Bullish sentiment is once again building in oil markets as supply disruptions mount and global oil demand growth continues unabated. Friday, July 1st, 2022 As uncertainty builds around the supply capacity of OPEC+ and oil demand rages on despite expectations of demand destruction, bullish sentiment is building in oil markets. Now, to add to that … Read more
Brent prices are expected to average $106.82 a barrel in 2022, the monthly Reuters poll showed on Thursday—and that’s the highest average oil price forecast in the survey so far this year, as the West is scrambling to replace Russian oil supply. In the previous May survey by Reuters, nearly three dozen economists and analysts … Read more
Global oil markets are going to be very volatile in the coming months if news emerging from OPEC’s main producers about production capacity constraints turns out to be true. OPEC will be meeting again in the coming days to discuss its export agreements, while today the oil group is presenting its Annual Statistical Bulletin (ASB) … Read more
While everyone has been watching the price of oil and how high it might go, one other commodity that is now considered critical for our future has been on a much stronger rally. Last year, lithium prices rose by some 400 percent and are still rising. Some analysts expect them to peak this year, but … Read more
Benjamin Tal, deputy chief economist at CIBC Capital Markets, in Toronto on June 7, 2019.Tijana Martin/The Globe and Mail Mounting fears of a recession have gripped equity markets, with the S&P/TSX Composite Index now firmly in correction territory. The S&P/TSX is down 13 per cent from its record closing high of 22,087, reached on March … Read more
While oil markets remain incredibly tight, it is natural gas markets that are making headlines in energy markets this week. Russia is sending less natural gas to European countries and Northeast Asian nations are seeing power demand surge amid intense heatwaves. Chart of the Week – Russian pipeline gas supplies have dropped to their lowest … Read more
Two years ago, at the height of the pandemic, BP wrote in its annual Energy Outlook that global oil demand had peaked at around 100 million bpd in 2019, and it was only going to go down from then on because of the effects of the pandemic and the accelerated energy transition. Just two years … Read more
Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, all for less than a cup of coffee per week. Chart of the Week – As national … Read more
The US national average for gasoline hit $5 per gallon last week, the highest ever. Brent crude is trading at $120 per barrel and is unlikely to subsidize much further as China comes back in full force. And according to the UAE’s Energy Minister, we haven’t even reached the peak—or anywhere near it. “I’ve never … Read more
Two years ago, British oil and gas supermajor BP Plc. (NYSE:BP) sent shockwaves through the energy markets after it declared that the world was already past Peak Oil demand. In the company’s 2020 Energy Outlookchief executive Bernard Looney pledged that BP would increase its renewables spending twentyfold to $5 trillion a year by 2030 and … Read more
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