Mid-Week Review

OPEC cancels April meeting, leaving price-boosting oil output cuts in place through June OPEC and other major oil producers on Monday canceled a meeting planned for April, leaving the alliance’s price-boosting production cuts in place until at least June. The group is delaying its decision because it expects the oil market to remain oversupplied through […]

Mid-Week Review

For China – One Belt, One Road, No Plan On Sept. 7, 2013, in a speech at Nazarbayev University in Astana, Kazakhstan, Chinese President Xi Jinping announced the launch of the One Belt One Road initiative, now widely referred to as the Belt and Road Initiative. This massive connectivity project, Xi said, would revive for […]

Mid-Week Review

Saudi Aramco says electric vehicles won’t heavily impact oil demand The world’s largest energy company says the electrification of vehicles isn’t anywhere near ready to overtake the traditional engine in the transport sector.  The transport industry accounts for more than half of oil demand and last year Morgan Stanley forecast that by 2025 there could […]

Mid-Week Review

Summary by Wayne Lee Goldman Sachs believes oil prices are about to go on a wild ride in 2019 Brent crude oil could easily rise into the $70-$75 per barrel trading range in the coming months, Goldman Sachs says.  The fundamental supply-and-demand outlook is being bolstered by technical support after oil prices hit three-month highs.  […]

Mid-Week Review

Russia’s Sechin raises pressure on Putin to end OPEC deal Igor Sechin, head of Russian oil giant Rosneft and one of Vladimir Putin’s closest allies, has written to the Russian president saying Moscow’s deal with OPEC to cut oil output is a strategic threat and plays into the hands of the United States.  The letter […]

Mid-Week Review

Saudis Pledge Deeper Oil Cuts in February Under OPEC+ Deal Saudi Arabia expects to reduce oil output once again in February and pump for six months at levels “well below” the production limit it accepted under OPEC’s oil-cuts accord, Energy Minister Khalid Al-Falih said.  The Organization of Petroleum Exporting Countries and allies including Russia, a […]

Mid-Week Review

Under New Management — Russia Now Runs OPEC At the December OPEC meeting in Vienna, Saudi Arabia was unable to convince OPEC members to agree to a deal on supply cuts on the first day of meetings.  Some members felt the Kingdom should bear the brunt of the cuts since they had increased their production […]

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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