OPEC Raises Oil Supply Forecast

The oil market remains under pressure this week following the latest report, where OPEC raises oil supply forecast stating it expects supply to surge over 2018. While the group acknowledges that oil demand is set to rise over the year, it expected rising US output to cause a disproportionate rise in oil supply. The latest OPEC report showed t...

2018-03-23 James Harte Read more
Driving Crude Oil Price

Oil prices have now broken out to levels not seen since summer 2014 and market participants are now questioning whether the move has further to go or if a correction lower is in store. So what are the forces that are driving crude oil price action?   Crude Oil Inventories Falling One of the key factors driving crude oil price has been ...

2018-01-25 James Harte Read more
2017 Market Events Roundup

The year 2017 was a very eventful one, and a year when geopolitical uncertainties drove market trends globally. The year saw a massive surge in the US stock markets, ahead of the proposed tax cuts, a slump in the value of the British pound due to the Brexit drama, and surprising growth for the European and Asian markets. South Africa went and ca...

2018-01-17 Orbex Read more
crudeoilopec

The much anticipated two day OPEC meeting concluded last week. As widely expected, OPEC and its allies (outside the OPEC group) decided to maintain oil production cuts to the end of 2018. A day after the talks in Vienna on Thursday, the decision came showing the consensus agreement between the OPEC members, especially between Saudi Arabia and...

2018-01-25 John Benjamin Read more
FX Week Ahead 27.11.17

FX Week Ahead 27.11.17 Economic data next week will be focusing on the U.S. inflation figures amid a rather slow week. Traders will also focus on the confirmation hearing for the proposed Fed Chair, Jerome Powell. His nomination is expected to pass without any surprises. The U.S. tax reforms vote will also be held next week putting most of ...

2018-03-12 John Benjamin Read more
Crude oil prices

Oil Falls Despite Ongoing Middle East Tension Oil prices have fallen back over recent days despite the continued tension in the Middle East as rising rig counts and higher US shale output have created downward pressure. Rig counts rose 9% last week while, according to the latest EIA report, shale output is forecast to grow at 80,000 barrels per...

2017-12-12 James Harte Read more
Saudi Arabia's Deputy Crown Prince and Minister of Defense Mohammed bin Salman speaks with Secretary of Defense Ash Carter at the Pentagon June 16, 2016. The two leaders met to discuss matters of mutual importance. (DoD photo by Senior Master Sgt. Adrian Cadiz)(Released)

Saudi Crackdown Fuels Rally Oil markets were subject to fresh volatility on Tuesday in response to a political purge in Saudi Arabia which saw the government cracking down on several princes and ministers accused of corruption.  This move is seen as heightening geopolitical tensions in the region, leading to the rally in Oil. As Saudi Arabia is...

2017-12-12 James Harte Read more
OPEC_Crude oil

OPEC Output Falls by 80K barrels Per Day Oil prices continued to rise over the first part of the week fuelled by the latest data which shows that production among OPEC members fell over October. A survey compiled by Reuters shows that oil output among the OPEC bloc declined by 80k barrels per day over the last month mainly driven by a fall in e...

2018-01-25 James Harte Read more
Oil refineries

Southern US Damage By Storms Oil prices fell at the end of last week as severe weather disruptions in the US threaten to deepen the supply glut that has weighed on prices over the last few years. Hurricane’s Harvey and Irma have devastated large parts of the Southern US including Texas and South Carolina meaning there will be a large downshift ...

2017-09-11 James Harte Read more
VIENNA, AUSTRIA, DECEMBER 19, 2015: view of the main lobby of the OFID - OPEC fund for international development

The main question everyone asks nowadays is why are crude oil prices falling? Many traders are asking the same question over and over again, and so far, there is no logical answer for such question. If you are reading this article and you are asking it too, you might get the right answer, even if you can't agree with it. Despite the fact that ...

2017-08-30 Nour Eldeen Al-Hammoury Read more