Oil in Global Economy Series: Rising production in US continue to eclipse OPEC deal
Mar 01, 2017 10:19 am UTC| Commentary
The OPEC deal and the non-OPEC deal that was agreed last year and are being implemented since January this year to reduce production by as much as 1.76 million barrels per day continue to be undermined by the rise in the...
OPEC deal compliance at 91 percent
Feb 10, 2017 09:56 am UTC| Commentary
In November last year, member countries said that the deal to reduce 1.2 million barrels of supply from OPEC would come into effect in January this year and the data suggests almost full compliance with the deal. In the...
Oil in Global Economy Series: Great convergence in US
Feb 08, 2017 10:36 am UTC| Commentary
This chart shows what we at FxWirePro are calling the great convergence and we expect to be one of the most crucial factors going ahead. Three data are plotted here, The net imports of crude oil and petroleum...
Oil in Global Economy Series: Billions of barrels of oil in stock pose threat to price recovery
Feb 08, 2017 09:58 am UTC| Commentary
Except for the initial rise in prices, the OPEC and N-OPEC dont seem to have much of an impact in the market so far and of the reasons for that has been the billions of barrels of oil sitting idle as stock, ready to be...
Russia joins OPEC producers in output cuts, oil markets buoyed
Feb 01, 2017 14:51 pm UTC| Commentary
Oil stuck in a tight range on Wednesday. A Reuters survey showed on Tuesday that OPECs output fell by over 1 million bpd in January to 32.27 million bpd between December and January. Oil markets found support from the...
Oil in Global Economy Series: Biggest threat to oil price recovery in short to medium term
Feb 01, 2017 08:30 am UTC| Commentary
If you ask, what is the biggest threat to oil price recovery, especially in the short to medium term? The answer will be just two words; Donald Trump. The actions taken up by the US President Donald Trump since his...
As Trump mulls another 'reset' with Russia, he should consider perils of Big Oil diplomacy
Jan 28, 2017 07:39 am UTC| Insights & Views
Energy has long been used as a tool of U.S. foreign policy, particularly in the Middle East. But its true in other regions and countries as well, most notably Russia, where President Donald Trump is pondering another...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects