August 9, 2019/OilPrice.com The US Federal Reserve cut interest rates July 31 for the first time since the 2008 financial crisis in an effort to keep the US’s long-running economic expansion on course. It was in many ways an unusual move given the strong labour market, but possible in the […]
OPINION/EDITORIAL
Oil Markets On Edge Despite Price Bounce
August 9, 2019/OilPrice.com While a promise from Saudi Arabia to keep oil exports below 7 million bpd has given oil markets some hope, overall sentiment appears to be very bearish. Friday, August 9th, 2019 The main news today comes from the IEA, which called global oil demand “fragile” amid signs […]
OPEC Production Slumps To 5-Year Low
Culled—Proshare 8/8/2019 By CSL Research According to data released by the S&P Global Platts Survey, OPEC, world biggest oil cartel, pumped its fewest barrels of crude oil in over 5 years (Apr 2014 – 29.70mb/d). OPEC oil output slumped by 210,000 b/d to 29.88mb/d in the month of July from […]
