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Thursday, 18 January 02:04 (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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Oil Prices Will Be Affected By Geopolitical Risks in 2018

The end of 2017 was clearly positive for oil-exporting nations. For example, Brent oil futures traded at 66,60 dollars per barrels on December 29th. Will the existing bullish trend persist in 2018? 

Publication date: 16 January 06:32 AM

Euro Exchange Rate Reaches Highest Level Since Late 2014

The common European currency keeps on growing driven by the news on the formation of a new German government. The price rally started in 2017. At the same time, experts are getting more and more optimistic about the prospects of the Eurozone and the European Union in general, Deutsche Welle reports.


Publication date: 16 January 01:49 AM

Experts Criticize OPEC+ Agreement for Unpredictable Outcomes

OPEC exporters may beat the target related to the OPEC+ agreement, which now seems to be a point of concern for international investors, The Wall Street Journal reports.

Publication date: 27 November 05:06 AM

Market Reaction to Zero Change in Fed’s Rate

Publication date: 23 September 03:30 AM

U.S. Investigation of Offshore Capitals May Ruin Putin’s Regime, Aslund Says

The international expert community has been busy discussing the search of Russian offshore capitals by Americans. Anders Aslund assumes that this investigation may eventually put an end to Putin’s regime.

 

 

 


Publication date: 06 September 11:37 PM

Russia Is Against Further Oil Production Cuts, Bloomberg Says

Moscow is against cutting their oil production any further if there is such an offer further down the road. They know that if they have to meet with OPEC members anytime in the near future, and given the fact that the recent extension of the Vienna Accord seems to be failing to do what it’s meant to do, such an offer may really be the case. By the way, Bloomberg reports that another Russia-OPEC meeting is scheduled for July 24, 2017 in Saint Petersburg, Russia.

Publication date: 05 July 07:13 AM

Pavel Krymov on the New Look of Venture Investing

Not so long ago, Ukraine hosted the first conference dedicated to block-chain business. The event was visited by some of the most popular representatives of the crypto-currency industry, including the owners of crypto exchanges, top managers, investment fund managers, developers, and the owners of other related financial projects.

 

Pavel Krymov, who is a well-known and respected expert in financial marketing, investing, and the author of several exclusive strategies of promoting financial services, was also among those who visited the conference.

Publication date: 16 June 09:22 PM

Nobody Can Predict Today’s Crude Oil Market

Today’s global market of crude oil keeps on bringing new surprises. This means it more and more difficult for international experts to predict future oil prices.

 

 
In his articles, oil market observer Sergei Shelin says that the representatives of the so-called international expert community failed on their forecasts once again the other day. To be more specific, nobody could have thought that the recent decision to extend the so-called Vienna Accord during the recent OPEC summit in the capital of Austria would eventually result in lower oil prices instead of pushing those prices higher.
Publication date: 08 June 07:11 AM

Bitcoin Crashes

Bitcoin has crashed by more than 600 dollars per 1BTC. This is confirmed by Coinbase. To be more specific, the exchange rate dropped all the way down to 1961 dollars per 1BTC. Experts say that this is not the end, and the crypto currency may well continue getting cheaper in the near future.
 
Publication date: 01 June 07:26 AM

Experts Don’t Believe That OPEC Will Push Oil Prices Higher

The average price of crude oil is still around 45 dollars per barrel. Some experts believe that no further production cuts will managed to change the situation and make the prices reach new local highs.

Publication date: 24 May 10:00 AM