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 fall in quotes of WTI, Brent.
4 April
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
4 April
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
4 April
Goldman Sachs cuts oil price forecast as OPEC+ ramps up production
Goldman Sachs has downgraded its 2025 price forecast for Brent crude by 5.5% to 69 per barrel and for WTI prices by 4.3% to $66. The bank attributes this adjustment to mounting risks from OPEC+ production hikes and escalating trade tensions stemming from US tariff policies.
4 April
Eight OPEC+ members agreed to accelerate their phase-out of production cuts in effect since 2022, approving a 411,000 barrel per day output increase for May. The organization had initially planned a 135,000 barrel per day production hike.
4 April
New US tariffs trigger sharp weekly decline in oil prices
Oil prices extended their decline in early Asian trade on Friday, marking their steepest weekly drop in several months. The new US import tariffs have stoked concerns over weakening demand, Reuters reports.
4 April
Black Sea oil exports are subject to additional Russian restrictions
An oil export hub in Novorossiysk has been shut down for 90 days due to Russian government orders. The decision comes just a day after OilPrice.com reported that two of the three moorings at the major terminal for Kazakh oil had been temporarily halted.
3 April
Oil prices fell on Thursday after President Donald Trump announced stringent new tariffs on imports from top trading partners, including the EU and China. Bloomberg reports the duties could dampen global energy demand.
3 April
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
2 April
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
2 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.
