Oil Market Updates

◼ Transocean – has $7.1 billion in net debt, but the company has managed to avoid filing for bankruptcy for a sometime now, and it is not expected…

Crude oil price has continued its upward movement this week as U.S. Energy Information Adminstration (EIA) released its oil market data on Wednesday, March 13. The data published…

OPEC Strategy Failed, But The Cartel is Not Giving Up

Crude oil futures have spiked more than 6 percent this week following the release of U.S. crude oil inventories data by the Energy Information Administration (EIA) on Wednesday…

In its 174th Meeting last week, the Organization of Petroleum Exporting Countries (OPEC) approved with immediate effect Congo’s request to join the Organization. The approval of OPEC to…

The warm relationship between Saudi Arabia and Russia is getting even warmer as Russia was officially invited by Saudi Arabia to become an OPEC observer member according to…

US Oil Rig Count Growth: The number of active rigs drilling for oil in the US increased by 11 rigs last week, bringing the total number of rigs…

Brent crude and WTI started the week on February 5, approximately around $68.23 per barrel and $65.14 per barrel respectively. However, today -Thursday, February 8- both global benchmarks…

Supported by the recent rally in oil and gas prices, most of the major international oil companies and oil and gas services companies reported strong financial performance and…

Oil Market Update: As expected in the Weekly Oil Price Commentary published on Monday, January 29, oil prices were under pressure early this week due to worse-than expected…

Adding to the current support oil prices received from the recent calls by Saudi Arabia’s oil minister Khalid Al-Falih for an extension of global oil output quotas beyond…

Crude oil price today hit another level high this year after OPEC and non-OPEC producers reached a deal to jointly cut oil output in order to ease the…