The double whammy of yesterday's EIA drilling productivity report - showing rampantly rising shale production next month - combined with a bearish OPEC monthly oil market report, has sent oil prices scampering lower, testing key support levels on both Brent and WTI. With more twists and turns in the coming days than the Monaco Grand Prix, hark, here are five things to consider in oil markets...Continue Reading
Oil is charging lower to start the new week, as the monthly OPEC oil market report has done little to assuage oversupply concerns - despite the cartel's proclamations of production cut compliance and upward revisions to oil demand growth. Hark, here are five things to consider in oil markets today:Continue Reading
The mood of crude has flipped again, with optimism rising ahead of the NOPEC meeting at the weekend. Even though doubts persist, for today, oil prices push higher. Hark, here are six things to consider in oil markets today.Continue Reading
Good day! With Nonfarm Friday now behind us, we can look forward to a week of oil-specific monthly releases from IEA (tomorrow), OPEC (Wednesday) and EIA (Thursday).
As the spotlight swings onto another meeting of global producers - this time in Istanbul this week - rhetoric out of Saudi and Russia is once again encouraging an oil rally. Hark, here are five things to consider in oil markets...Continue Reading