Oil price news

Oil prices fell further on Thursday as a result of continuing doubts over the AstraZeneca vaccine and a rise in US crude inventories.

Oil prices are declining today as the market fears crude stock levels in the US could rise again and as the speed of the global oil demand recovery is under threat amid Covid-19 vaccination campaign setbacks.

Oil prices kept their healthy levels on Friday as the market is realising that supply is getting tighter compared to the recovering demand, with the first indications evident on Saudi deliveries.

Oil prices continue to rise as the previous day’s OPEC+ meeting paved the way for stock draws and surprised the market.

The approximately two-month survey is expected to commence in 3Q21 covering an estimated 2700 km2.

Oil prices stated the day with optimism after several days of trimming February gains, as markets hope for positive news from this month’s coming OPEC+ meeting.

Oil prices started the week boosted by the US stimulus bill that the US House of Representatives passed but a risk of bearish developments could trim gains going forward.

Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, and its Head of Shale Research, Artem Abramov, have commented on today's oil prices and on US oil production respectively.

Oil prices have jumped as the extreme cold weather the US is experiencing is impacting oil production, but refinery outages are limiting the price ascent.

Oil prices have jumped again as cold weather causes US supply growth slowdown, in addition to an overall bullish market sentiment.