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Exxon claims right of first refusal on Hess' assets in Guyana under an agreement that governs a consortium developing the country's oil resources.
Saudi Arabia's strategic price hikes, geopolitical risks and supply/demand balance keep the crude oil market outlook cautiously bullish.
With Saudi Arabia boosting crude prices, oil futures saw an uptick, hinting at a strong summer demand despite Middle East tensions.
Oil futures edged up on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could st
As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the sp
Crude oil traders should stay vigilant, monitoring upcoming OPEC+ decisions and potential U.S. actions regarding strategic oil reserves.
Oil traders are worried about a potential slowdown of the U.S. economy.
The oil markets have fallen a bit during the trading week, as we are now looking for some kind of reason to get long again. Remember, there are a multitude of noisy reasons to be in this market at the

Where Could Oil Go From Here? ETFs in Focus

09:01am, Friday, 03'rd May 2024
Oil prices may see a recovery in demand if global central banks start cutting rates by 2024-end, and if supply falls due to the replenishment of the US strategic petroleum reserve and continued OPEC+
Oil futures rose Friday, with traders tying support to a news report that some OPEC+ members would be willing to extend production cuts beyond the end of the second quarter.
Oil prices face a significant weekly decline, driven by demand worries and high rates.

Oil Prices Fall as Middle East War Risk Fades

02:30am, Friday, 03'rd May 2024
Oil headed for its biggest weekly decline since February on signs of easing geopolitical risks in the Middle East and weakening across fuel markets. Bloomberg's Stephen Stapczynski reports.
Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners' costs with a likely knock-on effect to industri
USOIL's rally eyes the $80 mark, as OPEC+ cuts hint at tighter supply amidst a cautious global demand outlook.
Oil prices edged up in early trade on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for weekly losses on U.S. economic uncertainty and limited crude supp
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