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Brent crude settled above the $60 per barrel barrier as markets continued to be preoccupied with slowing global growth. The grade advanced to $60.43 per barrel while WTI rose to $55.11 per barrel. While economic growth concerns remain amid the ongoing trade war dispute, crude oil balances ...
I expect West Texas Intermediate oil prices to once again range between $52.50 and $62.50, which is the same range as my last month's forecast. August has been a difficult and volatile month for oil prices and equities. There were the US-China tariff flareups followed by the G7. Yet, oil pri...
By Dennis Coyne Seems we don't know what future completion rates will be in the Permian basin or anywhere. There are many different opinions on whether the completion rate might increase, decrease or stay the same. In my view, the conservative assumption is to assume they will not go up or...
A pump jack operates in the Permian Basin oil production area near Wink, Texas U.S. August 22, 2018. (Reuters) Oil prices tumbled last week as Brent crude fell below $60 per barrel for the first time in eight months. Brent finished at $58.53 while WTI fell to $54.50 per barrel. Some anal...
Right now, a couple of interesting things are happening in the US oil patch that suggest, on the whole, the picture for crude continues to remain bullish. One of these developments relates to DUCs (drilled but uncompleted wells), while the other shows an interesting disparity existing at the m...
Right now, a couple of interesting things are happening in the US oil patch that suggest, on the whole, the picture for crude continues to remain bullish. One of these developments relates to DUCs (drilled but uncompleted wells), while the other shows an interesting disparity existing at the m...
One big fear circulating through the energy markets right now is that a global slowdown, combined with record output, is causing oil and product inventories to rise enough that we are at risk of another glut forming. Surely, if this does come to pass, investors can expect prices to tumble, wit...
The US sanctions on Iran gave a great opportunity to Iraq, which shortly after increased its target for crude oil production to 6.2 million b/d by early 2021 and nine million b/d by early 2024. The additional volumes will allow Baghdad to cover part of the supply gap created after Iran's colla...
Volatility heightened last week, which closed with prices at their lowest in almost a month, after hitting a six-month high a week ago. Prices slumped after a buildup in US crude inventories by 10 million barrels, amid record-high US oil production to 12.3 million bpd. That took the edge o...
The bull case for oil ( USO ) is getting a bit too obvious. With geopolitical instability among many of the world’s leading oil producers making headlines across oil markets and the White House just announcing an end to Iranian oil wavers for huge consumers including both China and Ja...