PVM IS THE WORLD’S LEADING BROKER OF OIL INSTRUMENTS HOME PRODUCTS PEOPLE CAREERS INSIGHT EOD PRICING REQUEST FORM CONTACT About admin This author has not yet filled in any details. So far admin has created 122 blog entries. Sell the rumour, buy the fact Forget the strong dollar, flare ups in coronavirus infections or concerns about inflation. Yesterday it was all about the battle between consumers and producers for supremacy. If it were a football game one might say producers are winning one goal to nil and their opponent has scored a rather spectacular own goal – at least [...] November 24th, 2021 The day of unnamed sources The rumour mill has gone into overdrive. Conspicuously, there are contrasting interests and views that have and will have profound impacts on oil prices and cause spikes in volatility. After the rejection from the OPEC+ group to increase output consuming nations are turning to the last resorts to put extra barrels to the market – [...] November 23rd, 2021 Two birds with one stone Who would have thought that a small EU nation with the population of less than 9 million will provide a (possibly short-term) relief for central bankers as well as consuming countries that suffer under high oil prices? After Austria announced a nationwide lockdown on Friday the market went into freefall. As the NYMEX RBOB contract [...] November 22nd, 2021 Taking the fight to OPEC Joe Biden is in a pickle. Asking domestic producers to boost output is politically incompatible with his administration’s climate agenda. So, he is forced to lean on others. Having failed to persuade OPEC+ to speed up its production, the US is now piling pressure on the world’s largest oil importing nations. President Biden has reportedly [...] November 19th, 2021 Total capitulation? Few months ago, a weekly US inventory report similar to yesterday’s would have triggered a respectable price rally. It was a reliably supportive set of data that showed crude oil inventories decline by 2.1 million bbls due to the 490,000 bpd fall in net crude oil imports and the 1.2% rise in refinery utilization rates. [...] November 18th, 2021 Winds of change Everything that has a beginning has an end. OECD oil inventories have declined since 3Q20 and in doing so have sunk to their lowest levels since 1Q15. Yet as we prepare to say goodbye to 2021, we are also poised to bid farewell to the long-running drawdown in global oil stocks. That was the key [...] November 17th, 2021 Words can be louder than action Unquestionably, the most significant event of the past two weeks and possibly the last few months that was expected to shape the future of the globe for decades to come was the climate conference held in Glasgow. It was supposed to ensure that the commitments undertaken in the Paris climate agreement of 2015 will be [...] November 16th, 2021 A week of two halves It all started so well. Oil prices rose to a two-week high in the early part of last week on the back of tightening oil inventories. Yet the feel-good factor did not last. Supply and demand factors subsequently took a back seat to US inflation worries. Indeed, the risk asset complex was sent into reverse [...] November 15th, 2021 Danger ahead While the global economic recovery is poised to continue, the demand side of the oil equation faces several challenges. That was the message from OPEC’s latest monthly report, released yesterday. A combination of elevated energy prices, rising COVID-19 infections, supply chain issues and growing inflation are expected to partially cap oil demand in the near-term. [...] November 12th, 2021 Inflation concerns to the fore You could be forgiven thinking that, just by looking at the settlement prices, Iran has managed to strike a deal with Western powers, and they will resume crude oil exports this week and/or resurgent coronavirus has forced countries to re-introduce mobility restrictions, which significantly hampers oil demand growth. The truth, however, is that outright prices [...] November 11th, 2021 1 2 Next © PVM OIL 2019 Privacy and Cookies policy By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Cookie Notice Cookies Settings Accept All Cookies