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How Much Oil Production Will The Saudis Cut?
How Much Oil Production Will The Saudis Cut? Donald Trump continues to take credit for lowering oil prices. Donald J. Trump ✔@realDonaldTrump So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)! Trump’s […]
Trump And OPEC Face Off Over Production Cuts
Trump And OPEC Face Off Over Production Cuts “Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!” President Trump tweeted a few days ago. Trump is a bit confused on the specific figures – perhaps […]
Oil Crashes To One Year Low, Brent Below $60 As Saudis Pump Record Crude
Oil Crashes To One Year Low, Brent Below $60 As Saudis Pump Record Crude Update: U.S. CRUDE EXTENDS LOSSES, TRADES DOWN MORE THAN $4 A BARREL TO SESSION LOW OF $50.63 A BARREL BRENT FALLS BELOW $60/BBL FOR FIRST TIME SINCE OCT. 2017 * * * The first time oil tumbled two weeks ago when […]
Does The U.S. Really Need Saudi Oil?
Does The U.S. Really Need Saudi Oil? “Saudi Arabia — if we broke with them, I think your oil prices would go through the roof. I’ve kept them down,” President Trump told reporters on Tuesday. “They’ve helped me keep them down. Right now we have low oil prices, or relatively. I’d like to see it […]
IEA Chief Urges Oil Producers Not To Cut Output
IEA Chief Urges Oil Producers Not To Cut Output While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have negative effects on the oil market. “Currently markets are very well supplied but we should not […]
Canadian Oil Producers Divided On Output Cuts
Canadian Oil Producers Divided On Output Cuts Crude oil producers in Alberta appear to be split on a proposed cut in production amid record-low prices, Canadian media report. One of the large Canadian oil producers, Cenovus Energy, is calling upon the government of Alberta to mandate temporary production cuts at all drillers in a bid […]
Bakken Prices Crumble On Pipeline Woes
Bakken Prices Crumble On Pipeline Woes Oil production is growing so quickly in the Bakken that the region is starting to suffer from painful pipeline constraints. U.S. shale is not new to pipeline bottlenecks. The Permian basin has suffered from steep discounts this year, with WTI in Midland trading as much as $20 per barrel […]
Canadian Oil Producer Calls For Production Cap Amid Record Low Prices
Canadian Oil Producer Calls For Production Cap Amid Record Low Prices One of the large Canadian oil producers, Cenovus Energy, is calling upon the government of Alberta to mandate temporary production cuts at all drillers in a bid to ease Canadian bottlenecks that have resulted in Canada’s heavy oil prices tumbling to a record-low discount […]
Oil Rallies On Report OPEC+ Will Do “Whatever It Takes”, May Cut By 1.4MM Barrels
Oil Rallies On Report OPEC+ Will Do “Whatever It Takes”, May Cut By 1.4MM Barrels One day after Saudi Arabia revealed that it had not complied with its production quota in October for the first time since OPEC’s November 2016 meeting in Vienna, Reuters sent oil prices into the green with a report that OPEC […]
Saudis Scramble To Stop Oil Price Slide
Saudis Scramble To Stop Oil Price Slide Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that […]
OPEC+ Floats 1 Million Barrel Production Cut After Oil Price Tumbles Into Bear Market
OPEC+ Floats 1 Million Barrel Production Cut After Oil Price Tumbles Into Bear Market With oil prices entering a bear market last week, tumbling 21% from recent highs as it became clear that Trump will significantly water down Iran oil export sanctions by granting waivers to its 8 largest clients even as US inventory stockpiles […]
Venezuela’s Glaring Gasoline Crisis
Venezuela’s Glaring Gasoline Crisis Iran has dominated the headlines over the last few weeks, but Venezuela’s oil sector continues to meltdown. Venezuela’s oil production fell to just 1.197 million barrels per day in September, down 42,000 bpd from a month earlier. However, because things are moving so quickly, that figure is now woefully out of […]
U.S. Oil Production Is Set To Soar Past 12 Million Bpd
U.S. Oil Production Is Set To Soar Past 12 Million Bpd Rising shale production is putting the United States on track to hit the 12 million bpd oil production mark sooner than previously forecast, the Energy Information Administration (EIA) said in its November Short-Term Energy Outlook (STEO). Next year’s U.S. crude oil output is now […]
WTI Slumps To $61 Handle After US Crude Production Soars To New Record High
WTI Slumps To $61 Handle After US Crude Production Soars To New Record High Despite sliding after last night’s API-reported big Crude and Cushing build, WTI has rebounded overnight amid a post-midterms tumbling dollar, but a larger crude build than expected from DOE, combined with a smaller gasoline draw, could lead to WTI “set to […]
