Oil Price Sufficient supply and uninterrupted oil trade flows despite the Middle Eastern conflicts are set to keep oil prices close to the $80 per barrel threshold this year, the monthly Reuters poll of analysts showed on Thursday. For the fourth consecutive month, more than three dozen analysts and economists continued to revise down slightly their forecast for the average price of
Oil Price Brent prices could hit $100 by the end of this year as the new 1 million bpd production cut Saudi Arabia announced on Sunday would further tighten the oil market, analysts said after the OPEC+ meeting this weekend. The OPEC+ producers decided to keep the current cuts until the end of 2024, while OPEC’s top producer and the world’s largest
US News SAO PAULO – Brazil President Jair Bolsonaro’s government said it aims to include state oil company Petrobras in its privatization program on Thursday, despite analysts calling it a long-shot for the far-right leader seeking reelection. Rather than triggering privatization in itself, the move – not final until Bolsonaro signs a decree – would enable the country’s Investment Partnerships
Reuters LONDON – Analysts have significantly increased their European carbon market price forecasts on expectations tougher climate targets for greenhouse gas reductions in the bloc will drive up the cost of permits. EU Allowances (EUAs) are expected to average 37.86 euros a tonne in 2021 and 41.61 euros/tonne in 2022, according to a Reuters survey of eight analysts. That is
Reuters NEW YORK – Every day, energy merchants collect and scrutinize whatever information they can find on fuel demand to get a trading edge: from satellite data tracking oil tankers worldwide to thermal images from cameras on pipelines and storage tanks. Real-time data on fuel demand would be the ultimate prize. On-the-spot gasoline consumption figures would change the way oil
Reuters Oil prices will gradually gain this year with demand improving and supply falling, although tensions between the United States and China are hanging over the coronavirus-hit market, a Reuters poll showed on Friday. The survey of 43 analysts forecast Brent crude would average $37.58 a barrel in 2020, about 5% above April’s $35.84 consensus, but still lower than the
CNBC Oil prices rallied for five consecutive days this week amid investor optimism over the relaxing of coronavirus lockdowns in the U.S. and around the world, but several energy analysts argue it’s too soon to get carried away. The commodity that saw one futures contract go negative for the first time ever last month, over the worst demand destruction in its history,
CNBC Oil prices could surge toward $80 a barrel if escalating geopolitical tensions disrupt Middle East crude supplies, analysts told CNBC on Friday, with energy market participants “on tenterhooks” after a U.S. airstrike killed key Iranian and Iraqi military personnel. International benchmark Brent crude traded at $68.65 Friday morning, up more than 3.6%, having earlier spiked to an intraday high of
CNBC The question of how much crude U.S. producers may be able to add this year could be pivotal for oil prices in 2020, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months. Speaking to CNBC’s “Squawk Box Europe” on Thursday, Chris Weafer, a senior partner at Macro-Advisory, suggested three “critical factors” were set to have
From Reuters U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels in the week to Aug. 16, compared with analysts’ expectations for a decrease of 1.9 million
From Reuters Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. Investors were
From Reuters The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings. These bargain rates, in one case half the initial published rate, will aid strapped oil producers that once had to sell their
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