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Energy market madness is the death spasm of the oil age – renewables now!
Energy market madness is the death spasm of the oil age – renewables now! Current oil price volatility is a symptom of the end of cheap oil, writes Nafeez Ahmed, and it’s destablising the entire global economy. The answer is a major shift to renewables – but the the International Energy Agency, which should be […]
Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down
Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down Oil resumed its decline after the biggest gain since June 2012 as U.S. crude production increased, adding to signs that the global supply glut that has pushed prices to a 5 1/2-year low will persist. West Texas Intermediate futures dropped as much as 2.7 […]
Oil prices down again as UAE defends holding production
Oil prices down again as UAE defends holding production (Reuters) – Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group’s decision not to cut output to tackle a glut in the market. Oil prices have fallen 60 percent from their […]
The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming
The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming “There are too many ugly balance sheets,” warns one energy industry analyst, adding simply that “the group is not positioned for this downturn.” While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various ‘statistics’ about how the down-side of low […]
OPEC December Crude Output Slips as Global Prices Tumble – Bloomberg
OPEC December Crude Output Slips as Global Prices Tumble – Bloomberg. Oil production by the 12 OPEC nations slipped less than 1 percent in December, the first month after the group refused to cut output as crude prices tumbled, a Bloomberg survey showed. Output by the Organization of Petroleum Exporting Countries fell 122,000 barrels a day, or […]
U.S. Easing of Oil Exports Challenges OPEC’s Strategy – Bloomberg
U.S. Easing of Oil Exports Challenges OPEC’s Strategy – Bloomberg. The Obama administration’s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart Saudi Arabia’s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc. A type of crude known as condensate can be exported if it […]
Oil’s wild ride in 2014 signals return to volatility – Business – CBC News
Oil’s wild ride in 2014 signals return to volatility – Business – CBC News. After five years in which oil traded in a narrow band around the $100 US a barrel mark, crude markets returned to volatility this fall. Back in late June of this year, oil was trading at $107 US a barrel. At […]
Exclusive: U.S. agency gives quiet nod to light oil exports – sources | Reuters
Exclusive: U.S. agency gives quiet nod to light oil exports – sources | Reuters. (Reuters) – The main U.S. export authority is telling some oil companies that they should consider exporting a lightly processed form of crude oil called condensate without formal permission, according to people familiar with the discussions. In conversations that may help clear the way […]
Low Oil Prices And Money Worries For 2015
Low Oil Prices And Money Worries For 2015. In response to the Ruble’s recent fall (over 50% against the U.S. Dollar), Swiss banks have begun taking extreme and extraordinary measures in what appear to be early signs of a currency war. There is now a negative interest rate of 0.25% on deposits made in Swiss Francs. […]
Resource Insights: How the U.S. could fight OPEC and win (and why it won’t)
Resource Insights: How the U.S. could fight OPEC and win (and why it won’t). OPEC has declared war on American oil production with the intention of making the country more dependent on imported oil and on oil in general. By refusing to cut production in the face of weakening world demand, the cartel has allowed oil […]
EXCLUSIVE-October oil shale permits drop: is the slowdown here?
EXCLUSIVE-October oil shale permits drop: is the slowdown here?. NEW YORK, Dec 1 (Reuters) – U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. But new data suggests that the much-anticipated slowdown in shale country may have finally arrived. Permits […]
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge. Who could have seen this coming? With oil prices holding at 4-year lows, heavily pressuring around half of US shale production economics, the “secret” US deal (see hereand here) with Saudi Arabia to crush Russia via oil over-supply […]
Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil | Zero Hedge
Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil | Zero Hedge. With the US Shale Oil industry up in arms, Venezuela screaming, and Russia awkwardly quiet (as the Ruble slides with the falling oil price stabilizing domestic inflows), the ‘secret’ Saudi-US oil dealthat pressured prices for crude down to $80 (18-month lows today) has ‘hurt’ a […]
