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Oil in Global Economy Series

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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

FxWirePro: WTI outlook - $32/barrel would be tough nut to crack

Jan 22, 2016 12:55 pm UTC| Commentary

WTI in past three days, rose more than 13%, more so after European Central Bank (ECB) signaled that it might ease policy further in March meeting. However we at FxWirePro, are taking a bi contrarian view to the current...

Oil in Global Economy Series

Oil prices surprise by sudden rebound

Jan 22, 2016 12:33 pm UTC| Commentary

Despite massive oversupply of US inventory, the oil prices have soared more than $3 to $31 per barrel since yesterday afternoon. US crude oil stocks advanced nearly 4 million barrels in the previous week and are at 130...

Oil in Global Economy Series

S&P may cut oil countries' ratings to reflect 'new reality'

Jan 22, 2016 10:28 am UTC| Research & Analysis

Credit rating agency Standard Poors signalled on Friday that oil-exporting countries face fresh downgrades as crude prices fall further and that it could repeat last years move when it made a big group of cuts all at...

Oil in Global Economy Series

Saudi Aramco calls $30/barrel oil irrational

Jan 22, 2016 10:18 am UTC| Commentary

Saudi Arabia since the oil price rout has been pursuing overproduction strategy and to push prices to such extend that high cost producers are forced to get out of the market. However, situation might be getting tense even...

Oil in Global Economy Series

OPEC countries optimistic on oil market balance

Jan 21, 2016 16:20 pm UTC| Commentary

Oil prices (both Brent and WTI) have been trading below $30 a barrel. The price of oil has dipped to levels that it favors more for buyers than for sellers. The rationale being that oil producers will definitely put a cap...

Oil in Global Economy Series

Oil markets likely to remain heavily oversupplied in 1H2016

Jan 21, 2016 10:38 am UTC| Commentary

The current oil market conditions continue to deteriorate, further putting downward pressure on spot and forward prices. Oil prices declined over 5 percent today, falling below $30/bbl as U.S. economic data failed to...

Oil in Global Economy Series

Oil recovery falters, triggers renewed bout of risk-aversion

Jan 21, 2016 06:56 am UTC| Commentary

Oil prices were stable early on Thursday after hitting fresh 2003 lows in its previous session. The front-month West Texas Intermediate crude futures was trading at $28.66 per barrel at 0155 GMT, up 31 cents from its...

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