OPEC and its allies agreed on Thursday to ease oil output cuts from January by 500 MBbl/d, with more yet-undefined increases on an ongoing basis. Before the meeting, the market…
Crude oil prices in 2021 face an uphill battle with demand forecast to improve gradually and OPEC holding plenty of dry powder Our view on crude oil prices is neutral…
WTI decline of more than $3 led by Saudi Arabia’s shrinking official selling prices It’s a complicated day for oil, with multiple bearish factors stacking up over the long weekend.…
During its Joint Ministerial Monitoring Committee (JMMC), the Organization of the Petroleum Exporting Countries (OPEC) and its allies called on members that are producing above target volumes to reduce output…
Increased refinery activity and fewer imports contributed to a large 10.6 MMBbl decrease in crude stockpiles last week. Last week's draw of 10.6 MMBbls was the largest of the year,…
The cartel has enough spare capacity to match demand barrel for barrel through 2021. They could slowly open the taps on supply as demand slowly returns to pre-COVID-19 levels. This…
The cartel's analysis (linked below) assumes rapid demand recovery Source article (opens in new tab): OPEC Will Relax Crude Output Cuts, Betting On Rebound In Economic Growth OPEC+ decided to…
Saudi Arabia and OPEC+ are considering an August production increase, amid a recovery in demand Select members of the producer group will meet on Wednesday July 15 to discuss their…
When prices move little, we are encouraged to keep our Factors unchanged. Still, a few are worth some attention. We still acknowledge the combination of OPEC+ Cuts, Production Decline, and…