Infinity Galaxy analysis of the crude oil price on November 25th
Oil prices are expected to be increased! The number of US oil wells are still decreasing to about 671 which is the lowest level in the last 32 months. This fact, have drived the prices up.The US has 7,000 unused drill wells (DUCs) that could come into production in the event of a supply crisis. Contrary to expectation, some analysts believe that new drilling technology will make some of these wells unusable which can’t be neglected.The supply limitations are so serious that institutions such as Adkins US raise oil price forecasts this year and advise customers to buy Halliburton and Bakeries shares! Adkins sees the trend as bullish for crude prices and especially for oilfield service providers such as Halliburton and Baker Hughes, and for sand.
Infinity Galaxy analysis of the crude oil price on November 11th
For the first time in 40 years, the United States had $ 300 million in oil surpluses in September, which was more than imports. The number of US oil wells declined for the third consecutive week last week, falling 7 rounds to 684, the lowest level in 31 months, which is good news! China’s crude import in October increased 17% . 10.76 million barrel daily, which is a new historical record about 45.51 million tonnes! In Iraq, demonstrators block 90,000 barrels of oil and block roads. Exports have continued from the port of umm al qasr port, but the global oil market is concerned.
Infinity Galaxy analysis of the crude oil price on November 4th
Progress in Us-China trade negotiations and news spread about these two countries’ economic statistics, such as Us employment and China’s manufacturing activities, all have caused about 2% increase in the oil price this week.
Infinity Galaxy analysis of the crude oil price on October 28th
Killing of the ISIS leader in the US military operation, an estimated peace and the truce between Turkey and Syrian Kurds, liberals accomplishment of the majority of the votes in the Canada election, the winter coming in North hemisphere, continuance of US-China negotiations, and optimistic thoughts about getting positive conclusions of these two countries trade war, all have caused the start of the markets with a positive policy.
Infinity Galaxy analysis of the crude oil price on October 21st
The temporary truce between Turkey and Syrian Kurds, approximate calm in the Persian Gulf and the suppositions of the global recession in 2020 have caused a decline in this week prices.
Infinity Galaxy analysis of the crude oil price on October 14th
Complicated Political circumstance in the Persian Gulf, rocket attack on Iranian oil tanker in the Red Sea, the launch of Turkish offensives against northern Syrian Kurds, the escape of the ISIS prisoners in northern Syria, approaching Boris Johnson’s deadline of Brexit and failure to find a solution agreed by all parties and less than two weeks to the Canada election , all have resulted in the starting of the market with a 1 % price increase this week.
Infinity Galaxy analysis of the crude oil price on October 7th
Today, 7th October 2019, by the return of Saudi Arabia to the pre-strike production level and the starting of the Autumn season in the northern hemisphere of the earth, the stability of the oil market is predicted. The result of the negotiation between China and the USA about the trade struggle in the next week will determine the economic future of 2020.
Infinity Galaxy analysis of the crude oil price on September 30th
Positive news according to the return of Saudi Arabia to the oil market and production cycle, simultaneously with the global fuel price reduction, all have resulted in a 1% drop in prices. Making a fragile calm in the Persian Gulf region, Saudi Arabia’s new decision caused approximate stability this week.
Infinity Galaxy analysis of the crude oil price on September 23rd
Today, 23rd September 2019, despite Saudi Arabia’s official comments on the return to previous capacity, accredited risk assessment institutions conclude that this return will not happen this soon. Their assumption, the rise in the northern hemisphere markets, and the beginning of the cold season, all may result in the stability or an ignorable rise in the oil prices.
Infinity Galaxy analysis of the crude oil price on September 16th
Today, 16th September 2019, Saudi Arabia oil prices have risen by 4% to 6% by starting the International oil markets. This increase is considered as a result of recent Saudi Arabia oil facilities strikes and the 5 million reductions in the exported oil. Although the United States and Saudi Arabia have simultaneously announced that they will release their reserves to modify the market strategically, positive changes in the oil prices are quite evident. Complicated political state in the Middle East may cause a hesitancy among the buyers and sellers.
Infinity Galaxy analysis of the crude oil price on September 8th
On the 2nd week of September, a 0.7 % to 2.5 % increase in the base Opec and West Texas oil price seems to appear. Therefore, there aren’t many serious demands on the market. Buyers are waiting for the end of monsoons in East Asia and the beginning of the new markets.
Infinity Galaxy analysis of the crude oil price on September 2nd
Today, September 2nd, 2019, the global oil and energy markets have started by a 2.5% decline in the oil price. Due to the OPEC’s decision to keep the production volume stable, the OPEC oil price has not changed over the past few weeks.
Infinity Galaxy analysis of the crude oil price on August 26th
On the 4th week of August 2019, oil and gas energy markets have started with a deflation ranges from %0.16 to %1.78. So a 2% decrease in the price of petroleum products is expected this week.
Infinity Galaxy analysis of the crude oil price on August 19th
Today 19th August 2019, the world oil price has raised about 1% and the OPEC oil price has started at about 1.87% depreciation. It seems that the products price will rise this week with an average pace, which can be neglected.
Infinity Galaxy analysis of the crude oil price on August 13th
Today 13th August 2019, the crude oil market has started on declining prices compared to last week. It seems the market tend to have a monotonous status these days. Therefore, petrochemical products such as bitumen, paraffin wax, rubber process oil, slack wax, residue wax, base oil, and white spirit appear to be stable in price this week.