COVID-19 Response
Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies. Download PDF Reader.

OPEC reassured that global demand is strong and its production cuts were beginning to balance oil markets

January 15, 2019
Recap: Oil prices fell on Monday as China reported declines in both imports and exports during the month of December, fueling concern about slowing demand. Prices fell despite OPEC reassuring that global demand is strong and its production cuts were beginning to balance oil marke ... Read More
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The price of oil is being affected by the OPEC lead output cuts, trade wars between the U.S. and China and the health of China’s economy

January 14, 2019
Recap: Oil prices finished lower on Friday, ending the longest streak of gains for WTI in 9 years and the longest streak of gains in 10 years for Brent. Global economic woes weighed on the market amidst non-committal trade talks between the U.S. and China. Prices climbed out of a ... Read More
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Traders grew less confident that the U.S. and China would strike a compromise during trade talks

January 11, 2019
Recap: Oil prices traded on both sides of unchanged Thursday, as traders grew less confident that the U.S. and China would strike a compromise during trade talks and as weak Chinese economic data left investors leery. Prices drifted lower in overnight trading, but by daybreak, th ... Read More
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Oil prices increased for the 8th straight session

January 10, 2019
Recap: Continued optimism over trade talks between the U.S. and China, combined with a larger than expected fall in U.S. crude oil inventories and a drop of 630,000 in OPEC production for the month of December pushed oil prices higher for the 8th straight session. In its initial ... Read More
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Oil prices were supported by hopes of positive trade talks between the U.S. and China

January 9, 2019
Recap: Oil prices continued to rise on Tuesday, supported by hopes of positive trade talks between the U.S. and China. February WTI increased 2.9 percent to $49.95 a barrel, the highest level for a spot contract since December 17. Brent for March delivery climbed 2.5 percent, hit ... Read More
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Sources within OPEC said Saudi Arabia plans to cut crude oil exports

January 8, 2019
Recap: Crude oil prices rose on Monday as hopeful trade talks between China and the U.S. got under way and after sources within OPEC said Saudi Arabia plans to cut crude oil exports by as much as  800,000 barrel s per day from its November levels. Prices peaked in early morning t ... Read More
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Oil prices posted their first weekly gain in four weeks

January 7, 2019
Recap: Oil prices posted their first weekly gain in four weeks as proposed trade talks set for next week between the U.S. and Coil futures WTI rose to their highest level since mid-December, with WTI briefly recapturing the $48.00 level, while Brent touched above $58.00. It appea ... Read More
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Oil prices were pressured by concerns of a weakening global economy

January 4, 2019
Recap: Oil prices traded in a volatile fashion on Thursday, supported by production cuts from within and outside of OPEC, but also pressured by concerns of a weakening global economy. After bottoming out at $45.35 in early morning trading, February WTI clawed its way back to the ... Read More
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Oil prices bounced sharply on Wednesday after trading lower early in the session

January 3, 2019
Recap: Oil prices bounced sharply on Wednesday after trading lower early in the session on rising U.S. and Russian production, a boost in Iraqi exports and concern over an economic slowdown. After hitting a low of $44.36 a barrel, February WTI rose to a session high of $47.78, up ... Read More
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Oil prices experienced their worst annual loss since 2015

January 2, 2019
Recap: After rising to their highest level in 3 years, oil prices experienced their worst annual loss since 2015, with WTI finishing the year down 24.8 percent and Brent falling 19.5 percent on the year. This year’s slide, which began in the fourth quarter, ended a 2 ½ year recov ... Read More
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