Oil market News

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Barclays analysts see robust demand for oil in China

According to Barclays analysts, oil demand in China remains resilient despite a surge in electric vehicle sales over the past few years. Meanwhile, strong consumption figures for the first half of the year suggest that the demand outlook could be raised.

Today at 9:38 AM
China unlikely to resume US energy purchases despite trade truce — Reuters

Markets welcomed the US and China’s decision to pause tariffs for 90 days and negotiate. However, the move is unlikely to convince Beijing to resume buying US energy commodities, according to Reuters.

13 May
China unlikely to resume US energy purchases despite trade truce — Reuters
Oil export of Kazakhstan via CPC will reduce in May — Reuters

According to recent Reuters reports, the volume of oil export from Kazakhstan via the Caspian Pipeline Consortium (CPC) is likely to decline considerably in May. Daily crude shipments from Russian Black Sea port of Novorossiysk are expected to drop to 1,5 million barrels per day (bpd).

13 May
Oil export of Kazakhstan via CPC will reduce in May — Reuters
Reuters: oil prices fall amid rising supply concerns

On Tuesday, oil prices dropped from a two-week high as concerns over rising supplies weighed on the market. This decline came despite earlier optimism among traders following a pause in US-China trade tensions after both countries temporarily rolled back import tariffs, Reuters reported.

13 May
Reuters: oil prices fall amid rising supply concerns
OPEC+ production increases prevent larger rise in oil prices — BCA Research

Recent developments in trade relations between the US and China are positively impacting oil prices. However, year-on-year dynamics of the prices lagged behind last year's performance. BCA Research attributes the decline to the actions of Saudi Arabia as the OPEC+ leader.

12 May
OPEC+ production increases prevent larger rise in oil prices — BCA Research
Increase in China’s oil imports early this year not driven by demand growth — Reuters

China boosted its crude oil imports in the first few months of this year. However, according to Reuters, this jump reflects inventory building rather than an actual surge in demand.

12 May
Increase in China’s oil imports early this year not driven by demand growth — Reuters
Shell postpones startup of two wells at Gulf of Mexico's Perdido field

Shell has announced a delay in the startup of two wells at the Great White project of the Perdido field. According to the company's most recent information, they will be commissioned by the end of the year instead of the initially planned April.

12 May
Shell postpones startup of two wells at Gulf of Mexico's Perdido field
Exporters sell Venezuelan oil for China as Brazilian crude — Reuters

According to the TankerTrackers vessel monitoring service, over the past year, suppliers have relabeled more than $1 billion worth of Venezuelan oil cargoes for China as crude from Brazil.

12 May
Exporters sell Venezuelan oil for China as Brazilian crude — Reuters
Bank of America warns OPEC+ output hikes will weigh on oil market long-term

The oil market could soon face long-term pressure due to oversupply, according to the Bank of America analysts. They point to OPEC+’s planned production hikes, which threaten to exacerbate an already glutted market.

12 May
Bank of America warns OPEC+ output hikes will weigh on oil market long-term
Oil gains amid progress in US-China trade talks

Oil prices rose on Monday morning as the US and China reported progress in trade talks. This boosted investor expectations for a resolution of tensions between the world’s two biggest crude consumers.

12 May
Oil gains amid progress in US-China trade talks
United States. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 177.2K to 175.4K

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

9 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.