OPEC

With fears that the world is so overflowing with crude oil that markets will literally run out of places to put it, attention has turned to another option to hold it: railcars. But it doesn't look like it's going to happen, so those who need to be sure those railcars are available for other uses...

As the world continues to grapple with COVID-19, Crude Oil faces an especially challenging situation with the WTI contract yesterday making 18-year lows at 19.20. Global demand for oil has been devastated as people around the globe are staying put to avoid the virus, while the product...

Good day, Ware2Go is partnering with 1M Masks to ship over one million medical masks to healthcare workers at no cost. Warehouse operator Transformco is donating labor costs at its Fairless Hills, Pennsylvania, warehouse to support the effort. Ware2Go is donating its logistics technology, network...

The oil price war came to an unofficial end after the world's largest oil producers, the OPEC+ group, said they collectively cut their output by 9.7 million barrels of oil per day. Here's how multiple experts reacted to the latest developments. Senator Says Deal An Important First Step...

Never before has oil production been slashed this much this quickly, but it still isn't enough to offset coronavirus demand destruction. OPEC and cooperating non-OPEC countries such as Russia (a coalition known as OPEC+) will cut output by 9.7 million barrels/day (b/d) in May-June, 7.7 million b/d...

With demand for crude products on the decline due to the coronavirus, OPEC over the weekend announced the largest production cut ever. The multi-lateral decision to cut 9.7M bpd came after weeks of negotiations, while the cut itself is four times larger than the one back in 2008, which was the...

Oil prices posted gains early Monday after the Organization of the Petroleum Exporting Countries and allies agreed to long-awaited production cuts in a Sunday meeting. What Happened The United States futures options dipped as the 9.7 million barrels per day cut (mb/d), the OPEC+ countries agreed to...

Good day, The World Trade Organization (WTO) expects global trade to decrease anywhere between 13% and 32%, with the wide spread due to the uncertainty behind the economic impact of the ongoing COVID-19 health crisis. To put the numbers in perspective, the largest drop during the 2009 financial...

A group of oil exporting nations that encompasses OPEC and a Russia-led group of non-OPEC members will meet Thursday, April 9. But one of the most important players in the market now –  the United States – will be there only as the elephant in the room. The virtual meeting of the OPEC+ group will...

Looks like another big week for Wall Street with futures pointing to a positive open for stocks to begin the week. Last night, President Trump and health officials reminded the country that there is a light at the end of the tunnel and we will get through this. As coronavirus lockdowns continue to...

Oil prices dropped significantly late Sunday as the Organization of the Petroleum Exporting Countries meeting scheduled for Monday was postponed. What Happened The OPEC meeting, meant to resolve differences between the Kingdom of Saudi Arabia and the Russian Federation, has been...

Oil prices traded higher on Thursday from lows of $23 to $30 a barrel following a tweet from President Donald Trump that said he had spoken to "his friend," Saudi Prince Mohammed bin Salman bin Abdulaziz Al Saud, who Trump said in turn spoke to Russian ...

Oil prices continued to fall on Monday, reaching an 18-year low as Saudi Arabia and Russia failed to agree on the scale of production and the coronavirus pandemic continued to depress demand.  Analyst: Oil Market Needs Rebalancing “The global oil surplus is increasing fast and refineries...

Equity index futures are pointing to a flat open to begin the week. The focus this morning is on Crude Oil futures and the move lower to an 18-year low overnight — to levels we haven’t seen since 2002 — as coronavirus demand destruction continues to take its toll on price. The...

We are possibly witnessing the largest stock market crisis in the last three decades. It is certainly the largest one since 2008. Up to now, coronavirus has infected more than 187,000 people, causing more than 7,000 deaths. The "pumping at will" behavior exhibited during this oil war...