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Tag Archives: oil price
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 […]
Crude Down Record 11th Day
Crude Down Record 11th Day Crude is down 22% since the early October high. Comments from Trump negated expectations that OPEC would cut production. Please consider Oil Falls in Longest Losing Streak on Record. Oil prices notched their longest losing streak on record Monday, as comments from President Trump negated expectations that the global oil […]
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 […]
Oil Prices Hit Multi-Month Lows
Oil Prices Hit Multi-Month Lows Oil prices fell to multi-month lows at the end of the week, as a confluence of factors all point in a bearish direction. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) …click on the above link to […]
Oil Slumps Below $60 To 8-Month Lows – Set For Record Losing Streak
Oil Slumps Below $60 To 8-Month Lows – Set For Record Losing Streak WTI Crude is trading back below $60 for the first time since March (and Brent below $70) as Washington’s decision to allow eight countries to continue importing from Iran, which it slapped with sanctions earlier this week; as well as pledges by Saudi Arabia […]
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 […]
Iran’s Powerful Hardline Cleric Threatens To “Instantly” Create $400 Oil By Seizing Tankers
Iran’s Powerful Hardline Cleric Threatens To “Instantly” Create $400 Oil By Seizing Tankers Just ahead of U.S. sanctions on Iran set to snap back on Monday targeting primarily the energy, shipbuilding, shipping, and banking sectors, Iran’s most prominent conservative cleric has announced that if oil exports are halted, Saudi tankers will be confiscated and Gulf countries […]
Oil Prices Plunge As Storm Clouds Gather Over Global Economy
Oil Prices Plunge As Storm Clouds Gather Over Global Economy Oil declined more than 3% on Thursday, and extended those losses Friday, with ICE West Texas Intermediate (WTI) Light Sweet Crude Oil Futures probing lows not seen since April, due to weakening global demand at a time when the output from the Organization of the […]
Big Oil Walking A Tightrope As Prices Rise
Big Oil Walking A Tightrope As Prices Rise Supermajors have had a great year so far, and their third-quarter results, to be released over the next couple of weeks, are likely to strengthen this impression. But this does not necessarily mean that investors will reward them. Investors have become a lot more careful in the […]
BP CEO: $80 Oil Is Unhealthy For The World
BP CEO: $80 Oil Is Unhealthy For The World Oil prices at $80 a barrel are too high and unhealthy for the world today, Bob Dudley, the chief executive of UK supermajor BP, said on the sidelines of an event on Friday. “There’s a healthy price for oil and energy and I believe that balances […]
Opinion: Powell has lost his North Star, and the Fed is flying blind
Opinion: Powell has lost his North Star, and the Fed is flying blind The Fed risks raising interest rates too much as the compass spins wildly STAN HONDA/AFP/Getty ImagesStars appear to rotate around Polaris, the North Star, in this time exposure of the Kitt Peak National Observatory near Tucson, Ariz. Federal Reserve Chairman Jerome Powell […]
Saudi Blowback Wipes Billions From Softbank Shares
Saudi Blowback Wipes Billions From Softbank Shares Refusing to be cowed by a flurry of cancellations that have effectively gutted Riyadh’s Future Investment Initiative – colloquially known as “Davos in the Desert” – Saudi Arabia has lashed out at the US and its Western allies, warning that there will be hell to pay if anybody […]
Sydney playing risky and costly metropoly games amid oil price fears (part 1)
Sydney playing risky and costly metropoly games amid oil price fears (part 1) Sydney must be the only city in the world which closes its most modern heavy rail tunnel, 12.5 kms, designed for its ubiquitous double deckers and used by long distance commuters for an unacceptable long period of 7 months, only to be […]
