05
JUN 2024Rising Inventories Factor in OPEC+ Cut Extension
The recent decision by OPEC+ members to extend production cuts underscores their concern over the strength of market fundamentals, evidenced by the increase in global crude oil inventories.
At the June 2 meeting, OPEC+ was widely expected to maintain its policy of reducing supply to support oil prices.
01
MAY 2024Oil Market Grapples with Mixed Signals after Rally Fizzles
After a steady rise in the first quarter of 2024, oil prices have been stuck in a tight range the last few weeks without a clear narrative to provide direction.
There has been no shortage of stories involving geopolitics, OPEC+ policy, US sanctions, interest rates and China’s economy, but collectively the signals are mixed.
This marks a turnaround from the rally that defined the first three months of the year.
01
OCT 2018Case Study: Winds Shifting for Caribbean as Crude Oil Storage Hub
20
SEP 2018Canadian Crude Looks for a Home
These should be good times for oil producers.
Crude futures have stabilized around $70-$80 per barrel. Prices generally look high enough to make money, but not too high to cause demand destruction or invite megaprojects destined to flood the market for years to come.
The longer this Goldilocks scenario lasts the better for oilmen around the world.