On Tuesday, oil prices are declining due to pressure from concerns over escalating trade tensions. Market participants are worried about the impact of increasing friction between the US and EU on economic activity and fuel demand.
Oil prices jumped on Wednesday on escalating fears of global supply cuts. The upswing came after US President Donald Trump threatened to impose tariffs on countries importing fuel from Venezuela.
According to Reuters, loading of heavy crude in Venezuelan ports slowed significantly this week after the introduction of new US tariffs and the reduction of Chevron's fleet.
According to Reuters calculations, daily oil exports from Russia's western ports next month are expected to increase from March values by about 5%, or by 100 thousand barrels to 1.97 million barrels per day.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
According to Bloomberg, the UK could cover 50% of its oil and gas needs from domestic production by 2050 if the government implements appropriate policies. North Sea operators currently plan to extract 4 billion barrels of oil equivalent.
OPEC+ will increase production by 135,000 barrels per day, marking the second consecutive monthly increase. This move is part of a gradual cancellation of the production cuts implemented since 2022. Reuters reports on this strategy.
Analysts at Goldman Sachs report that for every $10 decline in Brent crude prices, production growth in non-OPEC+ countries slows by approximately 0.3 million barrels per day annually.
Oil prices barely changed on Tuesday after US President Donald Trump announced his intention to impose duties on countries buying oil and gas from Venezuela, Reuters reports.
According to data analyzed by Raymond James, this year will see the highest amount of new oil supply in a decade that will reach almost 3 million barrels per day. THowever, this scenario is only possible if oil prices recover.
According to Iraq's oil ministry undersecretary, the country intends to boost oil production to over 6 million barrels per day by 2029. He believes such a goal can be achieved through oil exploration and drilling activity.
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.
