opec meeting

All eyes were on Vienna last week as the OPEC nations and Russia met over two days for the semi-annual OPEC meeting. The main focus of the meeting was whether the OPEC nations and Russia could agree to reaching a deal to plug the void left by Iran. Iran was cut off from the Oil markets following the U.S. Trump administration pulling out of th...

2018-06-27 John Benjamin Read more
opec meeting

The upcoming OPEC meeting this week has taken on a great deal of focus given recent developments. Last week Russian and Saudi Arabian leaders met alongside the opening game of the World Cup to discuss plans to increase oil production while maintaining the petro-alliance forged in 2016. The proposals are centred around forming an OPEC+ group that...

2018-06-22 James Harte Read more

While most of the world was concentrating on the football last night, with Saudi Arabia and Russia opening the 2018 world cup tournament, the two countries were also meeting for another important reason. Alongside the sports, President of Russia, Vladimir Putin, met with Saudi Arabian Crown Prince, Mohammad Bin Salman, for talks aimed at boostin...

2018-06-15 James Harte Read more
Oil prices rise on US withdrawal from Iran

Crude oil prices rallied last week to hit a three and a half year high after the U.S. President Donald Trump announced that Washington was pulling out of the 2015 Iran nuclear deal on Tuesday. Speaking at a brief press conference, Trump said that the U.S. administration will also be imposing more strict economic sanctions on the country. It g...

2018-05-16 John Benjamin Read more
WTI Crude Oil Rises due to Bullish Saudi Price Target

Crude oil prices were in for a bumpy ride last week, as surprising comments from Saudi Arabia helped to keep the bullish momentum going. Oil prices were already surging strongly earlier in the week following tensions surrounding Syria and the attempted missile strikes against Riyadh. While the markets at large brushed aside the weekend airstr...

2018-04-24 John Benjamin 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
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
OPEC_Oil cut_1705

Abdalla Salem El-Badri, Secretary General of OPEC Once again, OPEC and Non-OPEC producers have succeeded in stopping Crude Oil prices from cracking lower. A few days ago, when both Brent and WTI Crude Oil were trading at the lowest level of this year, Russia and Saudi Arabia announced that they are leaning toward extending the current deal for...

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