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Crude Oil 2024 Fundamental Outlook Preview

Crude oil production set to outpace demand next year as supply shifts further to non-OPEC+ producers

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December 30, 2023 08:46 PM
Energy

WTI technical analysis: Crude oil extends recovery on Red Sea attacks

After last week’s hammer candle, today’s upside follow through would appease the bulls. Crude oil prices turned sharply higher after BP paused all Red Sea oil shipments following the rebel attacks. WTI has likely formed a bottom after bouncing from its 200-week average last week.

Oil rig in the sea

Crude Oil Analysis: WTI, Brent Bounce, OPEC+ Uncertainty Remains

The tail risks of a failure for OPEC+ to reach an agreement is on the rise, presenting an underappreciated potential for even more volatility in the crude oil market...

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Crude oil looking fatigued after its breakneck run higher

But with fundamentals underpinning the rally, near-term weakness will provide an opportunity to add or establish fresh longs.

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September 7, 2023 12:53 AM
Oil rig in the sea

Crude oil looking good as fundamentals, technicalsalign

Crude oil looks set to resume its battle with sellers parked around the $84 per barrel level.

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September 1, 2023 02:34 AM
Research

Crude oil outlook: OPEC gap finally closed

While I am waiting for a technical reversal signal for confirmation, fundamentally my crude oil outlook is bullish.

Research

WTI Forecast: Crude likely heading higher after OPEC+ cuts

The OPEC+ decision means nearly 1.7 million barrels of oil per day will be held back from global supply. This should help to keep the WTI forecast supported.

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April 5, 2023 03:07 PM
Research

A surprise OPEC+ output cut is a thorn in the side for disinflation

I imagine quite a few central bankers and politicians will be rolling their eyes or shaking their fists OPEC's way, as the surprise oil production cut adds inflationary pressures back into the mix.

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April 3, 2023 01:39 AM
Research

OPEC meeting preview: No change expected, crude likely to remain under pressure

The pulse of the oil market may quicken or slow depending on the outcome, but one thing is certain - the oil market will continue to beat with the rhythm of the global economy.

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January 30, 2023 04:41 PM
Oil rig in the sea

OPEC+ preview: Will OPEC+ cut production again?

According to recent “sources”, OPEC+ is likely to leave production unchanged when it meets virtually on December 4th.

November 30, 2022 04:05 PM
Energy

Crude oil takes another plunge

This time on report that the OPEC+ to discuss production hike by 500K bpd

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November 21, 2022 04:00 PM
Oil rig on an grey day

OPEC+ agrees to a 2,000,000bpd cut!

How much higher will Brent Crude go? It may depend of the size of the energy crisis that is brewing throughout Europe, as well as the extend to any type of price cap placed on Russian oil.

October 5, 2022 04:50 PM
Oil rig on an grey day

OPEC+ agrees to a 2,000,000bpd cut!

How much higher will Brent Crude go? It may depend of the size of the energy crisis that is brewing throughout Europe, as well as the extend to any type of price cap placed on Russian oil.

October 5, 2022 04:50 PM
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European Open: DAX to extend its countertrend bounce? OPEC in focus

Whilst futures markets point towards a retracement against yesterday’s gains across European cash markets, we’re looking for support to hold and break above yesterday’s highs.

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October 5, 2022 05:49 AM
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European Open: DAX to extend its countertrend bounce? OPEC in focus

Whilst futures markets point towards a retracement against yesterday’s gains across European cash markets, we’re looking for support to hold and break above yesterday’s highs.

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October 5, 2022 05:49 AM
Oil rig in the sea

OPEC+ Preview: Will 1,000,000 bpd cut it?

If OPEC+ cuts 1,000,000bpd, be careful of a “buy the rumor, sell the fact” trade.

October 3, 2022 09:13 PM
Oil rig in the sea

OPEC+ Preview: Will 1,000,000 bpd cut it?

If OPEC+ cuts 1,000,000bpd, be careful of a “buy the rumor, sell the fact” trade.

October 3, 2022 09:13 PM

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Crude oil: WTI reversing yesterday’s surge, OPEC+ on tap next week

With most producers already operating at or above capacity and growing signs that the global economy may be slowing, some reduction of supply is looking increasingly likely in the coming months...

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August 30, 2022 03:42 PM
Oil rig on an grey day

Crude Oil continues bounce on OPEC comments

Comments from OPEC+ officials regarding possible supply cuts are currently outweighing fears of a recession. As a result, the price of WTI Crude Oil is moving higher.

August 23, 2022 08:22 PM
Oil rig in the sea

WTI: OPEC+ and inventories send US oil on a rollercoaster ride

Oil prices are on the verge of breaking below strong previous support at the 93.00 level...

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August 3, 2022 05:47 PM
Oil rig in the sea

WTI lower, but it has little to do with the upcoming OPEC+ meeting

With negative manufacturing data beginning in China and continuing throughout the US session, WTI Crude Oil has been trading lower, down nearly 5% on Monday.

August 1, 2022 08:04 PM
Energy

Two trades to watch: GBP/USD, Oil

GBP/USD rises as USD eases ahead of PCE inflation. Oil steadies ahead of OPEC+ announcement.

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June 30, 2022 08:23 AM
Oil rig on an grey day

OPEC preview: Will OPEC+ increase output in August?

When OPEC+ meets later this week, it is unlikely to increase output more than the expected 648,000 bpd.

June 27, 2022 08:39 PM