Browsing Tag

Saudi Arabia

What to Expect from Controversial OPEC+ Meeting

Daniel John Grady Nov 29, 2023 43 0

OPEC will meet to discuss production cuts tomorrow, with the focus on the preceding JMMT meeting which will provide recommendations on what to do. The meeting got extra attention after it was delayed from last weekend amidst rumors that…
Read More

Fundamental Analysis

Latest WTI Move: Correction or Rebound?

Daniel John Grady Aug 18, 2023 65 0

The oil market has been showing some confusing signals of late, which has contributed to extra volatility over the summer. Yesterday was a microcosm of that, with a couple of surprising events. Citigroup analysts advised traders to short…
Read More

Fundamental Analysis

Crude Hits Fresh 2019 Highs

Stavros Tousios Apr 22, 2019 663 0

WTI prices spiked a few hours ago following a report that US President Donald Trump wants waivers to countries that import Iranian oil to end. US oil rose to $66.60 a barrel after a Washington Post article hit the wires on Monday. It…
Read More

Fundamental Analysis

Russia and Saudi Arabia agree to raise oil production

Orbex Oct 8, 2018 633 0

OPEC's top oil-producing nation Saudi Arabia and Russia negotiated a deal in private in September to raise the oil output. The move comes amid calls from the U.S. President Trump urging Saudi Arabia to do more amid higher prices. Further…
Read More

Fundamental Analysis

OPEC agrees to raise production by one million barrels

Orbex Jun 27, 2018 400 2

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…
Read More

Fundamental Analysis

Oil prices rise on US withdrawal from Iran nuclear deal and bullish fundamentals

Orbex May 16, 2018 525 8

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…
Read More

Fundamental Analysis

WTI Crude Oil Rises due to Bullish Saudi Price Target

Orbex Apr 24, 2018 293 1

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…
Read More

Fundamental Analysis

Tensions To Rise Further After Qatar Rejects Ultimatum

Nour Eldeen Al-Hammoury Jul 6, 2017 278 0

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…
Read More

Fundamental Analysis

Russia and Saudi Arabia to Extend The Output Cut

Nour Eldeen Al-Hammoury May 17, 2017 380 0

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…
Read More

Technical Analysis

Oil markets edgy ahead of OPEC meetings in May

Orbex Apr 25, 2017 282 0

Oil prices came under pressure last week as the Saudi energy minister Khalid Al-Falih said that it was too early to talk about extending the oil output cuts that were implemented in January this year. His comments pushed oil prices lower…
Read More

Older Posts