It’s OPEC vs IEA Yesterday, the Secretary General of OPEC was given air time on CNN. He told the world that a lack of investment in the oil industry could spike prices for crude oil to over $100 a barrel and jeopardise global energy security. Energy security is defined as an uninterrupted availability of energy […]
OPEC
Oil fell on Thursday as weak U.S. economic data raised concerns over a potential global recession and demand reduction, but benchmark prices were headed for a weekly advance after OPEC+ announced further output cuts and U.S. oil stocks dropped. Brent crude futures fell 41 cents, or 0.5%, to $84.58 a barrel by 0616 GMT. West […]
The dollar stumbled on Monday, surrendering earlier gains following unexpected oil output cuts from OPEC+, as data showed the U.S. economy continued to slow with declines in manufacturing and construction spending. Data on Monday added to the narrative that the Federal Reserve is near the end of its rate-hike cycle. An announcement on Sunday of […]