Week in Review – January 8, 2021

It’s certainly been a crazy week, filled with headlines with direct implications for oil fundamentals. This week brought a major oil production announcement, a political shift in the US Senate, and violent protests at the US Capitol. Let’s break down some of the top headlines this week and the impact on oil 1. Saudis Announce […]

Oil Flat amid Slew of OPEC, Demand, and Political News

Yesterday, the OPEC+ production agreement continued to surprise markets when Saudi Arabia announced they would voluntarily shoulder an additional 1 MMbpd in cuts. Under the new arrangement, Russia and Kazakhstan will slightly increase their output (by a paltry 75 kbpd) while other producers maintain current cuts.  The announcement propelled WTI crude prices briefly above $50/bbl, […]

Weekly Round-up – January 6, 2020

EIA’s Best of 2020 Read the highlights of a hectic year from the pre-eminent governmental energy agency. Click Here to read more from the EIA. Oil Tops $50 With Saudis Pledging a Surprise Unilateral Cut Oil surged to its highest since February after Saudi Arabia pledged to voluntarily cut output by an extra 1 million […]

Senate Passes USMCA, EIA Forecasts Rising Prices in H2 2020

This week has been focused heavily on trade, with the US and China signing Phase One of a trade deal on Wednesday and the US Senate passing the US-Mexico-Canada Agreement (USMCA) yesterday. We’ve reported on the USMCA before when the House ratified the agreement, which was expected to be the largest hurdle for the deal. […]

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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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