Oil prices – THE OVAL CIRCLE

Oil prices hit 10-month high as US dollar weakens & Saudi cuts loom on horizon

Posted on January 13, 2021January 13, 2021By Editor

Global prices for crude were pushed to new multi-month highs as the recent bounce by the US dollar appeared to lose its steam, increasing the appeal of commodities priced in the currency. … Read More >Oil prices hit 10-month high as US dollar weakens & Saudi cuts loom on horizon

Oil rallies to 11-month highs on surprise Saudi cuts & US crude supply drop

Posted on January 10, 2021January 10, 2021By Editor

Saudi Arabia’s pledges of voluntary output cuts and the earlier decline in US oil inventories have continued to boost energy markets, bringing crude prices to the highest levels since February 2020. … Read More >Oil rallies to 11-month highs on surprise Saudi cuts & US crude supply drop

Oil rises to multi-month highs as OPEC+ likely to follow current production policy

Posted on January 5, 2021January 5, 2021By Editor

Oil prices reached the highest levels in nearly a year on expectations that OPEC and allied producers led by Russia may keep the production quota in February unchanged amid weak oil demand caused by the global pandemic crisis. … Read More >Oil rises to multi-month highs as OPEC+ likely to follow current production policy

Russian stock market at all-time high as ruble shows stable growth

Posted on January 5, 2021By Editor

The Moscow stock exchange (MOEX) index reached a new all-time high on Monday, as Russia’s national currency, the ruble, opened the first trading day of 2021 with an upward move, triggered by rising oil prices. … Read More >Russian stock market at all-time high as ruble shows stable growth

Time for record global oil demand may have already passed, Russia says

Posted on December 7, 2020December 7, 2020By Editor

Days of peak oil consumption might be over for the global economy and the trend may impact Russia’s budget revenues, the country’s Deputy Finance Minister Vladimir Kolychev has warned. … Read More >Time for record global oil demand may have already passed, Russia says

OPEC+ likely to prolong existing oil cuts despite rising prices – media

Posted on November 29, 2020November 29, 2020By Editor

Members of the Organization of Petroleum Exporting Countries (OPEC) and their allies led by Russia, known as OPEC+, may further hold back oil supplies amid concerns over demand. … Read More >OPEC+ likely to prolong existing oil cuts despite rising prices – media

Oil prices surge amid hopes coronavirus vaccine means return of global travel

Posted on November 11, 2020November 11, 2020By Editor

Crude prices continued to climb higher on Wednesday following the news of potentially effective Covid-19 vaccines developed in Russia and the US. Brent crude soared above $45 a barrel, marking a 15 percent increase from last week. … Read More >Oil prices surge amid hopes coronavirus vaccine means return of global travel

Libya throws ONE MILLION barrels of oil into already oversupplied market

Posted on November 8, 2020November 8, 2020By Editor

Libya’s crude output has exceeded one million barrels per day since its oil industry came back online. However, the inflow may create shockwaves in the global oil market as demand has not fully recovered from the Covid-19 crisis. … Read More >Libya throws ONE MILLION barrels of oil into already oversupplied market

Oil investments are drying up as crude demand falters

Posted on November 3, 2020November 3, 2020By Editor

The COVID-19-induced shortage in key oil investments could spell trouble for the entire industry for years to come. … Read More >Oil investments are drying up as crude demand falters

Oil prices hit 4-month low over fear new coronavirus lockdowns will crush demand

Posted on October 30, 2020October 30, 2020By Editor

Crude prices fell for the second straight session, plunging by nearly four percent on Wednesday as rapidly rising numbers of Covid-19 infections worldwide spur oversupply concerns. … Read More >Oil prices hit 4-month low over fear new coronavirus lockdowns will crush demand