Oil prices may have recovered over the past 15 months but that’s unlikely to last, says JP Morgan’s global commodity research team. In a note released following the decision from OPEC and non-OPEC members to extend production cuts last week, the bank argues that prices are likely to weaken once […]
Oil is back above $50 and has now hit its 100-day moving average. The 100-day average is technically considered a level of support, although crude has struggled to stay above that mark this year as this chart shows. The last time oil reached the level was April 19 and before […]
Don’t look for a sharp recovery in the crude oil price any time soon, it’s likely to oscillate between $35 to $55 per barrel for the remainder of the decade. That’s that the view of Vivek Dhar, mining and energy commodities analyst at the CBA, who suggests that unless OPEC […]
After a horrendous 2015, it’s been a a wild ride for the crude oil price so far in 2016. In the first 12 trading sessions of the year, front month US WTI futures tanked, falling by nearly $11 per barrel, or close to 30%. However, as quickly as the move […]
Output questions remain.