Oil and gasoline prices have distinct seasonal patterns, up after the first of the year up until some time in the summer. The big questions for this year are: How high will crude oil prices go? Will gasoline prices hit startling levels? After peaking and sliding into the end of the...
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prices were thought to be attributed to a general thought that Iran’s exports would soon wane in the face of additional sanctions that are set to go into effect in November, courtesy of the United States, and by predictions that today’s API report would show a draw in crude oi...
This paper examines the factors responsible for changes in crude oil prices. The paper reviews the statistical behavior of oil prices, relates this to the predictions of theory, and looks in detail at key features of petroleum demand and supply. Topics discussed include the role of commodity spec...
U.S. oil is up about 1.2% for the week and 5.98% for June. Here are today’s energy prices: West Texas IntermediateAugust contract: $81.60 per barrel, down 12 cents, or 0.15%. Year to date, U.S. oil has gained 13.89%.
Two powerful fundamental factors which are supporting higher Crude Oil prices are that China has abandoned many of its covid-19 lockdown and quarantine policies. This should boost energy usage in China. Also, the EU has banned imports of all Russian crude oil and petroleum products, which make...
SINGAPORE (ICIS)–China’s crude oil imports in September totaled 45.5 million tonnes, down by 0.6% year on year and lower by 7.4% from the previous month, official data showed on Monday. For the first nine months of 2024, its t...
Anybody remembers predictions of KSA reserves running out 30 years ago? Look at US shale oil as another example. If George Mithcell had bought into this negativism, we would be producing less than half of US oil production today. You need to balance geology and reservoir engineering...
In my opinion Oil production was sustained and growth (in North America) because of the very high Oil prices and the belief in the industry that Oil prices would continue to rise much higher. Its looking like 2015 will be the global peak in production and its seems unlikely the global econ...
Today, the world’s economy is largely dependent on fossil fuels such as crude oil, and the demand for these resources often sparks political unrest, as a small number of countries control the largest reservoirs. Like any industry,supply and demandheavily affect the prices and profitability of c...