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Saudi Arabia to boost oil production to record high

OPEC leader Saudi Arabia is set to increase oil production to a record 10.8 million barrels per day (bpd) in July, Bloomberg reports.

read more... 27/06/2018

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Daily (26.06.2018): German spot power price rose by more than 100% on Monday, due to high demand and low wind generation

After OPEC’s resolution to raise output by one million barrels per day, oil prices dropped on Monday. Brent crude edged 1.1% lower at $74.73 a barrel. Simultaneously, WTI crude was less bearish, settling 0.7% down at $68.08 a barrel, due to a temporary decline in U.S. drilling activity and a Canadian supply outage.

read more... 26/06/2018

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Daily (25.06.2018): OPEC’s decision to moderately increase oil production led to a hike in crude prices on Friday

Oil prices jumped on Friday after OPEC settled on a moderate increase in production, below figures discussed ahead of the reunion held in Vienna. Brent crude soared by 3.4% to $75.55 a barrel. Moreover, lower output in Venezuela and Trump’s sanctions on Iran also boosted prices, with WTI crude closing 4.6$ higher at $68.58 a barrel.

read more... 25/06/2018

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Daily (22.06.2018): Brent crude slumped by 2.3% on Thursday on expectations for higher supply

Brent crude dropped by 2.3% to $73.05 a barrel on Thursday, right before the OPEC meeting which is aimed at raising oil output. The news about a higher-than-expected stockpile draw in the U.S. put pressure on WTI crude price, which settled 0.3% lower at $65.54 a barrel.

read more... 22/06/2018

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Daily (20.06.2018): NBP day-ahead gas price plummeted by 3.3% on Tuesday due to an oversupplied system

OPEC and Russia are likely to decide this week whether to increase their oil output, having a bearish effect on crude prices on Tuesday. Brent crude slipped by 0.4% to $75.08 a barrel, while WTI crude plummeted by around 1.2% to settle at $65.07 a barrel.

read more... 20/06/2018

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