Attacks on oil shipping could raise prices (and certainly insurance rates), but the damage to the industry and the economy will be limited short of a major outbreak of violence. Source: Persian Gulf Tanker Incident Demonstrates Oil Industry To Be Both Vulnerable And Robust
Global Oil Shipping Concerns Rise Over Middle East Tensions
While global oil markets are accustomed to factoring geopolitical uncertainty into oil prices, this kind of geopolitical fallout hasn’t been seen for a number of years. The world’s largest oil exporter, that still along with its OPEC+ partners, plays the role of global oil markets swing producer, is seeing an...
Oil Climbs for Second Day
Oil rose for a second day on signs OPEC and its allies will extend production cuts beyond June. Source: Oil Climbs for Second Day
OPEC+ Top Priority: Don’t Crash Oil Prices
OPEC+ is considering increasing production in the second half of 2019, as the oil market tightens following a series of major outages. OPEC+ met in Jeddah over the weekend to assess the state of the oil market and discuss the group’s plans for the rest of the year. Source: OPEC+...