Donald Trump's tariff policies could seriously damage the US oil industry. Drillers cut the number of active oil rigs last week to 583. Meanwhile, major companies are reassessing high-cost projects.
17 April
Oil market News
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Venezuela's PDVSA gears up for independence on key project following Chevron's exit
PDVSA has developed three plans to keep its largest joint venture, Petropiar S.A., running after Chevron leaves. The American multinational corporation is ceasing operations in the Orinoco Belt due to its US license expiring soon. This permit was issued back in 2022.
18 March
Oil prices remain muted despite positive economic data from China
Reuters reports that oil prices were little changed in early trading on Tuesday. Concerns over global economic growth and a potential de-escalation in Eastern Europe offset positive statistics from China and growing instability in the Middle East, which could affect the supply.
18 March
Bloomberg: oil producers are concerned about future of industry due to Donald Trump's policies
Donald Trump's return to the role of US President initially boosted the mood of oil producers. However, industry executives later expressed concerns about the future of the sector. The reason lies in the US leader's controversial policies and his intention to lower energy prices.
17 March
Bloomberg: oil rises amid China's new stimulus measures
Oil prices rose for a second consecutive day after the Chinese government announced plans to further stabilize its stock and real estate markets. The authorities also pledged measures to boost wages and address the country’s declining birth rate, Bloomberg reports.
17 March
Goldman Sachs reduced its 2025 oil price forecast. The bank's decision follows Donald Trump's tariff policy and its impact on the US economy, as well as OPEC+ plans to start unwinding its output cuts, starting from April.
17 March
An increase of the indicator value may contribute to the rise in quotes of WTI, Brent.
14 March
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
14 March
No change of the indicator value may reduce the volatility of the related markets.
14 March
Reuters expects Saudi Arabia's oil supplies to China to decline in April
Reuters expects Saudi Arabia’s oil supply to its biggest customer, China, to decrease next month to the lowest level in more than a year. The forecast drop is partly connected with maintenance at Chinese refineries owned by local Sinopec.
14 March
CERAWeek: use of AI will lead to faster and cheaper oil production
Artificial intelligence (AI) is speeding up the drilling pace in oil and gas, prompting firms to take a new look at sites that were once regarded as too challenging and expensive to develop. This was reported by industry executives at the CERAWeek conference in Houston.
14 March
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.
