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Saudi Arabia’s Next Move Could Hit Oil Prices Hard

Oil & Gas‚ Oil and Gas Industry | intent | April 14, 2025 | Comment off

Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May–equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs on trading partners, deepening the shock to oil markets. Brent crude for June delivery was up 0.1% to trade at $63.32 per barrel at 9.45 am ET on Friday while WTI crude was flat at $60.12 per barrel.

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Goldman Sachs Cuts Oil Price Outlook Once Again

Uncategorized | intent | April 14, 2025 | Comment off

“The risks to our reduced oil price forecast are to the downside, especially for 2026, given growing risks of recession and to a lesser extent of higher OPEC+ supply,” Godman said in one of its earlier April notes, referring to the most expected outcome of the tariff war that President Trump started in early April. However, there is a good chance the war will end before it start hitting the global economy, eliminating the biggest risks as defined by Goldman Sachs and thus reducing the danger of a more serious oil price decline.

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Oil Prices Surge as Trump Pauses Tariffs

Oil & Gas‚ Oil and Gas Industry | intent | April 10, 2025 | Comment off

World markets soared on Thursday, with Japan’s benchmark jumping more than 9%, as investors welcomed US President Donald Trump’s decision to put his sharp tariff hikes on hold for 90 days, though he excluded China from the reprieve.In early trading, Germany’s DAX initially gained 5.6% to 20,776.76, while France’s CAC 40 in Paris gained 5.4% […]

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Oil price shock may be short lived, Canada energy chiefs say

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | April 10, 2025 | Comment off

The plunge in oil prices over the past week was more severe than the market’s dynamics justify, and the drop may be short-lived, according to Canadian energy executives gathered in Toronto.
Leaders of oil and gas producers as well as pipeline companies characterized the sudden decline — sparked by US President Donald Trump’s global tariffs and OPEC’s surprise decision to revive output more quickly than expected — as more of a shock reaction than a reflection of actual supply-and-demand imbalances.

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Oil Price Crash Is Already Hitting Alberta’s Production

Oil & Gas‚ Oil and Gas Industry | intent | April 8, 2025 | Comment off

The oil industry in Alberta is bracing for difficult times ahead, with WTI prices crashing to $60 per barrel and uncertainties about oil demand growing in a world of trade and tariff wars.

Last week, the tariffs announced by the Trump Administration and the decision by OPEC+ producers to add in May more barrels to the market than expected crushed oil prices, with WTI Crude, the U.S. benchmark, crashing to $60 per barrel—the lowest level in four years.

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Oil Price Rout Extends on Recession Fears

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | April 7, 2025 | Comment off

The price slump in crude oil that began last week has extended into this one as market players’ fears about a global recession deepen.

At the time of writing, Brent crude was trading at just below $64 per barrel, while West Texas Intermediate was changing hands for $60.54 per barrel, both down by over 2% from Friday’s close.

Last week, crude oil prices took a 7% dive after China announced retaliatory tariffs for U.S. imports, matching the U.S. rate of 34% on top of existing levies. The move was universally seen as bearish for crude oil, hence the effect on prices.

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