OPEC reckons oil market fundamentals are unlikely to push prices significantly higher in 2010. The oil cartel said in its latest monthly oil market report released July 14 that lower projected demand for its crude would increase its surplus productio... [more]

Who would have thought when prices hit an all-time high in July 2008 that one year later the market would be struggling to recover fully from a price collapse?... [more]

Global crude oil benchmarks hovered just below $70/barrel last week after having briefly broken out of this level the previous week.... [more]

Oil prices have risen from $33.20/barrel on January 15, to all the way up to the 2009-high of $73.23/b about six months later on June 11. As oil prices continue to rise, price expectations continue to increase.... [more]

Benchmark crude oil prices appear to have consolidated around the $70/barrel mark, unable to break out into higher territory because of a lack of consensus on whether the perceived green shoots of an economic recovery are real or just imaginary.... [more]

Dave Jones, editor of Platts Renewable Energy Report, discusses how the central government in China has made renewable energy development a high priority and is adopting concrete goals for expanding power production from renewable resources; and look... [more]

Esa Ramasamy, editorial director, Americas oil market reporting, discusses why US refiners are shutting down plants even though oil prices have reached record highs for this year.... [more]

Global crude oil prices continued to advance last week, marching past the psychologically significant $70/barrel level, a more than doubling in value in just four months.... [more]

Global crude oil prices posted yet more gains last week despite continued weak fundamentals. Benchmark WTI soared above the $70/barrel level briefly before closing at $68.44/b last Friday, while Brent hit a seven and half-month high of $69.91/b.... [more]

Global crude oil prices continued to gain ground last week, bolstering confidence among optimists in the market who believe that prices have entered a sustained recovery.... [more]