The Week Ahead: Crude Oil futures

Short recollection: This Friday, oil futures leveled higher. Recovering from the previous 5% drop which was the consequence of higher market expectations related to OPEC. Currently, traders are trying to refresh their attitude about Oil market and OPEC's further steps. The U.S. West Texas Intermediate crude July contract came on 90 cents. In percentage, that would be [...]

By | 2017-05-28T16:05:38+00:00 May 28th, 2017|Oil Market|0 Comments

Will OPEC make it to co-exist with U.S. shale oil ?

At the beginning , they ignored each other. After a while, they went into a bruising fight. Now, finally, they are talking, although with opposing agendas. The evolution of the relationship between OPEC and the United States oil industry now lasts for about 5 years. 5 years ago, OPEC discovered it has a rival emerging [...]

By | 2017-05-28T11:04:21+00:00 May 28th, 2017|Financial, Governments, International, Oil Market|28 Comments

Oil price drops; Base Metals down

Main economic events in Market Today: U.S. Core Durable Goods Orders (MoM)(Apr) fell to actual -0.2% while forecast was 0.4% U.S. Gross Domestic Product (GDP) QoQ fell to actual 0.7% while forecast was 1.2% U.S. GDP Price Index QoQ rose to actual 2.2% while forecast was 2.0% U.S. Michigan Consumer Expectations came to actual 88.1 [...]

By | 2017-05-26T07:18:45+00:00 May 26th, 2017|International, Oil Market|0 Comments

Oil prices rise, as OPEC’s decision is getting closer

Tuesday's Oil prices were a bit volatile, but now Oil rose again on expectations of OPEC's output cuts extension. As Thursday is nearing, the OPEC meeting is giving a support to global oil prices. There were some losses earlier today in the session. After White House said it would sell off half of the country's [...]

By | 2017-05-23T17:01:37+00:00 May 23rd, 2017|Oil Market|0 Comments

Oil Production; Summary of Main Oil News this week

Russian energy ministry and output cut talks The main official of Rosneft, Igor Sechin, said on Saturday that the Russian energy ministry had his backup in discussions over oil production cuts. "The most important thing is to have a mechanism to defend our interests.'' In previous months, Sechin has expressed some suspicions about the ability [...]

By | 2017-05-14T06:54:44+00:00 May 14th, 2017|Financial, Governments, International, Oil Market|0 Comments

Oil prices VOLATILE; firstly UP on positive expectations, then falling DOWN after overnight gains

Top 5 things about Monday's Market: Macron cruises to victory in France Euro SLIPS as Macron relief rally loses steam Global stocks mixed; Europe trades lower after French election Oil gives up strong overnight gains China's april exports, imports rise less than expected   More info on these 5 from:   Prices; Monday Overnight [...]

By | 2017-05-08T10:58:57+00:00 May 8th, 2017|Financial, Governments, International, Oil Market|0 Comments

Oil prices lower every day; OPEC’s effective and efficient decisions needed

Today, it was a day of 5-month lows in Oil prices. This happened because of bothers on OPEC glut, and whether it would be extended. Nevertheless promises from Saudi Arabia about Russia's preparation to join OPEC's future cuts.   Low Prices of Oil U.S. West Texas Intermediate crude oil futures  were more than 3 percent [...]

By | 2017-05-05T15:53:24+00:00 May 5th, 2017|Financial, Governments, International, Oil Market|0 Comments

Oil immerses, on U.S. stock decline

Oil prices tumbled lower today, May 3. Right after the U.S. government data showed a smaller-than-expected decline in domestic crude inventories. There was also shown a weak demand for gasoline. And it is feeding bothers about a supply glut.   Oil Numbers & Data Benchmark Brent crude LCOc1 was down 8 cents at $50.38 a [...]

By | 2017-05-03T17:25:08+00:00 May 3rd, 2017|Uncategorized|0 Comments

Africa’s Potential in growing production: Gabon Oil Market

Gabon is Africa's fourth largest oil producer. (in Sub-Saharan Africa.) With an output of around 220,000 barrels per day, dominated by international oil majors Total and Shell.   Gabon Trade Last Previous Highest Lowest Unit Balance of Trade 3711.95 3572.48 3964.22 439.20 FCFA Million Exports 6168.03 5829.90 6168.03 1125.40 FCFA Million Imports 2456.08 2257.42 2456.08 [...]

By | 2017-04-19T19:56:52+00:00 April 19th, 2017|Financial, Governments, International, Oil Market|1 Comment

OPEC and non-OPEC dedicated to restoring OIL market stability

  Bringing global inventories down   Mohammad Barkindo, OPEC secretary-general, saying that all OPEC and non-OPEC oil producers are taking part in a bringing the global stability to the Oil market. Speaking in the UAE, he said agreement data in March is showing better conformity by the oil producers than in February. “OPEC and non-OPEC [...]

By | 2017-04-19T11:44:31+00:00 April 19th, 2017|Governments, Oil Market|0 Comments