21 May 2015
Oil price deadlock with only $4 price band
The narrow range has been in play since April while contradictory views have been pulling and pushing at prices
Oil prices continue to trade within the narrow range that has been in place since late April as contradictory views of an oversupplied versus a tightening market have been pulling and pushing at prices on an almost daily basis. The rises and falls have largely been in a $4 price band, with Brent trading between $64-68 per barrel (b) since 23 April. Brent was pegged at around $65/b as Petroleum Economist went to press, while WTI was hovering at about $59/b. Slowing US light, tight oil supplies pushed WTI 14% higher in April versus March, roughly twice the increase in Brent. In the supposed stand-off between Opec and US light tight oil, US producers appear to have blinked. The relentless rise
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
