Oil

New Energy Finance (BNEF) on behalf of the C40 Cities Climate Leadership Group – highlights an electric, or an ‘e-buses’, competitiveness against conventional diesel and CNG fuelled modes. It states, […]

Sometimes there are swift changes in the economy, and we are currently witnessing an era of ever more rapid transition. Even so oil remains the main energy source for the […]

Talk that Saudi Arabia has its sights on US$80-US$100 a barrel oil again and of more U.S. sanctions on Russia ignited a rally in commodities and resource stocks on Thursday, […]

There are increasing signs that a break above $US80 for a barrel of oil is now on the cards, after benchmark Brent crude prices closed on Friday night at $US72.58 […]

Although OPEC and allies have never officially targeted any specific price of oil with the production cut agreement, each member of the pact knows very well where they want oil […]

U.S. West Texas Intermediate and international Brent crude oil finished lower last, weakened by concerns over rising U.S. production, but ultimately driven lower by worries over the impact of the […]

The geopolitical tension between Saudi Arabia and Iran is reflected in the oil market and has repercussions on China, which imports about 16% of its oil from Saudi Arabia. It remains to be seen how Saudi oil sales to China will be handled. Oil futures in yuan will be in direct competition with oil futures in US dollars when it is a question of oil destined for China.

The stock markets are still setting record highs, and the price of crude oil has gone over US$ 60 per barrel. Opinions are divided on whether the surge in oil prices will be sustained or fall back. There are various factors influencing the price like the OPEC agreement to cut back production and the question whether American shale oil production will increase. There are, of course, geopolitical considerations that could lead to developments not entirely positive.