Spark Global Limited Daily crude oil analysis

Oil: On the technical side, crude oil is highly likely to have formed a top, falling more than $6 per week and showing signs of accelerating decline. Note, however, that the weekend’s mideast war could trigger a rally in crude oil, but the odds of a change in trend are slim. Houthi drone attacks on […]

U.S. oil producers are in no rush to increase production

Spark Global Limited reports: Most of the Republican oil industry in the United States has no political will to help President Biden lower energy prices by increasing oil production. There is another important reason: they will make more money by staying short of oil. So far this year, US oil prospectors have made more money […]

Rosneft: Oil could reach $120 / BBL next year

Spark Global Limited reports: Global oil prices could rise to $120 by the middle of next year as Opec + ‘s ability to meet demand is at risk from underinvestment and sanctions, according to a senior Rosneft PJSC executive. Otabek Karimov, Rosneft’s vice president in charge of commerce and logistics, told a conference: “At the […]

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