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OIL MARKET OVERSUPPLY
Middle East oil price war heralds post-conflict glut: BoussoThe Strait of Hormuz has become a bustling corridor for Middle Eastern oil, with exports rising sharply since September. However, the ongoi...- Oil climbs after Trump denies he is willing to ease sanctions on IranOil prices surged following US President Donald Trump's clear stance of not easing sanctions on Iran. Meanwhile, Qatar voiced optimism for ...
- Nearly 7 billion litres without a market: Ethanol glut in India fuels search for new buyersIndia’s ethanol industry is deluged with severe oversupply, with nearly 7 billion litres of capacity without a clear market. Installed capa...
- US Treasury Secretary Scott Bessent sees crude oil as low as $40 post-Iran war, lower bond yieldsTreasury Secretary Scott Bessent anticipates oil prices will fall significantly after the Iran conflict concludes. He expects crude oil to ...
- Fitch sees global oil markets returning to oversupply after Hormuz reopensGlobal oil markets are set to return to oversupply soon. Fitch Ratings reports the Strait of Hormuz closure is a temporary supply shock. Pr...
- Oil market likely to return to oversupply after Hormuz reopens: Fitch RatingsGlobal oil markets are set to see a surplus once the Strait of Hormuz reopens. Fitch Ratings predicts this despite current price hikes. The...
- Oil prices firm after Ukrainian strikes on Russian oil infrastructure, stalled peace talksOil prices edged higher as Ukrainian attacks on Russia's Druzhba pipeline and stalled peace talks hinted at potential supply disruptions. D...
- Oil extends declines after Iraq, Kurdish governments agree to restart oil pipelineOil prices continued their decline for a fifth session due to oversupply concerns, exacerbated by a preliminary agreement to restart an Ira...
- Oil prices fall nearly 2% on oversupply and weaker US demandOil prices fell on Thursday, pressured by concerns over softening U.S. demand and broad oversupply that offset threats to output from confl...
- Barclays cuts 2020 crude forecasts by $12 on virus, Opec+ deal collapseThe bank lowered its 2020 price outlook for Brent and West Texas Intermediate by $12 each to $31 and $28 per barrel, respectively.
- Citi says oil's record plunge is a `Made in America' phenomenonWTI, was at $56 a barrel, following a record 12 session slide through Nov. 13.
- Oil prices fall as oversupply looms amid global market woesBrent crude futures were down 45 cents, or 0.6 percent, at $76.44 a barrel by 0140 GMT.
- Oil declines as US, Libya pump into oversupplied global marketUS drillers increased the rig count by six to 747 last week, the highest level since April 2015.
- Goldman Sachs says oil's biggest problem could be over- and now crude is on a chargeIn European trading, both major benchmarks - Brent crude and West Texas Intermediate - are up by around 1.4%, with Brent at $48.49 and WTI ...
- Oil likely to recover to $55 in 12 months: ReportOil prices are likely to recover after 11-year low to $55 per barrel from $34 in 12 months, following gains in latter half of 2016, a repor...
- Moody's places ONGC, OVL rating on review for downgradeThe action reflected the rating agency's effort to recalibrate the ratings in the oil and gas portfolios to align with the fundamental shif...
- Oversupply in oil market to continueOPEC, a group of 12 oil producer countries, is meeting on Friday to stabilise (read increase) oil prices. But the outcome of the meeting ap...
- Global oil demand growth to slow in 2016: IEAGlobal demand growth is expected to slow from its five-year high of 1.8 million barrels per day in 2015, to 1.2 mb/d in 2016.
- Oil dips after big rally as oversupply weighs on marketWednesday's 4.5 per cent surge in Brent crude futures , the biggest percentage gain since June 2012, came as traders covered themselves on ...
- Markets may take years to absorb oil glut, says UAE energy minister Suhail Al MazroueiOpec would find it “difficult, if not impossible” to give up part of its share in global oil markets by cutting output, he said on December...
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