Oil Prices: two-months' fall continues with no sign of abating!

The loss of crude oil prices shows no sign of abating for the second successive month, defying two major factors that in theory should reverse the trend; they are the volatility in the Middle East around Israel and the suspension of oil exports from two key Libyan ports, coupled with slow productio…

Read more »

OPEC+: Easing production cuts in October and non-compliance challenges of the members

Amidst the volatility in the Middle East and the evolving concerns over the health of the global economy as a whole, the ministers of the OPEC+, OPEC countries plus Russia, are facing the same old dilemma before their next meeting - restoring the production cuts as promised in October or maintainin…

Read more »

Crude Oil Markets: falling Chinese diesel consumption and Rising Russian Oil Exports

With the impact of the Middle Eastern volatility on crude oil prices having diminished, aside from minor spikes during occasional military flare-ups, long-term demand concerns now seem to be the primary driver of oil markets. Although the atmosphere in the Middle East is far from settled, the ground…

Read more »

Oil prices slightly recover, but volatility remains in the Middle East

Crude oil prices started falling on Monday as the markets opened for business, despite the extreme volatility in the Middle East that bordered on a major military conflict.  At present, Iran - and its allies - and Israel are on the brink of a major confrontation, unless a face-saving move is made co…

Read more »

The Crude Reality: oil prices are back in static territory!

As the prevailing tensions in the Middle East gradually ease, the short-lived spike in oil prices appears to be dying  down, leaving the oil markets back at the mercy of the usual factors.  With the two successive assassinations of key figures,  a few hours apart,  in the conflict in the Middle East, …

Read more »

Oil prices on decline - again!

The price of crude oil is back on decline, having been on the rise for about three weeks. As of 13:00 GMT on Tuesday, the prices of WTI and Brent were at $77.94 and $81.97 respectively.  Although some analysts were quick to predict a surge in oil prices due to the attacks carried out by Israel on Sa…

Read more »

Oil Price: cloudy outlook with bearish tendencies

The slow growth rate of China's GDP, around 5% according to the latest forecasts,  coupled with the falling gas prices, is clearly inhibiting the potential rise of global oil prices.  China, the world's top oil importer and second largest consumer after the US, enjoyed four decades of robust…

Read more »

Iranian New President: a heart surgeon who gauges nation's pulse - well!

Iranians elected a new president on Friday in a run-off election, who has pledged to take the country out of international isolation while promising women more rights that include relaxing the strict dress code - the compulsory hijab-wearing in public. Dr Masoud Pezeshkian, the president elect, aged…

Read more »

The Double-Edged Sword: Falling Oil Prices and Regional Impacts

The price of crude oil slightly increased as the weekend approached, something that has been attributed to the rising tension in the Middle East between Israel and Hezbollah, the Shite military group in Lebanon. As of 18:00 GMT, the prices of WTI and Brent were at $81.58 and $86.46 respectively. The…

Read more »

Oil price: diverging forecasts on oil demand from two global giants

IEA (2024), Annual oil demand growth, 2011-2025, IEA, Paris The Paris-based International Energy Agency, IEA, put a damper yet again on the perceived demand for oil in 2024 and 2025, in stark contrast to that of the OPEC+, the Organization of Petroleum Exporting Countries plus Russia. According to IE…

Read more »