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Monday, 27 February 10:46 (GMT -05:00)



Stock and commodities markets

Brent Oil Prices Will Average $53,50/b In 2017, IEA Says


This year, the average cost of Brent oil is expected to be at $53,5 per barrel. This is what the latest EIA report says. This means that the forecast has improved relative to the previous one. For the sake of comparison, the average price of Brent oil in 2016 was at $43,74 per barrel. In 2018, the average price is expected to exceed $56 per barrel.

 

 

 

 

 

As for WTI oil, the EIA reports expects the average WTI price to be around $52,5/b in 2017. This is higher than $50,66/b expected in December 2016. For the sake of comparison, the average price of Brent oil in 2016 was at $43,33 per barrel.

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Also, the agency improved the forecast for the average oil production in the USA by as much as 200K barrels a day up to 9 million barrels a day in 2017. Moreover, the EIA expects the U.S. oil production ton increase all the way up to 9,3 million barrels in 2018.
 
More optimistic forecasts have to do with higher oil production in the Mexican Gulf. It’s all about higher production capacity partially resulting from more efficient drilling.
 

 

At the same time, Goldman Sachs experts anticipate $59/b for Brent oil in mid 2017 thanks to the Vienna Accord implying production cuts by OPEC and non-OPEC oil producers. Still, the experts don’t believe the prices will stay there for more than 6 months. The Vienna Accord signed in late 2016 is expected to result in a supply deficit in Q1 2017, thereby pushing the prices higher.

 

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Trading Signals by Dukascopy 15.02.2017

These are the Main Daily Trading Signals for Wednesday. Here's how the interbank compares with the technicals at 8 AM GMT.
Euro/Dollar sees 5 neutral models in the short-term, whereas the mid and long-term scales are overwhelmingly bearish. Neutral at 4% short, the interbank matches the 1-hour models.

Publication date: 15 February 06:35 AM

OPEC Revised 2017 Oil Demand Forecast

OPEC is reported to have just improved its revised forecast for the global oil demand for this year. To be more specific, the cartel expects the demand for crude oil to increase by 1.3% YoY all the way up to 95,6 million barrels a day. This is what January’s OPEC report indicates.
 

 

Experts say that the revised forecast resulted from higher oil demand coming from Europe due to cold weather forecasts and shortage of fuels for various kinds of transport.  To be more specific, the demand for OPEC oil is expected to increase all the way up to 32,1 million barrels a day. At the same time, the production of crude oil in non-OPEC nations is probably going to increase up to 57,3 million barrels a day, experts say.
Publication date: 18 January 01:34 PM

Will Russia Actually Cut Oil Production As Agreed?

For those of you who don’t know, OPEC as well as some non-OPEC nations, including Russia, are going to cut their oil production to favor higher oil prices as the result of shrinking the global supply of crude oil. It seems like this is the first cooperation between OPEC and non-OPEC nations since 2001.

 

 
Publication date: 16 January 11:56 AM

Crude Oil After Christmas Holidays

Saudi Aramco, Saudi Arabia’s national oil company, has recently announced higher export prices for all if its Asian importers. Experts say that this move has to do with the fact that the Saudis are getting ready to implement the production cuts according to the Vienna Accord reached by OPEC in December 2016.

 

 
Publication date: 09 January 06:18 AM

Oil Prices May Crash Down To $10/b, Experts Say

Over the next 5 years, the world may suffer from 5 “energy tsunamis”, which may trigger a major crash in the global market of crude oil. This is what Bloomberg says, with reference to Thierry Lepercq, Executive Vice President of Engie.
 

 

According to Mr. Lepercq, who is in charge of supervision of the Research & Technologies and of the Innovation at Engie, the international market of crude oil is going to feel increasing pressure coming from cheaper solar energy and other clean energy sources. At the same time, the growing amount of electrocars and “smart homes” as well as cheaper accumulators are going to make things even worse for crude oil, making it a less consumable commodity.
Publication date: 22 December 05:37 AM

Global Oil Prices Have Entered Red Zone

Crude oil starts getting cheaper again. The negative tendency was set yesterday, when Brent and WTI oil dropped down to 55,11 dollars per barrel and 53,16 dollars per barrel respectively.
 
Publication date: 22 December 02:53 AM

Crude Oil Prices Retrace On API Figures

After rising all the way up to 57 dollars per barrel, a new 18- month high, oil prices started retracing again. Despite numerous bullish predictions coming from the international expert community, whose optimism was mainly backed by the recent Vienna Accord implying oil production cuts by both OPEC and non-OPEC oil nations, oil prices are seeing a downtrend today.  This is confirmed by the oil price chart, courtesy of Masterforex-V Academy.

 

 
Publication date: 14 December 06:44 AM

Saudi Arabia Sets New Oil Production Highs

In November 2016, Saudi Arabia increased its oil production all the way up to a new record high, even despite the recent agreement within OPEC to cut the cartel’s oil production down to 32.5 million barrels a day.

 

 
To be more specific, Reuters reports that the Saudis increased their oil production all the way up to 10,72 million barrels a day, thereby setting a new production high once again. For those of you who don’t know, back in July 2016, the local oil production was around 10,67 million barrels a day, which was the previous major high.
Publication date: 12 December 11:27 AM

Non-OPEC Oil Producers Will Cut Oil Production, Bloomberg Says

The world’s biggest non-OPEC oi producers are reported to have agreed to cut their oil production by as much as 600K barrels a day. This is confirmed by Bloomberg, with reference to some delegates participating in the OPEC summit in Vienna. OPEC decided to cut its oil production by 1.2 million barrels a day all the way down to 32.5 million barrels a day.

 

 
Publication date: 11 December 03:03 PM

Is It Possible To Implement OPEC's Production Cut Plan?

For those of you who still don’t know, OPEC decided to cut its production quotas all the way down to 32.5 million barrels a day during the recent summit in Vienna, which took place on the last day of November 2016. The production cuts already triggered a price rally in the global market of crude oil. This is good news for all oil-producing nations around the globe since higher prices mean higher income from oil exports for those nations.

 

 

Publication date: 09 December 08:03 AM