It is important to understand that more than 150 different blends of crude oil are produced worldwide, and their production costs can vary significantly. Some are more desirable and easier to refine than others (requiring less processing) and are classified according to their weight (light vs. heavy) and their acidity (sulfur content). Estimated extraction costs […]
A few weeks ago, at the beginning of January, when crude oil was finally rebounding from the $57.5–$60 area, we highlighted the importance of the $66 level—a threshold that had acted as a floor since 2022 and had been broken to the downside only last April. Admittedly, according to OPEC and EIA data, the world […]
Global equity markets are lower this morning following yesterday’s turbulence in gold and other precious metals. XAUUSD, after reaching $5,600, experienced heavy profit-taking that pushed prices down toward $5,030 before closing at -1.35% (currently down a further 4.38% today). In addition, markets are expecting President Trump to announce the next Fed Chair later today (U.S. […]
News of the capture of Nicolás Maduro, now former president of Venezuela, might lead some market participants to expect an immediate impact on energy markets. This assumption is understandable, given that the Caribbean nation sits atop the world’s largest proven oil reserves, estimated at 303 billion barrels—approximately 17% of global reserves—according to data from the […]
Over the past weekend, OPEC+—the world’s leading oil-producing coalition comprising eight countries including Saudi Arabia and Russia and accounting for roughly one-third of global crude output—announced a voluntary pause to the production increases originally planned for the next three months. The initial proposal envisaged adding 1.65 million barrels per day to its current output of […]
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