IMO Imperial Oil
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- -0.320-0.46%
- 69.672
- -0.038-0.05%
Imperial Oil News
The Iran plane crash didn't spoil the oil market? Industry warns OPEC+ inventory will calm fluctuations
① The unexpected “steadiness” of the oil market on Monday was very different from the performance of the precious metals market, which soared due to news of the Iranian President's helicopter crash; ② On the other hand, Saudi Crown Prince postponed his visit to Japan due to Saudi King Salman's physical factors, and both major oil producers faced significant political risks; ③ Some analysts pointed out that the influence of geopolitics on the oil market has become inelastic, which is related to OPEC+'s large inventories.
Another uncertainty in the oil market: the Saudi king is sick, and the crown prince cancels his trip to Japan
Will the Saudi king's health issues affect the coherence of the country's oil policy?
Hedge fund bulls left the oil market and sold at the fastest speed in over a year!
As geopolitical risk premiums weakened and the market showed signs of sufficient supply, fund managers' long crude oil positions fell the fastest since March 2023 last week.
UBS: OPEC+ is expected to extend the production reduction agreement for at least 3 months, and oil will rise to $91 in June
OPEC+ will hold its next meeting on June 1, and UBS expects that the organization will agree to extend the voluntary production reduction agreement to maintain the balance of the oil market.
Oil Set to Eke Out Weekly Gain as Supply and Inflation Set Tone
Oil headed for a modest weekly gain as futures stayed in a narrow range, with the outlook for supply and inflation in focus.
Wildfires Could Impact Over Half of Canada's Oil Sands Output - Report
Trump's victory will allegedly push to reshape the IEA and shift its focus to fossil fuels
① According to media reports, if Trump enters the White House again, he may push for a change in the director general of the International Energy Agency (IEA) to return the agency's focus to fossil fuels rather than climate change; ② As governments have set energy transition goals one after another, the IEA has now expanded its focus from oil and gas supply to clean energy.
The “God of Crude Oil Trading” backed Cocoa across borders, threatening that the price might soar to more than 20,000 US dollars!
Star trader Andurrand continues to be optimistic about cocoa, and also shared his views on crude oil and copper.
Oil Prices Pull Back as Post-CPI Relief Rally Runs Out of Steam
Oil futures edged lower Thursday, losing ground after a relief rally sparked by data showing a slowdown in key U.S. inflation data ran out of steam.
The trigger for the decline in the oil market? Diesel weakness has become a new focus!
Energy economists say the weakness of diesel is becoming more structural due to the increasing role of renewable diesel.
[Crude oil market closing] Inflation data strengthens expectations for the Fed to cut interest rates. The Canadian wildfires caused a supply crisis, and the rebound in oil prices responded
The market balance is bullish with the US economy and crude oil storage data and the International Energy Agency's forecast of a weak global economy, leading to an increase in oil demand. Meanwhile, a fire broke out in the major Canadian oil town, causing the market to worry about crude oil supply. Oil prices rose nearly 1% from a two-month low on the previous trading day.
EIA crude oil inventories fell beyond expectations! Decreased by 2.508 million barrels month-on-month
According to the EIA report, for the week ending May 10, US commercial crude oil inventories excluding strategic reserves fell by 2.508 million barrels to 457 million barrels, a decrease of 0.55%, which was higher than market expectations.
Energy consulting firm Rystad Energy: Gasoline demand will reach a new high since 2019 this summer
Energy consulting firm Rystad Energy said that despite recent signs of market weakness, global demand for gasoline will remain strong this summer, and consumption is expected to reach the highest level before the pandemic.
The IEA lowered its 2024 oil demand growth forecast to only half of what OPEC expected!
The International Energy Agency (IEA) lowered its forecast for oil demand growth in 2024 on Wednesday (May 14), further widening the agency's differences of opinion with the Organization of Petroleum Exporting Countries OPEC (OPEC) on the outlook for global oil demand this year.
The IEA “sings the opposite” with most of its peers: global oil demand growth is expected to continue to weaken!
The Paris-based International Energy Agency (IEA) released its latest monthly crude oil market report on Wednesday. The agency said that due to the economic slowdown and mild European weather, the outlook for global oil demand growth continues to weaken this year.
Global Oil Demand Growth Outlook Continues to Soften, IEA Says
The outlook for global oil demand growth this year continues to soften amid an economic slowdown and mild weather in Europe, the International Energy Agency said.
Oil Advances With Supply in Focus as US Stockpiles Seen Lower
Oil advanced after an industry report showed shrinking US stockpiles, and traders looked ahead to a report from the International Energy Agency that may shed light on market balances into the second half.
OPEC+ opens rip mode, and “old scars” are once again unraveled
OPEC+ reopens the dispute, and discussions about the oil production capacity of its products OPEC+ once again faced a difficult problem: how much oil can actually be absorbed by its products. This issue poses a risk to the organization's efforts to stabilize the world market.
Express News | OPEC maintains global oil demand forecast for this year and next
Oil Declines With OPEC Forecast Unchanged, as Traders Weigh the Interest-rate Outlook
Oil futures moved lower on Tuesday, giving back part of the gains seen a day earlier, as the Organization of the Petroleum Exporting Countries left its monthly forecasts largely unchanged and traders weighed the outlook for interest rates, and their potential impact on energy demand.
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