On Wednesday, senior officials from the three leading OPEC producing countries—Saudi Arabia, the United Arab Emirates, and Kuwait—said the production increases delivered by the alliance were necessary.
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According to yesterday's Reuters report, analysts have slightly raised their oil price forecasts following the escalation of geopolitical tensions in the Middle East. However, growing energy supply from OPEC+ and moderate resource demand continue to put pressure on barrel prices.
1 July
Analysts at Morgan Stanley project that Brent oil prices will reach $60 per barrel by early next year. This price move is anticipated as the fuel market stabilizes and geopolitical risks subside, especially after the de-escalation of Iran-Israel tensions.
1 July
China’s oil import from Iran reached record highs
According to Reuters data, in June, China has increased crude oil import from Iran. These changes are explained by growing volumes of resource supplies and large-scale purchases of Middle Eastern barrels at discounted prices.
30 June
Oil prices fell further on Monday, extending their sharpest weekly decline in two years. The downward pressure was driven largely by aggressive bearish bets from hedge funds, reacting to expectations of increased production from OPEC+ nations, Bloomberg reports.
30 June
An increase of the indicator value may contribute to the rise in quotes of WTI, Brent.
27 June
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
27 June
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
27 June
Crude deliveries to US Strategic Petroleum Reserve will not be completed until year-end — Reuters
Scheduled deliveries of crude to the US Strategic Petroleum Reserve will not be completed until year-end as the site is now under maintenance, says the Department of Energy.
27 June
According to yesterday's Goldman Sachs analysts' report, the probability of the Strait of Hormuz oil supply disruptions following the easing of the Middle East geopolitical tensions stands at 4%. Market participants' concerns intensified amid escalating tensions between Iran and Israel.
27 June
Oil imports in Asia increased in the first half of 2025, driven by a sharp rise in June shipments, despite a weak start to the year. The region's fuel imports averaged 27.36 million barrels per day in the first six months of the year, up 620,000 barrels per day year-over-year.
26 June
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.
