SEB

American voters will be closely watching the results of the 2020 U.S. presidential election after polls close Tuesday, with GOP President Donald Trump and Democratic former Vice President Joe Biden vying for the Oval Office — and so will the oil industry.  Oil Price...

Full or partial pandemic lockdowns this winter could put oil demand at more risk, OPEC's Joint Ministerial Monitoring Committee panel said Monday.  The OPEC committee should stick to cuts that are now in place and hold out for COVID-19 vaccines, said SEB commodities analyst Bjarne...

Crude oil prices are likely to continue to tick higher until we see U.S. shale oil reactivation displayed as a rising drilling rig count, according to one SEB analyst. The 2020 oil crash and COVID-19 pandemic have had a huge impact on shale oil producers in North America, which require...

Oil futures were trading higher Monday after the Organization of Petroleum Exporting Countries and its allies met by videoconference call on Saturday and agreed to extend the 9.7-million-barrel-per-day production cuts through July. Capital Economics says the Saturday conference was...

The United Kingdom is meeting for the fourth round of Brexit negotiations between London and Brussels Tuesday, as a comprehensive trade deal to replace the transition phase by the end of this year kicks off. The U.K. officially left the European Union on Jan. 31 and is...

The recent crash in oil demand brought prices below zero in April as storage for the commodity ran out, but this issue is expected to be a short-term one. “It is clear that the extremely fast decline in supply of 3.5-4.5m bl/day in the U.S. and Canada has helped to balance the market,”...

The April slump in crude oil is continuing to attract speculative buying in May, and the outlook remains bleak with the market having a long way to go before balancing out, analysts say.  The risk of storage running out is being offset by the focus on falling production and the expected pick-...

The shares of several oil stocks were trading lower Monday, after the price of oil fell significantly down to $11 per barrel as storage for the commodity runs out and demand remains depressed. WTI Crude was down 40.72% at $10.83 at the time of publication.  Oil prices plunged 40%, the...

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...

The price of oil clawed its way back up Tuesday: the WTI oil price gained 3% to settle around $24 per barrel. Volatility is expected to continue as the coronavirus outbreak and slowdown in business add pressure to oil prices. On Monday, Russian oil minister Alexander Novak was in...

Oil prices have started to rebound and one analyst warned Thursday that the market is standing on the shore and facing a tsunami of oil surplus in April.  On Wednesday, the price of oil fell to an 18-year low. WTI crude fell as much as 26% to $20.06 as the spread of the...

The German “export engine” is spluttering and a recession is looking increasingly likely, according to economists.  Data released Tuesday showed that the German economy contracted by 0.1% in the second quarter.  “The ongoing trade war has considerably...