OPEC

Oil prices continue to move lower as health officials across the globe express concerns over the new coronavirus variant. Patrick DeHaan with GasBuddy said because of Omicron, oil prices continue to drop, trading in Monday’s action in the up $60 per barrel range. He ...

It’s been a turbulent start to November for oil prices, which over the past week have traded as high as $85 per barrel, and as low as $78. West Texas Crude was trading around $82 in Monday’s action. Why the volatility? OPEC decided to stick to its guns and increase oil production slowly, by the agreed to 400,000 barrels to start the month of November. Patrick D ...

Consumers continue to deal with high prices at their local fuel station, thanks to the highest crude oil prices we’ve see in the past seven year. West Texas Crude was trading above $84 per barrel in Monday’s action, pushing gasoline and diesel prices higher. Patrick D ...

Oi price continue their slow march higher, trading Monday around $82 per barrel, the highest prices since April 2020. Patrick DeHaan with GasBuddy says oil production is lagging far behind demand. “Certainly not helped by the energy crunch that’s happening overseas.  China is ...

Oil prices traded above $81 per barrel in Monday’s action, the highest level for oil prices since 2014.T hat, in turn, as pushed both diesel and gasoline prices to the highest levels reported in seven years. Why have oil prices increased so much over the past couple of months? ...

West Texas crude traded higher in Monday’s action, shortly after OPEC announced plans that the oil producing group will stick with its initial plan to increase production by 400,000 barrels per day starting next month. Many experts has hoped OPEC would increase production to alleviate some of the growing pressure thanks to increased demand. Bec ...

The "new norm" that we saw in 2020 has continued for most, if not all of 2021. COVID-19 case counts continue to dictate where oil prices move, and while demand for oil has rebounded from the lows we saw last year, along with oil prices, “Oil production is lagging behind the recovery and demand and that may continue to be the case for the weeks and months ahead.  And ...

After a considerable sell off late last week, that saw oil prices drop to their lowest levels since May, the price of a barrel of oil climbed Monday to roughly $65. Patrick DeHaan with GasBuddy noted the sell off last week was spurred by a one two punch; rising COVID cases and OPEC increasing oil production ...

Oil prices trade lower in Tuesday’s action, with West Texas Crude prices in the mid-$71 per barrel range. Industry experts say a trio of specific pressures are weighing oil prices lower right now. First in the increase in the number of COVID-cases, thanks to the Delta variant concerns many that the global economy will stall in the coming months. I ... Read More ...

Oil prices were largely unchanged as the final week of July got underway. West Texas Crude traded near or just below $72 per barrel in Monday’s trade. Patrick DeHaan with GasBuddy noted oil prices have held steady over the past two week not only because of a rapid increase in the number of COVID Delta Variant cases across the country, but also OPEC’s recent decision to increase production. DeHa