariffs and countermeasures by other economies are expected to discourage capital spending by US oil and natural gas producers, which are worried about the prospect of higher...
View ArticleGoldman Sachs forecasts Brent, WTI prices under different scenarios
Goldman Sachs forecast that Brent and WTI crude prices would be at $62 a barrel and $58 by December 2025 and at $55 and $51 by December 2026, respectively, under two assumptions. The bank, in a note...
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