Oil prices may exceed $140 a barrel this year if Asian economies fully re-open after Covid-related lockdowns, according to hedge fund manager Pierre Andurand.
The value of several North Sea operators could soar this year, according to ambitious predictions made by US investment bank Jefferies.
Oil prices edged higher after tumbling around 9% over the previous two sessions, with demand concerns continuing to hang over the market.
Oil’s miserable start to the year deepened as a deteriorating demand outlook came to the fore, buttressed by predictions for a US recession, China’s near-term struggle with Covid-19, and milder winter weather.
International oil price benchmark Brent Crude climbed in the year’s first session as traders digested mixed signals on demand from China, the world’s largest crude importer.
Oil fluctuated as investors weighed the fallout from a Russian ban on exports to buyers that adhere to a Group of Seven price cap.
Oil rose as China took more steps to unwind its Covid Zero policy and freezing weather across the US prompted refinery closures in the vital Texas Gulf Coast area.
Oil steadied after a three-day gain as concerns that near-term Chinese demand may decline amid a surge in Covid cases offset support from lower US inventories and a weaker dollar.
Oil sank again following the biggest weekly decline since August as China tightened anti-Covid curbs, hurting the outlook for demand.
In a deep-recession scenario, the price of Brent crude oil may sink into the low $60s/bbl by mid-2023, according to RBC Capital Markets, outlining a trio of outlooks while noting that forecasting is challenging at present.
Oil held a two-day surge before an OPEC+ meeting at which the alliance is considering the biggest supply cut since 2020 to revive prices.
Oil headed for its first quarterly loss in more than two years as escalating fears over a global economic slowdown and a stronger dollar overshadowed the prospects for tightening supply.
A “bazooka” of oil from the US reserve, lockdowns in China and a “surprising durability” of production in Russia are preventing Brent Crude oil from hitting $200 a barrel.
With gas prices now more than five times the cost of a barrel of North Sea benchmark Brent Blend, the outlook for energy across Europe including the UK, is shocking.
Oil rose on Friday -- paring a hefty weekly decline -- before an OPEC+ meeting on supply at which Saudi Arabia could push for output cuts, and as efforts to revive an Iranian nuclear accord suffered a setback.
Oil shook off an early slump at the week’s open to push higher as investors weighed up prospects for demand ahead of a barrage of intelligence from leading energy players on the market outlook.
Oil headed for a punishing weekly loss on increasing evidence that a global economic slowdown is spurring demand destruction, with prices collapsing to the lowest level in six months as key time spreads contract.
Supermajor Shell (LON: SHEL) has been backed to replicate the eye-watering profits it reported earlier this year.
Ask any UK driver about the soaring price of petrol and they’ll probably tell you something like this: prices always rise with oil, but they never seem to track it lower.
Oil declined as the prospect of more demand-sapping virus restrictions in China overshadowed signs of a tightening market.
Oil traded near $107 a barrel in New York as investors monitored developments from the gathering of Group of Seven leaders, and two supplier countries flagged potential output cuts due to political unrest.
A rise in interest rates has sparked fears that rising costs for home owners and buyers will dampen the market – although Aberdeen might resist this trend as the energy market heats up.
Oil pared gains before an OPEC+ meeting on supply strategy, after earlier stretching an advance that followed the European Union’s announcement Wednesday of a phased ban on Russian imports.
“Exceptional” oil and gas trading meant BP (LON:BP) raked in healthy profits in the first three months of 2022.
Anderson Anderson & Brown Corporate Finance (AABcf) is delighted to share with you our Deals+ update for Q1 2022 in conjunction with Energy Voice, highlighting selected energy M&A and Fundraising transactions across the UK.