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Even if OPEC slashes production by 600K barrels per day, the price of oil "could still be weak in March and April, before it improves in the summer," said Kang Wu, head of Asia analytics at S&P Global Platts. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil T...

We took a brief hiatus from our weekly series Open Insights to update our oil thesis, but we're back now back to looking at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of February 24, 2020. EIA reported a crude build of 0.4M barrels, about 2M barrels less than the five-yea...

OPEC and its allied oil-producing nations are still working to rebalance global crude markets amid speculation of tensions in the alliance over whether to cut output further. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN, VelocityShares 3x...

By OVI Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA's International Energy Statistics and updated to October 2019. Information from other sources such as the IEA and OPEC is used to provide a short-term outlook for futu...

China will be able to soften the crude oil demand hit from coronavirus after the government reported the lowest number of new cases. (AP/File) Of greater concern is the big drop in demand for oil in China - especially from Russia Crude oil prices recorded their second weekly gain despi...

It took three months for the price of crude oil to rise from just below $51 per barrel on the nearby NYMEX futures contract in early October 2019 to a high of $65.65 on January 8, 2020. The final push to the upside came as tensions between the US and Iran reached a boiling point, which created...

In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action. As noted in last week's WTI Weekly , the primary expectation for this week was for price discovery higher, barring failure of 49.31s as support. This expectation did p...

The coronavirus is yet to be contained and its impact on the global economy not fully understood. Cases in South Korea, Iran and largely-spared Beijing have been reported. Supply chains are disrupted unevenly among firms. Oil demand is reduced. The Fed is "actively monitoring the situation and...

The Saudis' Pyrrhic Victory Over US Shale China's Coronavirus (Covid-19) presents OPEC+ with its biggest challenge when they convene during the first week of March. The crisis has widened political ruptures between the OPEC+ heavyweights Saudi Arabia and Russia. In 4-5 February 2020 the OP...

Welcome to the not much left edition of Oil Markets Daily! Over the coming months, the story that US oil production growth is set to decelerate materially will become mainstream. We are already seeing it in the real-time data with US oil production now falling to ~12.6 mb/d, but this will ...