OPEC

There has been a delay in the weekly crude oil data by a day, due to the 4th of July holiday in America. Regardless, that doesn't mean that there hasn't been a lot of activity in the oil sphere. The week started with OPEC+ failing to…
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Crude prices have been somewhat on the backfoot this week. Nonetheless, as experts predicted, crude prices staged a bit of recovery following a further drop in inventories in the US. However, it's not surprising that traders would be…
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Crude prices have been moving higher this week after snapping an initial move lower, following an unexpectedly hawkish tone from the Fed. Even though the initial move in WTI was easily attributable to the strengthening of the dollar;…
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Oil Hits Three Year Highs Volatility in the oil market continued this week. Crude broke out to its highest level since October 2018, piercing above the 65.40 level briefly, before reversing lower. Oil prices have been rallying steadily…
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The start of March posed some difficulties for crude prices, as they paired back some of the gains from the long run in February. Of course, that might just be profit-taking, as the run-up has been pretty long. Or there might be an…
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Crude oil prices have started 2021 on a strong footing with prices surging higher in response to a firmly bullish report from the Energy Information Administration. Inventories  Drop The EIA reported that in the week ending Friday,…
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The meeting of OPEC's ruling commission hasn't even started yet, and there have already been issues. It was originally supposed to happen on Monday and Tuesday this week, with a declaration at the end of Tuesday's session. However,…
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Last Week’s Highlights UK Economy Contracts the Most Since 1955 The latest statistics from the United Kingdom showed that the gross domestic product fell at the fastest pace since 1955 in the second quarter of this year. Data from the…
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Crude Inventories Plummet The latest report from the Energy Information Administration this week offered some hope for crude bulls. The EIA reported the largest weekly crude draw of the year in the week ending July 24th. US crude…
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Last Week’s Highlights China’s Manufacturing Activity Rebounds In what seems like a scenario that's too good to be true, China’s manufacturing activity for March rolled back into expansion territory. This comes right after the data for…
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