Barron’s (September 4)
“Oil prices fell below $70 a barrel on Wednesday despite reports that OPEC+ nations are considering delaying a planned oil output hike in October.” One of the main drivers was ”weakening demand from China.” Other factors included the situation in Libya and “fears about a weakening U.S. economy.”
Tags: 70, Barrel, China, Delay, Fears, Libya, October, Oil prices, OPEC, Output hike, U.S., Weakening, Weakening demand
Reuters (May 13)
“With scars from a post-Ukraine energy security crisis fresh, oil prices around $80 a barrel, and central banks’ rate hikes reducing the value of long-term businesses like offshore wind, investors have already voted with their feet. Shell’s share price has risen by a third since 2023, while the benchmark FTSE 100 Index only gained 16% during the same period. Morningstar recorded net outflows globally from sustainable investing in the fourth quarter.”
Tags: 80, Barrel, Benchmark, Central banks, Crisis, Energy security, FTSE 100, Investors, Morningstar, Offshore wind, Oil prices, Outflows, Rate hikes, Share price, Shell, Ukraine, Value, Voted
Washington Post (March 21)
“The aim of setting the cap on Russian crude at $60, roughly 20 percent below the main international benchmark price, was to whittle away at Russia’s cash hoard while still providing it with sufficient incentive to maintain exports and keep global oil markets stable. It is now time to lower the Western cap further, in increments, to $40 per barrel or less.”
Tags: $40, $60, Aim, Barrel, Benchmark, Cap, Crude, Exports, Incentive, Oil markets, Russia, Stable, Sufficient, Western
Oilprice.com (December 26)
“Although the EU embargo and the EU-G7 price cap on Russian crude oil at $60 per barrel didn’t immediately roil the oil market – although traders were concerned about a possible demand hit from slowing economies – uncertainty is growing over how the bans on Russian imports will affect supply balances over the next few months.”
Tags: $60, Bans, Barrel, Crude oil, Demand, Economies, Embargo, EU, EU-G7, Imports, Oil market, Price cap, Roil, Russia, Supply, Traders, Uncertainty
Reuters (June 12)
“Oil’s 2020 roller coaster is on a new downward section of track. After respectively falling below $20 a barrel and turning negative in April, Brent and U.S. crude prices recovered to $40 a barrel amid coordinated supply cuts. Fresh falls in recent days make that level look more like a ceiling.”
Tags: Barrel, Brent, Ceiling, Crude, Downward, Oil, Recovered, Roller coaster, Supply cuts, U.S.
Wall Street Journal (January 30)
“Trouble has been looming over the oil patch since crude prices began falling last summer, from over $100 a barrel to under $50 today. But only now are the long-feared effects of a bust starting to ripple through the complex energy ecosystem, affecting Houston executives, California landowners and oil old-timers in Oklahoma.”
Tags: Barrel, Bust, California, Crude prices, Energy ecosystem, Falling, Houston, Oil, Oklahoma, Trouble
