Some weeks back, I’ve written about the potential impact of the arrival of the petroyuan, not just in the oil market but also in the currency market, and that such impact was going to arrive in the end of 2017. Nevertheless, as of now, things at the International Shanghai Energy Exchange (or INE for short) have [...]
On January 20, 2017, the 45th president of the United States of America, the Republican Donald John Trump, moved in to the White House. After seventeen months of campaigning, the New York tycoon managed to ascend to the American presidency with 304 electoral votes and 46.09% of the votes of the citizens. In his first 365 [...]
OPEC's efforts to balance crude oil stocks are not enough, as we approach Brent levels of 50$/b. Production cuts are countered by an ever-rising production of American output (shale oil) with 15 straight weeks of increasing rig count according to Baker Hughes. Though many OPEC members have already achieved compliance on the production-cut agreement, others see their [...]
Between 26th and 28th September the XV International Energy Forum in Algeria took place. On the sidelines of this event, the 14 OPEC members, along with Russia, held an informal meeting to discuss the possibilities of reducing the current oversupply on the market (more than 1 million barrels). This is the umpteenth attempt to encourage current [...]
This year crude oil markets are going through a turbulent process. Nobody seems to be willing to reduce their market share, no matter how low prices get nor how many supports are broken in the charts. In addition, a slow-growing and relatively flat global demand (around 96m barrels per day) is being outgrown by an oversupplied [...]
The nuclear dispute between Iran and the six world powers, known as the Group 5 + 1 (U.S., Russia, China, United Kingdom, France and Germany), has concluded last July 14th in an historical and international agreement in Vienna. This event will modify many political and economic equations around the world. The agreement includes a lifting of the [...]
