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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An increase of the indicator value may contribute to the rise in quotes of Gasoline, WTI, Brent.
2 April
An increase of the indicator value may contribute to the rise in quotes of Gasoline, WTI, Brent.
2 April
In March, OPEC+ continued its strategy of limiting oil production, with notable cuts from Iraq and Nigeria. According to Bloomberg, the group reduced its overall output by 110,000 barrels per day (bpd), bringing the total to 27.43 million bpd.
2 April
CNPC think tank predicts China's oil consumption to grow by 1.1% in 2025
China's oil consumption will surge by 1.1% to 765 million tons in 2025 amid economic growth and rising demand for petrochemical products. This was announced by a think tank affiliated with China National Petroleum Corp (CNPC).
2 April
Oil prices remain steady ahead of new US tariffs announcement
On Wednesday, oil prices stabilized after decreasing at the yesterday's session amid concerns about new US tariffs. They will be announced today. As noted by Reuters, tougher trade policy of the United States may slow down the global economy and curb demand for crude oil.
2 April
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
1 April
In the opinion of economists surveyed by Reuters, oil prices will remain under pressure in 2025 due to US tariffs and slower economic growth in major countries such as India and China. These circumstances will have a negative impact on energy consumption.
1 April
Macquarie sees oil falling to $60 on supply surplus
Macquarie forecasts oil prices could slump to $60 per barrel—a level not seen since 2021—as markets remain oversupplied. Crude oil demand is weakening amid escalating global trade tensions, just as OPEC+ prepares to boost output this month.
1 April
Oil prices maintain strong gains amid Donald Trump’s trade tariffs
Oil prices stabilized after Monday’s surge, which was triggered by US President Donald Trump’s threat to restrict Russian energy supplies. Oil markets are increasingly pricing in potential disruptions to Russian crude supplies.
1 April
Indian refiners have rushed back to the market to secure alternative crude supplies after US President Donald Trump’s proposed restrictions on Russian oil sparked fears of supply disruptions, Bloomberg reports.
1 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.
