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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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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.

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August 1, 2022 08:04 PM

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

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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.

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June 27, 2022 08:39 PM
Oil rig on an grey day

OPEC + hikes output more than expected

The rumors are still making the rounds that OPEC+ may suspend Russia and that Saudi Arabia may increase production as price continues to soar.

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June 2, 2022 04:59 PM

Oil slips on the last day of (another good) month ahead of OPEC

Whilst oil prices rallied for six consecutive months for the first time in 11-years, its last day of the month was a bit of a let-down for the bull camp.

Asian Open: Keep an eye on AUD/JPY with sentiment on the back ropes

It was a volatile session for investors overnight which saw US indices trade sharply lower, with AUD/JPY showing the potential for a swing high.


OPEC+ set for existing deal despite China, overcompliance concerns

The OPEC and its allies (OPEC+) are continuing to slowly relax the output cuts they introduced in 2020


Don't expect OPEC+ to come to oil's rescue

OPEC+ are unlikely to raise output above the current small increase when they meet on Thursday, despite oil prices trading firmly above $100 per barrel.

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March 29, 2022 12:16 PM

A complete guide to the Organization of the Petroleum Exporting Countries (OPEC)

Meetings and policy changes from OPEC are key drivers of oil prices, so it’s important to understand how the organisation works and how it can impact your positions on oil markets. Find out everything you need to know about OPEC in our one-page guide.

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Two trades to watch: Oil, EUR/USD

Oil surges as sanctions hit, OPEC in focus. EURUSD extends decline ahead of EZ inflation, Fed Powell testimony.

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March 2, 2022 09:07 AM

Oil rises on Russia sanctions, OPEC+ meeting comes into focus

Oil prices rise on supply disruption fears as Russian banks are excluded from SWIFT. OPEC+ meet on Wednesday, will they upwardly revise production targets to ease a very tight market?

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February 28, 2022 11:23 AM

Geopolitical tensions, tight supply, strong demand drive oil higher

Oil prices have rallied 20% so far this year. Here we look at what's behind the latest moves in oil as it looks towards $100 per barrel.

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February 16, 2022 04:43 PM
Oil rig in the sea

Oil dips below $90 as Russia turns down the heat. What’s next?

If Russian/Ukraine tensions escalate, or if OPEC+ can’t keep up with their quotas, price may increase once again.

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February 8, 2022 03:59 PM

OPEC Preview: Is Oil on its way to $100 even with a 400,000bpd increase?

With geopolitical tensions building in Russia, even an “as expected” result may not be able to keep oil prices from continuing to rise.

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January 31, 2022 09:13 PM

Crude oil shrugs off dollar strength, extends rally to new 7-year highs

US crude oil has broken out to its highest level in over seven years above last week’s high near $88.00 and looking at the chart, there’s little in the way of meaningful resistance until above $90.00...

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January 27, 2022 04:05 PM
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OPEC+ hiking output as planned, but it may not be for long: WTI, USD/NOK

If the Omicron variant turns out to be worse than currently expected, WTI could be back at Thursday’s lows very soon!

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December 2, 2021 09:10 PM

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Oil rebounds, expect a cautious stance from OPEC+

Oil rebounds after Friday's selloff looks overdone. OPEC+ meeting on Wednesday & Thursday could see the oil cartel adopt a cautious approach.

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November 29, 2021 11:44 AM
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Asian Open: Pound Sinks Post-BOE, AUD/CHF Falls to 4-week Low

The Bank of England (BOE) became the second central bank to catch out hawkish bets this week, behind the RBA – and both events continue to weigh on their respective currencies.

OPEC+: No more oil for you!

Members agreed to keep the current oil output at an increase of 400,000 bpd for December, despite a call by some countries for more supply

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November 4, 2021 07:40 PM

Two trades to watch: GBP/USD, FTSE

Will the BoE hike interest rates? GBPUSD falls post Fed & ahead of BoE. FTSE looks to BoE & OPEC+

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November 4, 2021 08:02 AM
Oil rig on an grey day

Oil Slips Ahead of OPEC+ Meeting

Oil prices fell to a 4-week low overnight, during their most bearish session in 3-months.


OPEC+ meeting: Additional supply increase unlikely

OPEC+ are due to meet on Thursday. An additional supply increase appears unlikely even though oil prices trade around multi-year highs.

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November 2, 2021 09:51 PM