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Daily (23.04.2020) WTI futures soared by over 19% on Wednesday, due to potential deeper supply cuts by OPEC
Crude futures recovered from a more-than 20-year low on Wednesday, on potential new oil talks between OPEC producers to deepen supply cuts to support the market. Consequently, Brent crude jumped by 5.4% to $20.37 a barrel. Similarly, WTI futures traded 19.1% higher at $13.78 a barrel.
read more... 23/04/2020
OPEC Deal Could Prompt Oil Price Rise to $45 Per Barrel By Year’s End – Gazprom Neft CEO
The OPEC+ deal will not prompt an immediate sharp rise in oil prices, but should the international community manage to curb the COVID-19 outbreak, it is possible that prices could rise to between $40 and $45 a barrel, Russia’s Gazprom Neft CEO Alexander Dyukov said.
read more... 14/04/2020
Daily (14.04.2020): Crude oil futures ended on a mixed note on Monday as demand worries offset OPEC deal
Crude oil futures ended on a mixed note on Monday, as investors digested whether the unprecedented deal by the world’s biggest producers to cut output could stabilize the market hit by the coronavirus.
read more... 14/04/2020
Russia expects oil cuts of 5 mln bpd on top of OPEC
Russian Energy Minister Alexander Novak said on Friday he expected oil production cuts by countries outside of the OPEC+ group to amount to 5 million barrels per day (bpd).
read more... 13/04/2020
Daily (10.04.2020): Oil prices turned bearish on Thursday due to traders’ skepticism towards the OPEC historic deal
Oil futures fell sharply on Thursday as the traders doubted that the OPEC+ agreement to cut oil output by 10 million barrels per day would be enough to offset the massive destruction of the demand hit by the coronavirus pandemic.
read more... 10/04/2020