Alejandro Barbajosa of Argus Media says the forecast by the Organization of the Petroleum Exporting Countries for 2019 "goes a long way" to explain why Saudi Arabia's oil minister Khalid al-Falih is "so convinced" that the market is well supplied.
Chinese and American tariffs haven't made an impact yet but supply side issues are more of a problem, explains Janet Kong of BP.
Oil markets are tight due to a combination of geopolitical risk and supply-side issues, according to Abhishek Deshpande of J.P. Morgan.
Oil demand is unlikely to be impacted by trade tariffs, unless they spur a wider economic downturn, according to Martin Fraenkel, President at S&P Global Platts.
Oil prices rose 2 percent on Monday as U.S. sanctions restricted Iranian crude exports, tightening global supply, with some traders forecasting a spike in crude to as much as $100 per barrel.
Trump has criticized producer cartel OPEC several times on Twitter over what he claims is the deliberate inflation of oil prices.
Saudi Arabia's oil minister rebuffed President Donald Trump's recent accusations that OPEC is pushing crude prices higher, insisting that supply is robust and OPEC will work to offset geopolitical challenges to the market.
Russia could restore production to "October 2016 levels," Energy Minister Alexander Novak said.
Floodwaters topped a dike at Sutton Lake which led to breaches at the lake's south end, causing it to flow back into the river. Coal ash may have flowed into the Cape Fear River, raising fears of possible contamination.
Trump wants OPEC to raise oil output to tame prices, but top exporter Saudi Arabia will be wary of upsetting its allies with a production hike.
The United States military spends about $81 billion a year to protect oil supplies around the world and keep fossil fuels flowing into American gas stations, according to Securing America's Future Energy.
A Duke Energy dam containing a lake in North Carolina is breached, possibly causing coal ash to flow into the nearby Cape Fear River, the company says.
Operations are set to start in the third quarter of 2019.
Oil prices pared gains on Friday following a report that OPEC and other large crude exporters are considering another output hike.
CNBC's Jackie DeAngelis reports on headlines about a dam breach at a North Carolina Duke Energy plant that is potentially causing coal ash to contaminate the nearby river in the aftermath of Hurricane Florence.
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John LaForge, Wells Fargo Investment Institute, gives his bullish view for commodities as OPEC gets set to meet over the weekend and President Trump tweets about oil prices.
All of Tesla's production vehicles have at some point earned perfect safety scores from Tesla
President Trump tweeted his displeasure over high oil prices this morning. U.S. oil prices took a short-term hit, but rebounded a later in the day.
The president's comments come just a day after WTI crude oil, the U.S. benchmark, climbed back above $70 a barrel. OPEC is set to meet this weekend.