OPEC agrees to production cut

Last week, Crude Oil tumbled despite the huge decline in the US Crude Oil Inventories, which posted the biggest weekly decline since September of last year. Crude Oil prices ignored these figures and continued to decline further. Brent touched $50, and WTI slid to 46.50’s. Some OPEC reports came out, and that led to a notable rally. Brent close...

2017-08-23 Nour Eldeen Al-Hammoury Read more
OPEC_Crude Oil

Crude Oil managed to recover from June’s lows all the way to today’s high, supported by some OPEC and Non-OPEC members remarks, in addition to some inventories data. Despite all the talk about the production cut deal, there is something not right here, and it looks like there is someone is cheating, whether from OPEC or Non-OPEC members. OPEC ...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Qatar_Crude Oil_0607

In the past two weeks, tensions were rising significantly between Qatar and some Arab countries, mostly GCC countries. The Arab countries including Saudi Arabia, UAE, Bahrain, and Egypt issued an ultimatum to Qatar, giving 10 days to react to these demands. Otherwise, threatened Saudi Arabia,  things will escalate further. Qatar did not respon...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Crude Oil prices_2806

After more than three weeks of consecutive declines in Crude Oil prices, including Brent and West Texas Crude, it looks like that the time has come for a short-term retracement. Both Crudes, Brent & WTI has been rising off its lows for five days, including today’s trading. However, such move is USD driven and is not connected with strong oi...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Crude oil_OPEC_2206

Crude Oil prices continued to decline further despite the fact that OPEC and Non-OPEC members have been active in the media, trying to increase the hopes of stabilizing the market. However, things have just got even more interesting. Crude Oil Enters Bear Market Both West Texas Crude and Brent Crude have entered a bear market status, despit...

2017-07-26 Nour Eldeen Al-Hammoury Read more
crude_Orbex_OPEC

It's been almost a month since the OPEC members met and decided to extend December’s deal for another 9 months until March of next year. Since then until now, Crude Oil prices did not even rise above the price at which OPEC has announced that extension. In fact, Crude Oil prices are now below the low of the year, posting the lowest level since ...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Qatar_Crude Oil_0606

During the early morning hours of Monday, the first trading day of the week, the Middle East woke up to a bunch of breaking news, leading Crude Oil prices to rise by 1%. On Monday, many Arab countries decided to cut their ties with Qatar on claims that Qatar is supporting international terrorism. The decisions were tough, as many countries brok...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Crude Oil_WTI_0106

If you look at Crude Oil charts, including Brent and WTI whether on the daily or the hourly chart, you can definitely see that nothing has improved. It’s actually getting worse. Since the decision of OPEC last week to extend December’s deal for nine months, the prices have lost more than 3% and still sliding. Brent is close to $50 barrier while...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Crude Oil

If you were following and reading our previous article, you should not be surprised about why Crude Oil prices lost more than 2% last week. Despite the fact that OPEC has agreed to extend the output cut for more than six months, Oil failed to rally. OPEC even agreed to extend the deal for nine months until March of next year. Yet, Oil failed to...

2017-07-26 Nour Eldeen Al-Hammoury Read more
OPEC_Crude Oil

Yesterday, Crude Oil prices advanced and closed the day higher, posting the highest level since the beginning of this month. The rally, of course, is supported by a lot of remarks by many of oil producers (OPEC and Non-OPEC) regarding the highly possible deal, which should be announced later today. According to the latest news, there is a poss...

2017-07-26 Nour Eldeen Al-Hammoury Read more