crude

Global Markets: OPEC members say production cut coming

Posted on by Mozambique Resources Post
Global Markets: OPEC members say production cut coming

Crude oil prices remain sharply lower in volatile trading after OPEC members say they agreed to production cuts but must await Russia before making a final decision on the exact amount and the allocation: WTI -3.9% at $50.79/bbl, Brent -3.2% at $59.56/bbl.

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Global Market: Saudis See Need for Producers to Cut 1MM Barrels

Posted on by Mozambique Resources Post
Global Market: Saudis See Need for Producers to Cut 1MM Barrels

Bloomberg) — Saudi Arabia expressed the need for oil producers to cut 1 million barrels a day from October levels and announced fewer shipments from next month, as OPEC and its allies began laying the groundwork to reduce oil supply in 2019, reversing an almost year-long expansion.

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Global Markets: Natural Gas Soars

Posted on by Mozambique Resources Post
Global Markets: Natural Gas Soars

This week has been the tale of two markets. One being driven lower by a gradual shift in the fundamentals to bearish, the other driven higher by the emergence of a surprise shift in a weather pattern. Crude oil has turned bearish while natural gas is set up for perhaps a test of prices not seen in nearly 4 years later this winter.

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