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Energy / Oil Prices

Oil Prices Fall Again As Wall Street Sees Threat Of Historic Default

May 18, 2023 at 09:45 | Tom Kool

Oil prices shed 1% in Thursday morning trading over American debt and the prospects for a historic default, despite gains on Wednesday driven by demand optimism in the…

Oil Prices Rise As Canada Wildfires Rage On

May 15, 2023 at 12:16 | Julianne Geiger

Crude oil prices were on the rise on Monday as the market continued to fear a tightening of crude supplies on Canadian wildfires. Crude oil prices were…

Is The Oil Price Slide Finally Over?

May 09, 2023 at 12:10 | Tsvetana Paraskova

Despite oil’s most recent slump to a 15-month low last week, analysts and investment banks continue to expect higher prices at the end of this year as demand is set…

Why Oil Prices Are Plunging Despite Falling Inventories

May 03, 2023 at 10:29 | Alex Kimani

Oil prices have lately lost their forward momentum, with both Brent and WTI crude plunging this week. A rather puzzling trend is being…

EIA Inventory Report Fails To Arrest Oil Price Slide

May 03, 2023 at 09:40 | Irina Slav

Crude oil prices continued lower after the Energy Information Administration reported yet another weekly inventory draw on crude oil inventories. The report came a day after the American Petroleum…

Will Demand Concerns Force Middle East Producers To Cut Oil Prices

May 01, 2023 at 10:45 | Gerald Jansen

Less than a month following the announcement of OPEC+ production cuts, oil prices have gone back to where they were before. As difficult as it is to fathom the real-time…

Analysts See Oil Prices Rising To $90 By End-2023

Apr 28, 2023 at 10:13 | Tom Kool

Oil prices are set to rise toward $90 per barrel by the end of this year, driven by Chinese demand and a tightening market following OPEC+’s latest production cuts, a 

Oil Prices Head For Second Consecutive Weekly Loss

Apr 28, 2023 at 07:59 | Tsvetana Paraskova

Oil prices were on course early on Friday to post a second consecutive weekly loss as concerns about the economy trumped larger-than-expected draw in U.S. commercial oil stocks.Brent…

What’s Keeping Oil From Rallying?

Apr 24, 2023 at 12:38 | Alex Kimani

After weeks of rising, oil prices appear to have lost upwards momentum after the 2 April announcement of voluntary output cuts failed to counter worries about…

Oil Prices Down Slightly As Economic Worries Weigh On Demand

Apr 24, 2023 at 07:51 | Tsvetana Paraskova

Oil prices extended last week’s losses and traded lower early on Monday, weighed down by lingering concerns about demand amid economic growth worries.  As of 7:08 a.m. EDT on Monday,…

Four Scenarios That Could Send Oil Prices To $200

Apr 21, 2023 at 11:07 | Irina Slav

It was the talk of the town last year. Traders bet on oil hitting $200 by March this year. Hedge fund managers warned it could even reach $250…

Oil Sheds 2% Amid Indications Of Fragile Demand

Apr 20, 2023 at 12:30 | Tom Kool

Crude oil prices hit a three-week low on Thursday, trading down over 2.5% amid a significant uptick in gasoline inventories and continued fears of recession countering demand growth.…

Why We Still Need Oil & Gas For Decades To Come

Apr 20, 2023 at 09:53 | Irina Slav

Earlier this month, in an op-ed for the Financial Times, the head of the International Energy Agency, Fatih Birol, wrote that renewable energy was expanding faster than many thought.…

U.S. Treasury Dept. Issues Warning About Buying Russian Crude Above Price Cap

Apr 18, 2023 at 10:00 | RFE/RL staff

The U.S. Treasury Department has published a warning to U.S. companies about possible evasion of a price cap on exported Russian oil, pointing specifically to oil exported through…

What Could Go Wrong With Chinese Oil Demand Forecasts?

Apr 12, 2023 at 15:36 | Alex Kimani

Oil markets have rallied since OPEC+ announced that it will reduce its output further, by some 1.66 million barrels per day, bringing the cartel’s total output reduction to…

The Biggest Losers Of $100 Oil

Apr 07, 2023 at 12:21 | Tsvetana Paraskova

The world’s biggest oil exporters will benefit from the surprise OPEC+ production cut, but if oil prices move higher from here and reach $90 or even $100 a…

The One Catalyst That Could Keep Oil From Hitting $100

Apr 06, 2023 at 10:45 | Irina Slav

A week ago, predicting where oil prices would be in six months or at the end of 2023 was relatively easy. Bar a global slowdown, they would be higher. There…

Tighter Oil Market Becomes More Vulnerable To Price Spikes

Apr 05, 2023 at 10:08 | Julianne Geiger

Oil markets are becoming increasingly sensitive to geopolitical events in recent months, with major price rallies manifesting even for a relatively small cut in production, especially when there is geopolitical…

Citi Doesn’t See $100 Oil Despite Shock OPEC+ Cuts

Apr 03, 2023 at 09:59 | Tom Kool

Oil prices are not going anywhere near $100 per barrel despite the latest production cuts announced by members of the OPEC+ group, as U.S. supply growth and uncertainty in Chinese…

Will The Oil Price Recovery Last?

Mar 29, 2023 at 10:43 | Tsvetana Paraskova

  Following a 10% slump in two weeks, oil prices jumped by 5% on Monday as concerns about the banking sector eased and 400,000 bpd of crude exports…

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