At the rate, the rand is weakening, and with a stronger oil price, we could see R20 petrol by end of 2018.
At least that's what some economists are saying.
But if it happens, it won't be due to the oil price.
In fact, I foresee that the oil price is in for a dip soon…
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Get started with as little as R500 a month
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WTI Crude oil hit a low of $22 a barrel in early 2016. It then rose for much of the year, ending the year at $53.
But since the start of 2017, the oil price is down around 12% to $46.60.
So, with the oil price at lows, should you look at investing in the oil sector again?
Is demand growing fast enough or is supply still too high?
Get everyt... ››› more
The most traded commodity in the world is also the most disappointing commodity in the world.
The oil industry has taken off to new heights. And by new heights I'm certainly NOT talking about revenue or prices.
I'm talking about the ridiculous increase in oil production per day.
Back in 1980, we had around 59 million barrels of oil produced per day. This year we have over 85 million barrels... ››› more
This month, the price of Brent crude and West Texas Intermediate have been on a downwards slope.
So why is the oil price under pressure again?
Let's take a closer look at what's going on…
An increase in US stockpiles hit the oil price
Yesterday, the US government revealed that it had increased its “crude stockpiles,” says Fin24. This led to worries about a “global supply glu... ››› more
In June last year, the oil price started its descent. By January, the oil price had lost over 50% of its value.
Since the middle of January, the price has picked up. But yet again it's been under pressure.
And today, oil fell close to $55 a barrel.
So what's going on with the price of oil?
Let's take a closer look…
Comments made by Saudi Arabia’s oil minister sends the oil p... ››› more
Friday saw another 3% drop in the price of Brent crude oil. This takes the price down to a five-year low.
Yesterday, the secretary general of OPEC (the Organisation of Oil Exporting Countries) said they have no plans to cut production to support the oil price.
Let's take a closer look at what's going on…
Friday saw 3% wiped off the oil price
The oil price “fell 3% to plumb new f... ››› more
Since the mid-1970s, the Organization of the Petroleum Exporting Countries (OPEC) has controlled the price of oil... Cutting production when it got too low and opening up the floodgates when the price got too high.
That's what the world expects OPEC to do. That's what OPEC has always done.
But for once OPEC is defying all logic…
OPEC's seemingly illogical move will send the oil price... ››› more
Yesterday, the Organisation of Petroleum Exporting Countries (OPEC) met in Vienna.
On the agenda was how to respond to an ebbing oil price. If the organisation decided to cut production, it could help deal with the current oversupply, which is contributing towards a low oil price.
But OPEC decided against a cut in production. The oil price fell hard on the news.
Let's take a closer look ... ››› more
It was with shock that I learnt about the nuclear deal the South African government signed with Russia. Who would want a nuclear reactor designed by the people that proudly brought Chernobyl to the world?
But by the looks of things our government is considering getting into bed with Russia in a big way.
You see, the Russian government wants to set up an OPEC style cartel - but for platinum a... ››› more
Over the past week, Bloomberg reported that militants connected to al-Qaeda extremists have been attacking in Iraq again.
The group already seized Mosul which forced a halt to repairs on the main oil pipeline from the Kirkuk oil fields to the Mediterranean. And now they're moving south.
Now, no one wants to see violent attacks anywhere in the world. But as a trader you need to know how to re... ››› more
OPEC, the Organisation of Petroleum Exporting Countries, is set to meet in Vienna tomorrow to discuss oil policies. But world powers aren't concerned. They believe OPEC's lost its power as the US shale gas boom is keeping prices down. Here's why…
While OPEC meetings have been “unpredictable and quarrelsome in the past”, oil traders shouldn’t worry about tomorrow’s OPEC meeting,... ››› more
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