Laughing in Quotas, Dancing to Baselines: trials and tribulations of OPEC+ in verse!

All eyes are on the rescheduled meeting of the OPEC+ that is going to take place tomorrow online, if they have overcome the stumbling blocks that led to the unexpected impasse.  It is the 187th OPEC conference, 51st JMMC meeting and 36th ONOMM combined. Undoubtedly, the meeting is going to be crucial…

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Oil Prices Tumble as OPEC+ Postpones Meeting; OPEC+ and IEA lock horns over renewables and peak oil demand!

On November 22, 2023, the Organization of the Petroleum Exporting Countries (OPEC) and Russia, collectively known as the OPEC+, surprised the energy markets by announcing that their upcoming meeting, scheduled for November 26, would be postponed. The meeting had been scheduled to discuss the product…

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The three pillars that support oil markets: availability, affordably and sustainability!

At present, the speculations run rife in the energy markets about the next move by Saudi Arabia and Russia in the face of falling oil prices.  Every oil analyst ponders the thought - and inevitable consequences - of yet another production cut by some oil producers in order to shore up the prices, de…

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Oil price: can Venezuela fill the void, if demand is on the rise - again?

The pendulum of oil prices is back in the bearish territory, dealing a heavy blow to the ambitious producers in the OPEC+, mainly Saudi Arabia and Russia that tried in vain to push it to the polar opposite. On  Thursday afternoon, the selling price of crude oil fell almost by $8, with WTI and Brent …

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Will Saudi Arabia really extend the production cuts beyond December?

Aramco, the Saudi national oil company and the world's second largest company by revenue, reported 23% fall in year-on-year profit on Tuesday; in 2022, however, it made a record profit of just over $161 billion that is more than those of Google, Microsoft and Amazon combined for the same period…

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Oil prices: substantial fall attributed to the economic woes, not the wars

The price of crude oil dramatically declined this week despite the anxieties over the potential  disruptions of the flow of the commodity from the Middle East. The fall in price came about as most economic indicators paint a gloomy outlook across the world: In October, for instance, China's Manuf…

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Oil Price: Chinese Manufacturing activities show a contraction in October!

At present, commodity markets are not short of uncertainties that constantly stem from the combination of the crises in the Middle East and  of course, the sluggish, global economic outlook. What they do not want is yet another anxiety on a different front. Unfortunately, that's what it really g…

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Easing sanctions against Venezuela: contribution to the oil markets is still a drop in the ocean!

The US recently eased its sanctions against Venezuela on condition that the government led by Nicolas Maduro would hold free and fair elections in 2024. The move, not unexpected, came as the tension in the Middle East rose exponentially with the possibility of the US being sucked into the current c…

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Japan appeals to oil producers to increase the production

As the war between Israel and Hamas enters its second week, with no sign of the hostilities being on the wane, Japan, appealed  to the oil producing countries  on Wednesday  to increase the production in order to stabilize the energy markets . The urgent request was made after a telephone conversation …

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Oil prices and conflict in the Middle East: volatility eases, but gas prices are up

As the war between Israel and Hamas enters the sixth day, the oil markets appear to have found the stability with the volatility that we witnessed at the outset being on the wane. As of 10:50 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $84.29, $86.89 and $3.34 respectively. …

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Rising oil prices: Indian oil minister warns about unintended consequences of production cuts!

The price of crude oil substantially fell on Wednesday, despite the decision by the OPEC+ to sticking to the production cuts already made by Russia and Saudi Arabia. The prices did not recover enough to gather momentum to reach $90 a barrel in the early hours on Thursday: as of 09:00 GMT, the prices…

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