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(Reuters) – Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, five sources with knowledge of the talks said. This possible shift in Saudi policy could suggest a move toward …
Saudi Arabia Signals it Can Live With Lower Oil Prices, Sources Say Read More »
(Reuters) – U.S. crude oil stockpiles fell unexpectedly last week on higher export and refinery demand, while gasoline drew down for a ninth straight week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels to 440.4 million barrels in the week ended April 25, the EIA said, compared with analysts’ …
US Crude Stockpiles Draw Unexpectedly on Export, Refinery Demand, EIA Says Read More »
Alberta Premier Danielle Smith challenges Mark Carney to improve the relationship between Alberta and the federal government, citing frustration over policies that “overtly attacked” the province’s economy. Smith demands “meaningful action” to reset the relationship, warning that Albertans will no longer tolerate threats to their industries and resources. The Alberta government will hold a caucus …
(Reuters Breakingviews) – Elliott Investment Management has a point about BP. Paul Singer’s activist investor group wants the $76 billion oil major, which reported on Tuesday, to cut costs more aggressively. Having allowed key operating expenses to balloon $10 billion since 2019 – or 30% – BP has minimal grounds to push back. Elliott, now BP’s …
Summary Brent projected to average $68.98 per barrel in 2025 WTI to average at $65.08 per barrel in 2025 For table of crude price forecasts, click (Reuters) – A demand outlook clouded by trade disputes between the U.S. and China coupled with OPEC+’s decision to unwind supplies will weigh on oil prices this year, a …
Oil Outlook Dims on Tariff Headwinds, Potential OPEC+ Supply Boost Read More »
Summary Brent, WTI down for a third session, hit lowest in over 2 wks Brent down around 15% so far in April China PMI falls sharply as Trump tariffs bite OPEC+ meeting on May 5, market fears another output hike (Reuters) – Oil prices extended declines on Wednesday and were set for their largest monthly …
Oil Prices Down, Poised for Biggest Monthly Fall Since 2021 Read More »
By Scott Disavino NEW YORK, April 29 (Reuters) – Oil prices fell about 2% to a two-week low on Tuesday as investors braced for OPEC+ to boost output and worried U.S. President Donald Trump’s tariffs would hit the global economy and slow demand for the fuel. Brent crude futures fell by $1.61, or 2.4%, to …
Oil Prices Fall 2% to 2-Week Low as Trade War Concerns Dampen Demand Outlook Read More »
Canada has 3X US oil reserves but less than 40% the production. Why? Because anti-oil politicians like Mark Carney, who say they’re protecting Earth’s coldest country from global warming, are really punishing Canada with very little global effects. Alex Epstein Canada is squandering the greatest oil opportunity on Earth Canada has the greatest oil opportunity …
By Julian Lee and Alex Longley When US President Donald Trump was inaugurated to his second term as president on Jan. 20, oil prices were close to the highs of the summer before. By early April, they had fallen to a four-year low, and ticked up only slightly later in the month. The lower crude …
Why Cheap Oil Relieves Some, Worries Other Countries Read More »
(Reuters) – Barclays lowered its Brent crude forecast on Monday by $4 to $70 a barrel for 2025 and set its 2026 estimate at $62/b, citing “a rocky road ahead for fundamentals” amid escalating trade tensions and OPEC+’s pivot in its production strategy. Despite oil market fundamentals evolving “significantly better than expected” in early 2025, …
Barclays Cuts 2025 Brent Crude Forecast on Trade Tensions, OPEC+ Shifts Read More »
