Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Saturday, 20 October 16:31 (GMT -05:00)



Stock and commodities markets

Wall Street Banks Improve Their Oil Forecasts


For the first time in 6 months, Wall Street banks seem to be optimistic about the near future of crude oil, The Wall Street Journal reports.

 

In late October, Bloomberg interviewed America’s 14 biggest investment banks. According to the results of this survey, the average prices of Brent and WTI oil are expected to be around 54 and 51 dollars per barrel respectively. The forecast exceeds the previous one by 1 dollar per barrel for each of them.

 

Last week, Brent oil exceeded the $60/b threshold for the first time in more than 2 years. Experts say that the recent price rally indicates success – the OPEC+ agreement signed in 2016 and extended this year seems to be finally brining fruit.

 

NordFX experts say that it’s now clear why Saudi Arabia, Russia and other OPEC+ participants are willing to extend the deal even further to try and push oil prices even higher.

 

According to a special committee responsible for monitoring the process of implementing the OPEC+ deal, as of September 2017, all the participants complied with the deal by 120%. However, NordFX experts say that the future of the OPEC+ deal is now questioned because of the oil production in the United States. According to The Wall Street Journal, the recent success in the global market of crude oil was mainly dictated by a production slowdown in the USA because of the hurricanes (737 oil rigs last week against this year’s high of 768).

 

However, Commerzbank analysts predict an increase in the U.S. shale oil production in the 1st quarter of 2018 up to a record-high 10 million barrels a day. If that’s the case, this is probably going to press down the prices and make them retrace in the following months. It should be noted that last year WSJ experts predicted the average price of $72/b, while today’s forecast is only $58/b.

 

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

USA Leaves China Without Crude Oil, Russia Is Ready To Compensate

The trade war between the United States and China is still underway. Earlier this month, America made another attempt to undermine the Chinese economy. The thing is, that up until recently, America used to be one of the biggest exporters of crude oil to China. In summer, the U.S. export of crude oil to China used to be equal to 10,5 million barrels a month. At this point, America has almost suspended the export of crude oil to China. Last month American oil companies shipped as little as 600K barrels, with no oil shipping planned for this month.

Publication date: 17 October 10:29 AM

Evgeniy Filichkin: FortFC Launches pre-ICO

While skeptics armed with political axioms, and complicated math formulas, are trying to persuade the world that sooner or later, the cryptomarket industry is doomed to exhaust its potential at some point in the future, the cryptomarket itself is becoming a part of the global economy.

Publication date: 03 October 09:10 AM

Trump is helpless: oil prices keep going up

Oil prices keep going up. Brent oil has just exceeded $83/b. Obviously, Donal Trump's attempts to urge the OPEC to increase their oil production have filed so far. For those of you who don't know, not so long ago Donald Trump threatened the OPEC in general and Middle-Eastern oil producers in particular with consequences if they refuse to start increasing their oil production to dump international oil prices as soon as possible. However, those threats seem to have had no impact on the OPEC and the prices are still going up. 

Publication date: 01 October 10:15 AM

Trump Will Take Revenge on Middle East because of Crude Oils

Donald Trump threated some Middle Eastern oil producers to take revenge on them because of crude oil prices. This is not the first time the American president is criticizing the Middle East in Twitter for being reluctant to contribute to lower oil prices. 

Publication date: 24 September 10:02 AM

China declares crude oil war on USA

Beijing is now considering the opportunity to cut down on the export of crude oil from the United States in response to Washington's decision to raise the import duties on Chinese products. The energy war between the USa and China may also affect Russia.

Publication date: 11 September 11:55 AM

China's dependence on crude oil increases fast

Over the last few years, China has been getting more and more dependent on the import of crude oil and some other energy carriers. Most of those oil imports are of Russian origin. the thing is that CHina's domestic oil and natural gas production has been contracting over the last few years while the country's production capacities have increased and are now in high demand of more energy.

Publication date: 11 September 10:40 AM

Trump Is Close to His Goal - Oil at $50/b

According to Finanz, President Trump is close to making oil prices drop down to $50/b like never before. Last week was bearish for the global market of crude oil. This happened mainly due to the agreement between the U.S. president and the King of Saudi Arabia.

Publication date: 23 August 11:36 AM

Investment Banks Raise Their Oil Forecasts

The world's biggest investment banks have raised their oil forecasts again, for the 10th month in a row, The Wall Street Journal reports. 

Publication date: 02 August 12:00 PM

Oil Prices May Skyrocket to $400/b if Iran Blocks the Strait of Hormuz

Blocking the Strait of Hormuz will inevitably trigger a global energy crisis while pushing oil prices to unseen heights, maybe even all the way up to $400/b. This is what the experts interviewed by PRIME think about the situation.

Publication date: 19 July 09:45 AM

Higher OPEC+ Production Quotas Won’t Raise Oil Prices, Kudrin Says

Chairman of the Russian Accounts Chamber Alexei Kudrin assumes that the OPEC+ participants’ decision to increase the daily oil production quotas won’t affect international oil prices.

Publication date: 16 July 09:58 AM