Oil price falls again as economic worries dominate the sentiment

The price of crude oil fell on Monday when the markets opened for business and it has since been back on the static trend despite the substantial production cuts by the OPEC+. Although analysts hoped that the significant crude draw announced by the API, American Petroleum Institute, on Tuesday would…

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Oil and gas prices fall again as the concerns over global economy grow

The prices of crude oil slipped into yet another statistically chaotic week as the latter draws to a close, having been through some wild fluctuations that defied reason. As of 10:30 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $77.36, $81.06 and $2.23 respectively. Neither t…

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Crude oil prices struggle to break free from static shell!

The move of production cuts made by the OPEC+, branding it as a ' precautionary measure ' has not been successful in pushing the crude oil price up, apart from creating an understandable, initial stir in the markets at the  beginning of the last week. The failure appears to be consistent with …

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OPEC+ production cuts failed to excite the oil markets

The price of crude oil, despite going up by almost 6% on Monday morning, thanks to the abrupt production cuts announced by the OPEC+, lost it momentum again as the days wore on.  As of 11:00 GMT, the prices of WTI and Brent were at $79.48 and $84.56 respectively. The OPEC+ announced on Sunday that th…

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Why did the members of the OPEC+ change their hearts suddenly?

The sudden announcement by the OPEC+ - OPEC plus Russia - took us, the mere mortals, by surprise and it was a bolt from the blue, indeed.  The prominent members of the group announced that they would opt in for voluntary cuts in crude oil production from May; the numbers are not insignificant and th…

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