Oil prices rise again: investors are active in the buying trend

Crude oil prices continue to rise despite the anticipated collective release of SPRs, strategic petroleum reserves, by the leading economies. As of 09:30 on Friday, the price of WTI and Brent stood at $80.06 and $82.60 respectively. Although the OPEC+ estimated an oil glut in the first quarter of 20…

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Latest OPEC+ meeting when the recovery of demand remains steady

The monthly ministerial gathering of the OPEC+ members takes place on Tuesday as the recovery of the demand continues steadily, despite the rapid spread of the Omicron variant of the Coronavirus. With the revival of the JCPOA, 2015 Iran nuclear deal, oscillating between mild optimism and abject fail…

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Reiving the Iranian Nuclear Deal: will the latest talks result in a success at last?

The negotiators from Iran and the rest of the signatories to the JCPOA, 2015 nuclear deal, are back in Vienna, the Austrian capital, to resume the negotiations, which was halted a week ago in light of Christmas holidays. The Iranian team projected a sense of optimism this time while Iranian foreign…

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Wishing you a Merry Christmas & Happy New Year!

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Falling US crude inventories keep oil price steady despite Omicron outbreaks

The US crude oil inventories have been falling steadily since the end of November, clearly indicating a strong correlation with the falling prices of the commodity in the international markets. The API, American Petroleum Institute, released its data on Tuesday that showed a fall of 3.67 million bar…

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Omicron surge in Europe takes its toll on crude oil price

The price of crude oil started falling on Monday, clearly indicating the impact on the demand by the surging Omicron across Europe. It is a body blow for a range of industries that had been waiting to breathe a sigh of relief during the Christmas period, having immensley suffered almost for two yea…

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OPEC+ sees over 17.6% global growth in the next 25 years

Global Oil prices have tumbled, yet the OPEC+ sees the light at the end of the tunnel, after revising its previous gloomy forecast for the first quarter, 2022; the cartel sees an increase in demand for the period, despite the risk of global spread of the Omicron variant of the Coronavirus. Its lates…

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Oil Price: the failure to reviving the JCPOA and its direct impact on crude oil markets

The price of crude oil fell again on Monday in the markets, perhaps over the fears of yet another potential conflict in the Middle East, involving Iran, the West, the Sunni Arabian powers in the region and of course, Israel. Although the signatories to the JCPOA, 2015 Iranian nuclear deal, are meeti…

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Oil price between $70 - $80: it’s win-win situation for both consumers and producers

The price of crude oil remains static at present, having been through some understandable fluctuations in light of the Omicron outbreak across the world. As of 09:00 GMT on Friday, the price of WTI and Brent stood at $71.33 and $74.66 respectively. The modest draw of the US crude inventories this wee…

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Oil Price: what goes down, comes up - slowly

The price of crude oil is slowly rising in the markets despite the recent volatility stemmed from the concerns over the Omicron variant of the Coronavirus. As of 14:30 GMT on Wednesday, the prices of WTI and Brent were at $ 71.91 and $ 75.39 respectively. The price of crude oil did not follow the p…

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Saudi Arabia increases the price of crude oil to Asia and US

Saudi Arabia, the worlds’ largest exporter, has raised the price of crude oil for the US and Asia with effect from December. As for Asia, the Arab light crude has gone up by 60 cents. The rise in price will affect the key customers of the Kingdom in the region that account for 60% of its exports; th…

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China's manufacturing PMI rises after nine months: encouraging news for the crude oil markets

China’s Manufacturing Purchasing Managers Index, PMI, has risen by 0.9 in November, buckling the downward trend of the past 9 months, according to the latest data released by the National Bureau of Statistics of China. The encouraging news from the world’s second largest economy will be a significan…

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Oil Price: OPEC+ strikes the right note and keeps the supply unchanged

The OPEC+ collectively decided not to act on impulse in the unprecedented circumstances, triggered off by the outbreak of the Omicron variant of the Coronavirus. No sooner was it announced than it was well received by the beleaguered consumers across the world, especially when the risk of yet anoth…

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Oil price makes swift recovery defying the doom and gloom

The price of crude oil recovered on Monday defying the worst-case scenarios as the world still needs oil to function in a normal way. As of 15:00 GMT, the prices of WTI and Brent were $71.88 and $75.77 respectively. Most analysts hoped that the prices would recover gradually; many, however, did not…

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Responsibility of the OPEC+ after the oil price crash: will there be a more pragmatic apporach next week?

. With the discovery of the new variant of Covid-19 virus, Omicron, the prevailing optimism in the energy sector has started evaporating, almost mimicking dew on a leaf on a calm summer morning. It was a bolt from the blue, indeed; it, once again, demonstrated how vulnerable we are despite the advent…

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