Resurgent virus dominates frail demand support for crude - Oct. 16, 2020
Sep Bulls & Bears: Mildly bearish near-term, Neutral for Q4 - Sept. 11, 2020
This issue of Bulls & Bears sees us moving one notch towards bearishness both in the near term and for next quarter compared with the August issue.
We have a Mildly Bearish view on crude prices for the next few days and a Neutral view for the coming quarter.
The current crude prices – Brent around $40 and WTI around $37 – should be viewed as a baseline for the outlook.
energy radar first report - Jan. 13, 2020
Shortly before the markets opened, US President Donald Trump tweeted that he had authorised the release of stocks from the country’s Strategic Petroleum Reserve if necessary, to keep the y 9.30 am Singapore time (0130 GMT), three and a half hours after trade opened for the week on the CME and ICE futures exchanges, crude had calmed down somewhat, to gains of 10-12% versus Friday’s clsoe. markets
Trump's Covid diagnosis throws oil market a curveball - Oct. 2, 2020
What are the things to look out for in terms of the ongoing psychological impact on the oil market and the fundamentals. With crude spiralling back towards three-month lows, all eyes may once again be on OPEC+.
The fuss over member countries not delivering on compensatory cuts has implications for the group's cohesion, but is impacting oil prices only at the margins.
OPEC+ may now face the difficult choice of revisiting its decision to put an extra 2 million b/d into the market over August-December. The question is, will the producers' alliance walk Prince Abdulaziz's talk a fortnight ago, warning short-sellers that they will hurt "like hell"?
Crude slumps early Tue, discounting chances of US stimulus deal - Oct. 20, 2020
Crude futures were sliding early Tuesday in Asia as market participants assessed a slim chance of House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin managing to forge a compromise on the second US stimulus package in the narrow window of time left.
Meanwhile, a closely-watched OPEC/non-OPEC committee meeting on Monday added to a downbeat view of the oil complex as the alliance’s de facto leaders, Saudi Arabia and Russia, acknowledged a downside risk to global demand recovery but left the market guessing on the group’s planned 1.9 million b/d supply boost from January 2021.
A steady ramp-up in Libyan production is also weighing on oil market sentiment. Production at the country’s largest oil field, Sharara, has reportedly reached 150,000 b/d, equivalent to half its capacity.