Oil Price: volatility keeps it on a slippery pole

The oil prices are in decline again despite the larger-than-expected draw in US crude stocks this week.  Although the production cuts announced by Saudi Arabia and Russia have been pushed up the prices of crude oil for obvious reasons, for two successive weeks the price of WTI has been below $80. As …

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Oil price: will rising energy prices slow down the global economic growth again?

The price of oil has been on the rise for two successive months, a development can partially attributed to the production cuts of over 1.5 million bpd by two leading players in the OPEC+, Russia and Saudi Arabia. Perhaps buoyed by the apparent succss of pushing oil prices up, the Saudis are now sayi…

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Oil Price: China's manufacturing PMI is slightly up in July!

Oil price has been on the increase and the production cuts announced by Russia and Saudi Arabia have already been attributed to the sudden spike that we see in the commodity markets. China has, meanwhile, released its much-awaited monthly report on its economy, including that of its Manufacturing Pu…

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Oil price: the production cuts affect the markets - finally!

The price of crude oil rose almost  by $6 this week, a development that can easily be attributed to the anxiety over the perceived shortage in supply due to the production cuts announced by Saudi Arabia and Russia. As  of 18:00 GMT on Friday, the prices of WTI and Brent were trading at $80.58 and $84…

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Oil Price: will $60 price cap bring about a buyer-apathy?

The price of Brent crude oil went up above the market-sensitive threshold, $80 a barrel on Friday, having fluctuated just below the value during the week. As of 18:00 GMT, the prices of WTI and Brent were $77.07 and $81.07 respectively. The price of LNG, liquified natural gas, meanwhile was at $2.71…

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Rising oil prices in light of falling demand: is it sustainable?

The price of crude oil rose this week, having come out of the static loop that it has been in for weeks.  As of 09.30 GMT on Friday, the prices of WTI and Brent stood at $76.76 and $81.28 respectively. The price of LNG, liquified natural gas, meanwhile, was at $2.55. The rise in price of crude oil de…

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Oil price: production cuts failed to amplify the investor confidence

Oil price and production cuts On the seesaw of uncertainty, the speculators of the price crude oil and two of the major producers of the OPEC+, are, metaphorically speaking,  trying to get their respective way to buckle the prevailing equilibrium of the oil markets on the fulcrum of sentiments - at …

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Oil price: a slight rise in China's Manufacturing PMI pushes the oil prices up

China's Manufacturing Managers' PMI for June, 2023 China, the world's second largest economy, released its monthly data on Manufacturing Purchasing Managers' Index, known as the PMI, that is a key indicator of the manufacturing activity of the country.  It has risen by 0.2% from the p…

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Oil price: the great stagnation

Having recorded more than 4% fall on Thursday, the price of oil has slipped back into the realm of stagnation, much to the frustration of traders and of course, beleaguered producers. As of 18:00 GMT on Friday, the prices of WTI and Brent were at $69.16 and $73.85 respectively.  On Thursday, the Gove…

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Potential revival of Iranian Nuclear Deal: will the oil price be under further strain - again?

The price of oil remains static despite the production cuts announced by Saudi Arabia, the world's top exporter of crude  oil, recently. At present, it is far below where the Saudis want it to be, given the fact that that their breakeven price at present is above that of crude oil. Production cu…

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Oil price: have the production cuts placed OPEC+ under severe strain?

With the oil price rally that we saw on Monday being dubbed as one of the shortest of its kind, Saudi Arabia, the largest crude oil exporter in the world, has been left reeling from yet another shock from the unpredictable behaviour of  the commodity markets. As of 13:00 GMT on Wednesday, the prices…

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