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22 hours ago | 
financialpost.com | Grant Smith |Fiona MacDonald |Nariman Gizitdinov
Oil markets have been jittery since early April, when the producers’ group led by Saudi Arabia stunned traders by accelerating the revival in its output. This was an apparent effort to discipline over-producing members by driving down prices, yet Kazakhstan — the greatest offender — has continued to pump as usual at its biggest fields. Get the latest headlines, breaking news and columns. • There was an error, please provide a valid email address. A welcome email is on its way.
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22 hours ago | 
bloomberg.com | Grant Smith |Fiona MacDonald |Nariman Gizitdinov
A pumpjack at an oilfield in Kazakhstan. (Bloomberg) -- OPEC+’s audacious bid to punish its oil-quota cheats prompted a renewed plunge in crude on Wednesday, as growing tensions with Kazakhstan stoked fears of an escalating price war. Oil markets have been jittery since early April, when the producers’ group led by Saudi Arabia stunned traders by accelerating the revival in its output.
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1 week ago | 
bloomberg.com | Alex Longley |Grant Smith |Julian Lee
Oil analysts have raced to slash their forecasts for demand and prices in recent weeks amid the tariff turmoil, highlighting the threat that President Donald Trump’s trade war poses to the global economy. Banks, consultants and agencies have so far cut expectations for consumption this year by 320,000 barrels a day, according to the average of 12 estimates compiled by Bloomberg.
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2 weeks ago | 
bloomberg.com | Grant Smith |Nariman Gizitdinov
A pumpjack at an oilfield in Kazakhstan. (Bloomberg) -- Saudi Arabia’s oil supply shock has set up a standoff with OPEC+ members who keep busting their quotas, but the biggest of the offenders has yet to flinch. Kazakhstan — whose persistent flouting of production limits triggered Riyadh’s ire — continues to pump as usual at the biggest oil fields run by its international oil partners, according to people familiar with the matter. The Tengizchevroil joint venture that includes Chevron Corp.
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2 weeks ago | 
financialpost.com | Alex Longley |Grant Smith
Article contentOil plunged to a four-year low as an intensifying trade war endangered energy demand, with a fresh wave of United States and Chinese levies menacing the global economy. Sign In or Create an AccountArticle contentWe apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team.
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2 weeks ago | 
financialpost.com | Grant Smith |James Attwood |Shoko Oda
(Bloomberg) — After a brutal few trading sessions for commodity markets, the global impact from US President Donald Trump’s will continue to be top of mind for traders this week. That will be the case as the mining world heads to a premier copper industry gathering this week in Chile. Meanwhile, the levies likely will make coffee more expensive for Americans. And the oil market is confronting a one-two punch of demand concerns and more supplies from OPEC+.
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2 weeks ago | 
bloomberg.com | Grant Smith |James Attwood |Shoko Oda
After a brutal few trading sessions for commodity markets, the global impact from US President Donald Trump’s will continue to be top of mind for traders this week. That will be the case as the mining world heads to a premier copper industry gathering this week in Chile. Meanwhile, the levies likely will make coffee more expensive for Americans. And the oil market is confronting a one-two punch of demand concerns and more supplies from OPEC+.
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2 weeks ago | 
bnnbloomberg.ca | Grant Smith |Nayla Razzouk
Key OPEC+ nations reiterated the need for members to stick to oil output quotas after the group’s surprise decision to speed up an output revival battered crude prices. The Joint Ministerial Monitoring Committee noted that some OPEC+ members failed to fully observe their limits or deliver extra curbs pledged as compensation for over-producing, according to a statement on the group’s website on Saturday. These nations were told to submit compensation plans by April 15.
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2 weeks ago | 
bloomberg.com | Grant Smith |Nayla Razzouk
Key OPEC+ nations reiterated the need for members to stick to oil output quotas after the group’s surprise decision to speed up an output revival battered crude prices. The Joint Ministerial Monitoring Committee noted that some OPEC+ members failed to fully observe their limits or deliver extra curbs pledged as compensation for over-producing, according to a statement on the group’s website on Saturday. These nations were told to submit compensation plans by April 15.
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2 weeks ago | 
financialpost.com | David Wethe |Anna Shiryaevskaya |Grant Smith
Already the oil market is tossing aside expectations for 2025. Goldman Sachs Group Inc., one of Wall Street’s long-standing crude bulls, cut its year-end price forecast on Thursday for Brent crude by $5, to $66 a barrel. Enverus has slashed more than a third from its demand-growth model. UBS Group AG, which at the start of the year forecast global demand would grow by 1.1 million barrels per day, is now cutting that up to nearly 50%.
