In the last few days, the oil price has shot up. John Stepek looks at what’s behind the spike, and what the future may hold for the oil market.
Energy: the MoneyWeek view
August 2015: Oil plunge may not be over Oil is below $50, and could hit the six-year low of $45. Weak data from China has fuelled fears of weaker demand growth, and the end of sanctions against Iran could add more oil to an oversupplied market. The US rig count has risen, and Saudi Arabia is still producing at full pelt.
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The slide in oil prices since last year is slowly reshaping the global balance of power.
With the price of Brent crude slipping to a six-month low, it won’t be long before triple-digit prices are a distant memory.
From oil to Chinese stocks, panic is spreading through the markets, says Merryn Somerset Webb.
Saudi Arabia is showing the global oil market that only one producer is capable of ramping up production.
In a bid to squeeze US shale producers out of the market, Saudi Arabia has been pumping more oil than ever. Now, with Iran set to re-enter the oil market, things are going to get nasty, says John Stepek.
The oil price could head lower in the near future – and won’t bounce significantly for some time.
The oil price had been staging a comeback. But now it’s taken another tumble. Matthew Partridge looks at how far it might fall, and how you could profit.
The nascent UK fracking industry has suffered a major setback following Cuadrilla’s failed bid to drill four exploratory wells.
Applying shale techniques to mature conventional oil fields could tap another 140 billion barrels worldwide.
Benchmark Brent oil futures have bounced by 40%, but aren’t likely to surge back to the $100 a barrel region anytime soon.