Crude Oil Market Analysis

Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.

China's economy is rocketing. On the other hand OPEC+ countries take the decision to cut the production. What will be the impact on the oil price?

The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.

US oil exports reached a record last week at five million barrels a day, according to Energy Information Administration data…

The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.

The oil prices rally and world central banks’ dovish monetary policy caused by the Covid-19 pandemic were the main reasons for current inflation growth…

After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.

On Thursday, June 2, the Organization of the Petroleum Exporting Countries Plus (OPEC+) agreed to boost output by 648 000 barrels per day (bpd) in July and August…

Yes, oil prices are burning right now, and inflation is getting hotter along with it worldwide. However, the oil's bullish momentum is under threat.

What is happening? The Russian president's announcement that countries "unfriendly" to Moscow must pay for gas deliveries with rubles shows that he's willing to use energy as a weapon in the Ukraine war…

Oil markets were under great pressure amid increased demand and falling supply. OPEC+ is unable or unwilling to achieve its self-imposed production targets and insists on limiting production increases by 400,000 barrels per day despite rising prices.

There is no calmness in the oil market; history taught us. Since the pandemic began in 2020, we have seen ups and downs in oil prices, from the negative $37.63 per barrel for May 2020 WTI crude to breaking out of the $100 level this February.