Iraq won’t agree to new oil production cuts, minister says
There could be some fireworks in the oil market at the weekly open. Iraq’s oil minister made a comment suggesting they won’t agree to any additional cuts at the June…
Read More »Oil Update: OPEC Monthly Report Points to Tighter Oil Market, Cuts Continue
Record US oil production partially offsets OPEC’s output drop but the global oil market is set to get tighter into year end
Read More »Events to Look Out for Next Week
A very fickle week is now over, with a pretty gloomy political and economical outlook. Recession angst had diverse, but unsurprising, market impacts. Worries over a meaningful downturn in growth…
Read More »Oil market hold near 7-year high
USOIL is trading just over $78 per barrel, while UKOIL has spiked to $82.70, both above the highs seen yesterday after OPEC and its allies confirmed that they will be…
Read More »Oil Market recovery in doubt
Narrow ranges have been ensuing, with a theme of yen firmness amid a backdrop of softening stock markets. Stock markets remained under pressure during the Asian part of the session…
Read More »USOil – Reduced Production and Economic Recovery
Crude Oil Looks Neutral USOIL trades have been in the range of $39.20 – $41.90 since the beginning of July. Various factors drive the oil market, all of which eventually…
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