Rising Oil Price: world's third largest consumer feels the pinch

The rising oil price has already affected the world’s third largest consumer of crude oil, India, both economically and politically. During the last six months, fuel price has gone up by a staggering 23%, taking its toll on the freight operators with a significant rise in the cost of rentals. Since m…

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Oil Price: does this the graph play a major role in its rise?

Oil price is rising and even an inventory hike did not affect its elevation to the current level this week. It went down at the early hours on Friday, most probably after the news about an air strike by the US inside Syria, targeting a group of fighters supported by Iran. Although the attack did not …

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Oil Price: dynamics of the crude market with Iran back to the fold

Although the hardliners of the Iranian administration are determined not to revive the nuclear deal signed in 2015, the moderates, led by President Rouhani, appear to be getting their way. On the part of the US administration, the indications are that they will do everything to revive the deal even …

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Oil Price: next OPEC+ meeting on March 4 - will Russia and Saudi Arabia see eye to eye on production cuts?

In spite of the rise in oil price, defying the forecasts that said otherwise, Saudis have been urging the members of the OPEC to be cautious. We do not know for sure whether the Saudis knew the dip in price this week in advance – by instinct or from a model that the rest of the analysts are not awa…

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Crude Oil Production Cuts: murmurs of discontent

At present, OPEC+, the Organization of Petroleum Exporting Countries plus Russia, resembles an unstable nucleus of a radioactive atom; judging by what we hear on political front, there seems to be uneasy compliance with self-imposed quota-limits with murmurs of cacophonies. Although crude price dip…

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Critical Problem with Renewables: they are not at your beck and call

People in Texas are suffering at present on an unprecedented scale and when the city mayor shot himself in the foot, while the response should have been a shot in the arm – not in vaccine sense – it hardly helps to boost the morale of ordinary people, let alone the vulnerable. Clearly, the demand of…

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Oil Price: what will happen when planes are back in the skies?

Having risen steadily – and somewhat alarmingly – for more than a week, Brent crude price has slightly gone down for most of the day on Tuesday. Major oil producers in the OPEC, meanwhile, still think the price of the crude oil is in the right range as far as their economic issues are concerned, tha…

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Early morning crude oil price hike: it was due to a drone attack!

At 04:27 GMT on Monday, Brent crude price went up by $1.09, a rise in 1.8%. WTI crude, meanwhile, gained $1.28. Analysts may think the stimulus package announced by the Biden administration and the hopes of success of the vaccination programmes across the world are behind the spike in crude price i…

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Relying on the renewables for power: challenge of still, dark days

On Boxing Day in 2020, we were mostly indoors due to the lockdown over the Christmas period in the United Kingdom; nature hardly helped alleviate the gloom during the difficult time either in the hour of national need; on the contrary, its fury developed into a monstrous storm, knows as Storm Bella…

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Oil Price:all ears on the next OPEC+ meeting in March

The next monthly meeting of the OPEC+ on March 4, is going to be crucial for the oil price in particular and the economies of the world regardless of their strength in general. At present, the factors which are always in favour of steady oil price are active: the inventory draws are significant; Chi…

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Why do the UAE and Saudi Arabia embrace renewables? Reason is not whay you think!

Both the UAE and Saudi Arabia, two countries without an issue of crude oil supply, are in an accelerated mode to embrace renewable energy, something we never heard of, up until recently. According to an article by Rystad Energy on oilprice.com, the UAE hopes to increase the contribution by the renew…

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Tentacles of Positve Sentiments Run across the Oil Markets

Oil surge continues as investors feel that the demand is back on track and it’s finally irreversible regardless of the bad news on the Coronavirus front with the discovery of new variants. Investors seem to be particularly buoyed by the projected increase in demand by two leading developing countrie…

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Crude Oil Price: bull runs riot before caged bear

I have been looking at many charts that depict the current oil prices and even created one for my own website/blog using the weekly oil price data since 1987, from the EIA, the US Energy Information Administration. Despite all that, sensing the trend, upward or downward, on weekly basis is as ridic…

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Decarbonizing the smoke trail: new mission of the United Airlines

Airlines, one of the hardest hit sectors by the pandemic, anticipate man-conceived headwinds when they finally get back to normal business in the post-pandemic world. The airline sector feels that they will have to come up with long-term strategies to reduce greenhouse gases at their sources – the e…

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Latest OPEC+ Meeting: optimism of the block pushes oil price up

The Joint Ministerial Monitoring Committee, JMMC, meeting of the OPEC+ that took place in the form of a virtual conference on Wednesday, finally managed to provide the markets with much needed sense of direction. The oil price shot up, having been in decline for days. Brent oil hit above $58, the hi…

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Oil price bounces back: markets watch next OPEC+ meeting this week

Oil price that dipped last week, having been on a rising-mode for past few weeks, bounced back through the fog of uncertainty on Monday. Traders are optimistic that the markets will not be flooded with crude oil as they first feared after the new US administration came into power; they were particul…

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Despite the victory over Shell, Nigeria has even a bigger shell to crack to shore up its economy

A Dutch court ordered a Nigerian subsidiary of the oil giant, Shell, last week to compensate for the damage caused by oil spills to local farmers on its watch in the oil-rich Niger Delta region, in 2013. The unprecedented ruling will have server repercussion for the international oil companies, whic…

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