Tag: Supply Cuts

Increasing Pessimism Surrounding OPEC Deal

Increasing Pessimism Surrounding OPEC Deal

Oil prices manage a moderate recovery in today's trading session, climbing back from two consecutive sessions of considerable decrease on fears of member nations failing to comply to designated production cuts, in the first month of the supply-cut deal's implementation. The once stable OPEC deal is facing increased pessimism as concerns about true supply cuts … Continue reading Increasing Pessimism Surrounding OPEC Deal

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Oil Prices Fall on Fears of U.S. Shale Production Increase Combined with Weariness of OPEC Deal

Oil Prices Fall on Fears of U.S. Shale Production Increase Combined with Weariness of OPEC Deal

Despite optimism experienced in previous trading sessions regarding the OPEC supply cuts ironed out in the November oil production deal last year, fears of a U.S. shale production increase combined with an apparent rise is scepticism regarding OPEC's capacity to maintain the promised production cuts have pushed oil lower. Brent crude oil, the global benchmark had … Continue reading Oil Prices Fall on Fears of U.S. Shale Production Increase Combined with Weariness of OPEC Deal

Volatility in Oil Shows Combined Weariness and Optimism of OPEC Cuts

  Traders remain sceptical that all constituent members of OPEC will adhere fully to the OPEC proposal, including non-OPEC members, to cut global oil production by 2% and return the deeply saturated market back to a state of relative balance, or even deficit. Signed at the end of November 2016, the deal promised significant supply … Continue reading Volatility in Oil Shows Combined Weariness and Optimism of OPEC Cuts

Brent Crude Oil Reaches 18-Month High

8Despite moderate scepticism amongst analysts, concerned about the capacity of OPEC to deliver on promised supply cuts, Brent crude, the global oil bench mark, rose 2.15% to $58.04 a barrel on London's ICE Futures exchange, marking a 18-month high. Fuelled by optimism on the strength of the OPEC deal designed to reduce global stockpiles, signed … Continue reading Brent Crude Oil Reaches 18-Month High