Oil price promises more May madness
After April’s unprecedented negative futures contract pricing, there is every chance of more volatility to come
The oil price captured the public imagination considerably more than usual in April when the expiring front-month WTI futures contract plunged to not far shy of $40/bl into negative territory. Social media commentators became instant crude market experts, while analysts with genuine expertise saw heightened demand for their services as talking heads. May has the potential to be no less volatile, with a feasible prospect of another dip into minus numbers. So, eschewing the Twitter and Facebook pundits, Petroleum Economist sought instead the views of several respected commentators on what the month may bring. To, start, though, a cautionary disclaimer. “Oil price prediction has been something
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
