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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According to JPMorgan experts, the current policy of the Trump administration may lead to a significant decline in oil prices. Analysts forecast a further drop of WTI below $60 in August and down to $55 per barrel towards the end of the year.
15 April
OPEC has lowered its outlook for world oil demand rise in 2025 and 2026 by about 100,000 barrels per day due to US President Donald Trump's trade policy negatively affecting energy consumption.
15 April
Russia's energy plan outlines slight change in oil production by 2050
According to Russia's energy strategy, the country's target for oil production is set at 540 million tons for the end of this decade and for mid-century. This suggests producing about 10.84 million barrels per day. Such a value is only slightly higher than the figures of 2023.
15 April
Oil prices rise as Donald Trump eases tariff policy
Oil prices are trending higher on Tuesday, Reuters reports. This growth is supported by new trade exemptions announced by US President Donald Trump, as well as an increase in imports of the commodity to China amid expected tighter supply from Iran.
15 April
China’s oil imports rose steeply from January and February and grew 5% on an annual basis in March. According to China’s General Admission of Customs, last month the country’s crude imports totalled 51.14 million tons, or 12.1 million barrels per day.
14 April
Oil prices decline amid concerns over slowing global economic growth
Oil prices are moderately declining due to concerns over escalating trade tensions between the US and China, the threat of slowing global economic growth, and a possible drop in fuel demand. On Monday, Brent and WTI crude oil benchmarks pulled back from Friday's highs.
14 April
Goldman Sachs projects oil prices will be falling until the end of this year and through next year on increasing risk of global recession and a supply hike from OPEC+. WTI and Brent crude will average $59 and $63 per barrel, respectively, through the end of 2025.
14 April
A decrease of the indicator value may contribute to the fall in quotes of WTI, Brent.
11 April
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
11 April
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
11 April
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.
