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Tag Archives: oil price
OPEC Chief Claims Oil Will Rebound Higher Than In 2008
OPEC Chief Claims Oil Will Rebound Higher Than In 2008 OPEC’s secretary-general says the 7-month-old plunge in oil prices finally may have bottomed out and may be ready to rise again. In fact, Abdullah al-Badri hypothesized that a decision by his cartel to cut production conceivably could lead to oil at $200 a barrel. “Now […]
A Solemn Pause|Kunstler
A Solemn Pause|Kunstler Events are moving faster than brains now. Isn’t it marvelous that gasoline at the pump is a buck cheaper than it was a year ago? A lot of short-sighted idiots are celebrating, unaware that the low oil price is destroying the capacity to deliver future oil at any price. The shale oil […]
IEA Provides First Sign That Tide May Be Turning For Oil Prices
IEA Provides First Sign That Tide May Be Turning For Oil Prices Last week, energy investors got the first of several reports that should confirm for Wall Street analysts that the physical markets for crude oil are responding to the sharp drop in oil prices. I believe supply/demand will work back to a balance during […]
Be Prepared For An Oil Price Spike
Be Prepared For An Oil Price Spike The recent collapse in oil prices has taken pundits and oil producers by surprise. It was only six months ago that prices were over $100/bbl and at that time they had been above $100/bbl for three and a half years. In fact the stability had become uncanny, so […]
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 […]
The Confessions Begin: Goldman, BofA Warn Crude Crash Will Have Negative Impact On GDP, Earnings
The Confessions Begin: Goldman, BofA Warn Crude Crash Will Have Negative Impact On GDP, Earnings The plunge in oil prices is unambiguously good for the US economy – Virtually every “pundit” with a business suit, who collected a $200 CNBC appearance in the past 3 months A week ago we showed that, using Gallup polling data, […]
Iraq Could Be Oil Market Linchpin
Iraq Could Be Oil Market Linchpin. As hard as it may be to imagine, given today’s rock bottom oil prices and abundant supplies, the world may still struggle to bring enough oil online over the next few decades to meet long-term demand. Global economic growth over the next several decades is predicated on continued growth […]
Oil rises to $60 per barrel, Libya fire supports | Reuters
Oil rises to $60 per barrel, Libya fire supports | Reuters. (Reuters) – Brent crude oil rose to $60 per barrel on Monday, supported by concerns about disruption to exports from Libya, but a global supply glut kept prices nearly 50 percent off their peak for the year. A fire at one of Libya’s main export terminals has destroyed […]
Peak Oil Review – 25 December 2014
Peak Oil Review – 25 December 2014. Mid-Week Update Oil futures have been volatile this week, swinging $1-2 a barrel on the latest news. New York crude closed Wednesday at $55.84 a barrel and London at $60.24, about where they have been for the last ten days. This week the up swings came from better […]
oftwominds-Charles Hugh Smith: I Call BS on Projections of a Decade of $20/Barrel Oil
oftwominds-Charles Hugh Smith: I Call BS on Projections of a Decade of $20/Barrel Oil. The ability of oil exporters to trigger a short-term collapse in price does not automatically translate into an ability to control the financial conflagration such a crash ignites. My BS detector went off when two stories with similar headlines touting $20/barrel […]
Kazakhstan Prepares For $40 Oil, Gary Schilling Says “Oil Going To $20” | Zero Hedge
Kazakhstan Prepares For $40 Oil, Gary Schilling Says “Oil Going To $20” | Zero Hedge. “People should not be worried,” explained Kazakhstan President Nursultan Nazarbayev in a TV address over the weekend, “we have a plan in place if oil prices are $40 per barrel.” Kazakhstan, the second largest ex-Soviet oil producer after Russia, explains “there are reserves […]
Conrad Black: The Saudis believe the West is about to give in to Iranian demands. Crashing the price of oil is how it fights back | National Post
Conrad Black: The Saudis believe the West is about to give in to Iranian demands. Crashing the price of oil is how it fights back | National Post. Responses to the decline in world oil prices have been mystifying — flummoxing, in fact. The secretary general of OPEC (the Organization of Petroleum Exporting Countries), Abdullah Al-Badri, said […]
oftwominds-Charles Hugh Smith: Maybe Oil Goes to $70 on its Way to $40
oftwominds-Charles Hugh Smith: Maybe Oil Goes to $70 on its Way to $40. A retrace that fills open gaps and kisses the 50-day moving average surprises everyone who was confident oil was heading straight down to $40/barrel. When the conventional media ordains oil inevitably dropping to $40/barrel, I start looking for something else to happen–like […]
A Funny Thing Happened To Oil Prices When Nixon Killed The Gold Standard | Zero Hedge
A Funny Thing Happened To Oil Prices When Nixon Killed The Gold Standard | Zero Hedge. For the past 150 years, crude oil prices have varied between around $10 per barrel and around $120 per barrel. For many decades, oil prices were relatively “stable” but a funny thing happened in the early 70s and everything changed – […]
The Biggest Economic Story Going Into 2015 Is Not Oil – The Automatic Earth
The Biggest Economic Story Going Into 2015 Is Not Oil – The Automatic Earth. Isn’t it fun to just watch the market numbers roll by from time to time as you go about your day, see Europe markets up 3%+, Dubai 13%, US over 2% (biggest two-day rally since 2011!), and you just know oil […]
