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Oil prices to extend decline this year on weakening demand — BCA Research

BCA Research forecasts further decline in oil prices this year, driven primarily by weakening global demand for crude. As reported by Investing.com, Brent oil lost over 6% of its value in the first half of the year.

36 minutes ago
Oil prices to extend decline this year on weakening demand — BCA Research

BCA Research forecasts further decline in oil prices this year, driven primarily by weakening global demand for crude. As reported by Investing.com, Brent oil lost over 6% of its value in the first half of the year.

36 minutes ago
Oil prices to extend decline this year on weakening demand — BCA Research
Oil prices hit two-week high on lower US production forecast — Reuters

On Tuesday, oil prices climbed to a two-week high after EIA lowered its short-term forecast for domestic energy production growth. Additional support came from shipping risks in the Red Sea and market concerns over potential American tariff hikes on copper imports, Reuters reported.

Today at 6:39 AM
Oil prices hit two-week high on lower US production forecast — Reuters
US oil production growth to slow more than expected — EIA

According to Bloomberg, volatile oil prices are straining US drilling activity, likely leading to a sharper-than-expected slowdown in domestic crude output growth. American drilling rig counts continue to decline, nearing four-year lows.

Today at 5:27 AM
US oil production growth to slow more than expected — EIA
United States. API Weekly Crude Oil Stock. The value of the indicator has increased from 0.68M to 7.1M

An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.

Yesterday at 8:48 PM
OPEC+ set to roll back large-scale oil production cuts in September — Reuters

Reuters sources report that OPEC+ is set to boost oil production by 550,000 barrels per day in September. This will mark the final step in phasing out previous voluntary cuts.

Yesterday at 11:28 AM
OPEC+ set to roll back large-scale oil production cuts in September — Reuters
US authorities to simplify oil and gas extraction in the West

The US Department of the Interior has proposed changes to regulations governing oil and gas extraction on federal lands. The new approach will allow companies to combine production from multiple sites using a single drilling pad.

Yesterday at 11:14 AM
US authorities to simplify oil and gas extraction in the West
Chairman of Indian Oil Corporation expects crude prices to stabilize between $65 and $70

Arvinder Singh Sahney, chairman of state-owned Indian Oil Corporation, expects global oil prices to stabilize in the range between $65 and $70 per barrel through the end of the fiscal year.

Yesterday at 10:54 AM
Chairman of Indian Oil Corporation expects crude prices to stabilize between $65 and $70
Russia cut oil production to levels below OPEC+ quotas in June

According to Bloomberg data, Russia's oil production in June amounted to 9.022 million barrels per day. This is 28,000 barrels per day below the established limit, including mandatory compensatory cuts.

Yesterday at 10:15 AM
Russia cut oil production to levels below OPEC+ quotas in June
Oil rises as Saudi Arabia hikes Arab Light crude prices for Asia

Oil rose after Saudi Arabia raised its official selling prices for its benchmark Arab Light crude for Asian buyers. The move reinforced market confidence that it can absorb additional OPEC+ barrels, Bloomberg reports.

Yesterday at 6:04 AM
Oil rises as Saudi Arabia hikes Arab Light crude prices for Asia
United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 233K to 234.7K

An increase of the indicator value may contribute to the rise in quotes of WTI, Brent.

7 July

News on oil prices is not just information for specialists. This is an important signal for every experienced trader. This section of the website will help you understand when there’s a "Strong buy" signal for oil and when it is a "Strong sell" signal.

Oil price movements are more than just charts on a screen. It is one of the key drivers of the global economy. Understanding these dynamics helps in making rational decisions and adapting to changes.

What determines oil prices?

  • Global events. Political crises, conflicts, and agreements between producing countries have a huge impact on oil prices.
  • Supply and demand. When many consumers try to buy oil that is in deficit – the prices go up. Otherwise, when supply is greater than demand, the prices go down.
  • Russia and Saudi Arabia. These countries are among the leading oil producers. Their decisions on oil output have a direct impact on the global market.
  • OPEC. This is a group of oil-producing countries. Their agreements on production cuts are aided at stabilizing prices.
  • Alternative energy sources. The development of solar, wind, and other power stations can weaken the countries' dependence on oil and put pressure on its prices.
  • Electric cars. The increasing popularity of electric cars reduces the need for gasoline and, consequently, for crude oil.
  • Global tensions. Oil is a strategic resource. Geopolitical events can affect its production and prices.
  • Environmental constraints. Rising environmental awareness may reduce demand for oil, affecting its price.

Why follow the latest oil news?

  • To make informed investment decisions. Being aware of the oil industry news helps you make conscious choices.
  • To assess the impact on the economy. Oil prices can affect inflation, economic growth, and even our wages.