Resolving the OPEC+ Impasse: is the US intervention imminent?

With no prospect of the next OPEC+ ministerial meeting to get round the impasse involving its key players in the Middle East, the likelihood of the direct intervention by the US has increased dramatically. Since the price of crude oil rose to the highest in three years, the price at pumps has worrie…

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OPEC+ Impasse: a severe collective blow to producers, consumers and investors - in the long run!

In retrospect, the oil spat between the UAE and Saudi Arabia laid bare something we had been suspecting for long: oil production – or supply – cuts had been grudgingly brought about by the members of the OPEC+ despite the apparent connotations of unity stemming from a common front. More often than …

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OPEC+ Meeting: Saudi Energy Minister sees the need of rationality and compromise - to save the organization

On the eve of the next crucial meeting of the OPEC+, Prince Abdulaziz bin Salman, the Saudi Energy Minister, has said that a bit of rationality and a bit of compromise saved the organization. The group is meeting again on Monday to reach an agreement that they failed to do so on Friday. The bone of c…

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OPEC+ meeting on Monday: will the UAE get its way?

The JMMC, Joint Ministerial Monitoring Committee, meeting  of the OPEC+ that ended inconclusively on Friday has added yet another anxiety to the beleaguered oil sector, when it can least afford to take the additional burden upon itself. The issue has arisen from the fact that the UAE, United Arab Emi…

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Will the OPEC+ overcome baseline quota impasse amicably today?

Oil price that rose steeply on Thursday, started stumbling on Friday coinciding with the delay in the OPEC+ final outcome. Although the members of the group put on a unified front, the sources close to the individual members cite disagreements among them as the cause for the delay. It goes without s…

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Oil price: EIA reports a substantial drop in US crude oil stocks

The two main factors that have been dominating the crude oil markets this week are the uncertainty over the OPEC+ outcome today at the ministerial meeting of the block and the significant drop in the US crude oil inventories for the week ending June, 25. The JTC – Joint Technical Committee – meeting…

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Oil prices rise desptie the uncertainties surrounding the OPEC+ meeting

The crude oil price is on the rise again and the markets hope that there will not be an over-supply in the event of OPEC+ deciding to increase the production in August – and in unison. The request made by the Russian oil minister for pushing back the meeting on the grounds of ‘ presidential commitme…

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OPEC+ Meeting: output hike is very likely!

Crude oil markets have been anxious ahead of the OPEC+ meeting, perhaps, anticipating an increase in output by the member nations. The natural inertia, given the current crude oil price, is to let it stay where it is by justifying it on the ground of covering past losses and getting the investment …

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Oil Price: did the crude oil markets react to the US air strikes?

The price of crude oil fell on Monday morning in the Asian markets, which may show cascading effect in the European markets too during the day. The early market reaction is not something expected; it is most probably a knee-jerk reaction to the air strikes carried out by the US in Iraq and Syria, ta…

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CCS: Carbon Capturing and Storage – major challenges remain unsolved

Ever since the lofty ambition of achieving net zero emission by 2050 came about, it has been gathering momentum at an impressive rate year-on-year in the realm of global politics. Since we are not left with many options to minimize the CO 2  emissions, unless we ditch the use of fossil fuels altoget…

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OPEC+ position amidst rising crude oil price

With the rising crude oil price, the OPEC+ is once again under an intense spotlight in the run up to its next monthly meeting, scheduled to be on July 1. In the past, although the suspense had been building for weeks before such meetings, the outcome turned out to be neither dramatic nor exciting; m…

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Oil Price rises with the fall of crude oil inventories, both in the US and Germany

The gradual rise in price of crude oil continues on Thursday, further buoyed by the latest data from the EIA, indicating a sharp drop in US crude inventories. In fact, the drop exceeded analysts’ expectations. It means the recovery of demand is on track and irreversible with the engine of growth ste…

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Prospects of reviving the Iranian nuclear deal fades away; OPEC+ is back under spotlight

The prospects of a success in reviving the JCPOA, 2015 Iranian nuclear deal, is slowly turning into a desert mirage, keeping a grand audience of investors, traders, analysts and of course and of course, men and women in the street in a state of confusion; it’s not a spectacle to watch that in turn …

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Oil price rises: demand breeds dynamism, eclipsing political factors

The price of crude oil gained momentum at the weekend again, as the possibility of a deal being struck during the sixth round of talks among the signatories of the 2015 Iran nuclear deal in Vienna, Austria, diminished. The talks, however, are going to resume in a few days’ time after the teams invol…

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