The oil price remains above $60 per barrel Tuesday, as the current oil output cap between OPEC and some non-OPEC producers is expected to remain in place in 2018. Question marks are also being raised over the future level of output from US shale oil producers. read »October 2017
Oil price moved a little lower Thursday following data showing Us oil inventories rose unexpectedly in the week end Oct 20. However, the ongoing Iraqi conflict around Kirkuk and apparent growing support of an extension to the OPEC output cap helped limit the fall. read »October 2017
The oil price rose Monday as Iraqi fighting around the strategically important city of Kirkuk continued, Us oil drilling fell for a third week and OPEC continues to comply with the output cap agreement. read »October 2017
The oil price maintained its upward momentum Wednesday supported by a number of developments, including a higher than expected draw down on US oil stocks and comments the OPEC and Russia output cap agreement would likely be extended. read »October 2017
The price of oil rose Thursday after news US inventories and production both fell again, while oil imports by china remained strong. However, an IEA report suggested the oil price could hit a ceiling next year if more isn't done to curb production among both OPEC and non-OPEC members. read »October 2017
OPEC's secretary general has called on Us shale oil producers to assist the supply-demand re-balancing effort and to consider becoming part of a solution that would benefit everyone. read »October 2017
The oil price gained a little ground Wednesday as Russian President Putin suggested the current OPEC output cut agreement could be extended beyond the current end date of March 2018. read »October 2017
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