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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Activity in the US oil and gas industry increased in the first quarter, but executives have grown more pessimistic due to the Trump administration’s tariffs and trade policies, according to a Federal Reserve Bank of Dallas survey. The poll included 130 firms from Texas, New Mexico, and Louisiana.
27 March
Oil continues to gain on concerns over tighter supply
Reuters reports that oil prices continue to rise on Thursday on concerns over tighter global supply caused by US President’s intentions to impose tariffs on Venezuelan crude buyers.
27 March
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
26 March
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
26 March
UK North Sea oil regulator raises its forecast for investment and production
Britain's North Sea Transition Authority, which regulates oil and gas production in the region, has raised its investment and output forecasts following unexpectedly strong results for 2024.
26 March
Oil prices spike on concerns over global supply cuts
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.
26 March
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.
26 March
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.
26 March
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
25 March
UK could meet half of its oil needs from domestic sources by 2050
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.
25 March
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.
