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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A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
8 April
Oil could fall below $40 — Goldman Sachs
Goldman Sachs analysts have warned of a possible decline in Brent oil prices below $40 per barrel by the end of 2026 under negative circumstances. Such a forecast is possible with a slowdown in global GDP growth and OPEC+ refusal to cut production.
8 April
Citi Research lowered its Brent crude price forecast for the next three months to $60 per barrel. The change in the outlook was driven by Donald Trump's new tariffs. Amid escalating trade tensions, oil prices fell by almost 4% earlier this week.
8 April
Heavy US tariff sell-off pushes oil prices up 1%
Oil surged by more than 1% on Tuesday, recovering from a significant sell-off that had impacted the energy market in recent sessions. The initial slump in prices was triggered by concerns over US trade tariffs, which could reduce fuel demand and lead to a global recession.
8 April
Bloomberg: oil traders hedge against recession with record options bets
The oil options markets broke out of a months-long stupor last week after OPEC+ increased production amid a global economic downturn. As a result, oil prices plummeted to a four-year low, Bloomberg reports.
8 April
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
7 April
Shell reduces gas production forecast following unplanned maintenance at Australian facilities
Shell anticipates lower-than-expected gas production in the first quarter 2025 due to unplanned maintenance at its Australian facilities. Shell forecasts integrated gas production of 910,000–950,000 barrels of oil equivalent.
7 April
Goldman Sachs again lowered its forecasts for the average annual price of Brent and WTI oil in 2026. The investment bank cited growing recession risks and the possibility of a larger-than-expected increase in supply from OPEC+.
7 April
Saudi Arabia cuts May oil prices for Asian buyers ahead of OPEC+ production hike
Saudi Arabia, the world’s leading oil exporter, cut crude prices for buyers in Asia in May to a four-month low. The move was driven by the decision of OPEC+ to speed up the increase in oil output.
7 April
Oil fell more than 3% on Monday, Reuters reports. Escalating trade tensions between the US and China added to fears of a global recession that could reduce demand for crude.
7 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.
