Where exactly is crude oil prices headed from here?
The price of crude has had a volatile period since the beginning of 2016. After touching a low of around $30/bbl in early 2016, crude bounced back sharply to almost the $45 level. It was only post November that Brent Crude actually breached the $50 mark decisively and perched closer to the $56 mark. However, over the last few days, the price of Brent is back to around the $50 mark. Where exactly is Brent headed and what could determine the road ahead for crude? Continue reading “Crude Oil Prices”
Brent Crude prices have rallied sharply since the OPEC meeting on November 30th when oil quotas were agreed upon. However, after an 18% rally the oil prices have stagnated. Does oil really have much more steam left? Continue reading “Stagnant Growth inspite of Surge in Brent Crude Prices?”
The big story for the Indian economy over the last 2 years has been the dividends from cheap oil. Brent crude fell from a high of $114/bbl in mid-2014 to a low of $28/bbl in Feb 2016. Over the last 8 months, the price of Brent crude has nearly doubled to $54/bbl. In fact, since the OPEC agreed upon supply quotas in its November 30th meet at Vienna, the price of Brent has moved up from $46/bbl to $54/bbl. Here are 3 things that India needs to watch out for in the coming months… Continue reading “Does India really have to Worry about Rising Oil Prices?”
For the first time since 2008, the OPEC at its Vienna meeting on November 30th decided to put supply restrictions. In fact, the OPEC went one step ahead. It also agreed upon the sharing of production cuts among the OPEC member nations. But, the question is whether it will really prop oil prices?
Continue reading “Will OPEC’s Decision to Cut Production really Help Oil Prices to Move Up?”
The OPEC meeting on November 30th at Vienna actually turned out to be highly productive for the OPEC. The cartel which accounts for nearly a third of global oil production has decided to cut production of crude oil by nearly 1.2 million barrels per day (bpd). That will effectively take the total OPEC production down to 32.5 million bpd. While this will definitely boost the price of oil in the short run, the question is how significant is this cut in production. Continue reading “OPEC finally agrees to a production cut; but what does that mean?”