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Saudi oil exports to China will surpass two-year high in August—Reuters sources

According to five different trade sources cited by Reuters, Saudi Arabia's crude oil exports to China will rise to their highest level in two years in August.

11 July
United States. API Weekly Crude Oil Stock. The value of the indicator has decreased from 2.499M to -4.236M

A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.

28 May
Investment in Norway's oil and gas sector to hit record high in 2025 — SSB

The Norwegian Statistical Office (SSB) says they're expecting a record-breaking level of investment in the country's oil and gas sector in 2025. Revised estimates indicate that total capital inflows are likely to hit 269.1 billion Norwegian kroner (about $26.46 billion).

28 May
Investment in Norway's oil and gas sector to hit record high in 2025 — SSB
Oil prices rise amid Trump administration’s ban on Chevron's crude export from Venezuela

The energy market remains volatile. On Wednesday, oil prices rose as the US tightened restrictions on exports of raw materials from Venezuela. In particular, the ban has affected one of the largest US producers, Chevron.

28 May
Oil prices rise amid Trump administration’s ban on Chevron's crude export from Venezuela
Saudi Arabia may cut July prices for oil supplies to Asia — Reuters

Saudi Arabia may lower the price of its oil for Asian buyers in July to the lowest level in six months due to an increase in OPEC+ supply. This information comes from industry sources surveyed by Reuters.

28 May
Saudi Arabia may cut July prices for oil supplies to Asia — Reuters
New oil field discovered in Saudi Arabia-Kuwait neutral zone

Saudi Arabia and Kuwait announced the discovery of a big oil field in the so-called Partitioned Neutral Zone, which is located on the border between the two countries. The new site is just five kilometers north of the Wafra field.

27 May
New oil field discovered in Saudi Arabia-Kuwait neutral zone
Demand for oil-bearing land in Canada is sliding amid weak market prospects

According to authorities of the Canadian province of Alberta, the average price for leasing land for oilfield development has fallen to just above $560 per hectare this year. This is 18% below the 2024 figure.

27 May
Demand for oil-bearing land in Canada is sliding amid weak market prospects
OPEC+ moves July oil production meeting to May 31

According to Bloomberg, OPEC+ moved the videoconference meant to determine July oil production levels for eight key member countries by one day. The meeting is now scheduled for May 31.

27 May
OPEC+ moves July oil production meeting to May 31
Oil prices decline due to possible OPEC+ production increase

On Tuesday, crude oil prices are declining moderately as market participants assess the possibility of a decision to further increase oil production at the OPEC+ meeting later this week.

27 May
Oil prices decline due to possible OPEC+ production increase
Oil prices rise after US–EU trade talks deadline extended to July

On Monday, oil prices rose on the back of Donald Trump's decision to grant an extension of the deadline for trade negotiations with the European Union. That contributed to easing of concerns over tariffs against the bloc that may damage the world economy and the volumes of fuel consumption.

26 May
Oil prices rise after US–EU trade talks deadline extended to July
United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 185.3K to 186.4K

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

23 May

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.