Tag: WTI

Fears of U.S. Shale Oil Increase Push Oil Down

Fears of U.S. Shale Oil Increase Push Oil Down

Fears of enhanced production by U.S. shale producers, hoping to cash-in on recent increases in the price of crude have pushed the commodity lower, as concerns rise regarding the potential for significant market-saturation once more. Prices of the commodity had soared in the wake of the signing of the OPEC deal designed to reduce oil-market-saturation, … Continue reading Fears of U.S. Shale Oil Increase Push Oil Down

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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

Worries U.S. Shale Could Hamper the Rise of Oil

Worries U.S. Shale Could Hamper the Rise of Oil

OPEC's signing of the deal in November 2016, designed to reduce global oil production by 2%, via the incorporation of non-OPEC members, primarily Russia, and significant reductions to be made by the cartels de facto leader, Saudi Arabia, have been successful in pushing prices of the commodity┬áto its highest level since July 2015. However, despite … Continue reading Worries U.S. Shale Could Hamper the Rise of Oil

WTI and Brent Rise

WTI and Brent Crude were both up around 0.85% at 13:20 EST, following the trend of many dollar-denominated commodities subsequent to┬áthe release of minutes from the Feds December meeting. Brent crude oil, the global benchmark continued a consecutive day of gains, heading up from yesterday's upward close of $53.70/barrel, standing currently at 0.85% or $57.08/barrel, … Continue reading WTI and Brent Rise