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Tag Archives: oil price
Oil Price Pain: Who’s Next After Emerging Markets And Fracking?
Oil Price Pain: Who’s Next After Emerging Markets And Fracking?. The price of oil has sunk almost 50% since June with West Texas Intermediate crude slipping below $60 a barrel last week and Brent falling below the same level on Tuesday. “Yippee!” I hear you say, “cheap gas and a drop in inflation!” Well, yes […]
Oil resumes slide after brief rebound on short-covering | Reuters
Oil resumes slide after brief rebound on short-covering | Reuters. (Reuters) – Global crude prices fell again on Thursday, a day after a short-covering rally, as traders placed new bets that the market would resume a six-month rout on worries about a supply glut. Benchmark Brent and U.S. crude each fell more than $1 a barrel to session […]
Saudi Arabia Says Hard for OPEC to Give Up Oil-Market Share – Bloomberg
Saudi Arabia Says Hard for OPEC to Give Up Oil-Market Share – Bloomberg. Saudi Arabia and OPEC would find it “difficult, if not impossible” to give up market share by cutting crude production, the country’s oil minister said. Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil […]
Oil jumps 3 percent to $63 as energy firms slash investments | Business | Reuters
Oil jumps 3 percent to $63 as energy firms slash investments | Business | Reuters. LONDON (Reuters) – Brent crude jumped 3 percent to above $63 a barrel on Thursday, extending a rebound from five-year lows this week as oil’s six-month price rout forced more energy firms to cut investments in new production. Oil this week […]
Oil Prices as an Indicator of Global Economic Conditions
Oil Prices as an Indicator of Global Economic Conditions. West Texas Intermediate sold for $105 a barrel at the start of July, but ended last week at $58. The most important factor has been surging U.S. production. But another reason oil prices have slid so much is weakness in demand for the product, which may be […]
Oil Price Scenarios for 2015 and 2016 – The Automatic Earth
Oil Price Scenarios for 2015 and 2016 – The Automatic Earth. A couple of weeks ago I had a post titled The 2014 Oil Price Crash Explained that was cross posted to over 20 other blogs including The Automatic Earth and Zero Hedge. In this post I use the empirical supply and demand dynamic described in that earlier post (Figure […]
Resource Insights: The high cost of low-priced oil
Resource Insights: The high cost of low-priced oil. As a consumer of oil, you may regard recent sharp declines in the world oil price as a blessing. But… If you work in the oil industry, you will not. If you work in the renewable energy industry, you will not. If you work in the energy […]
Oil Jumps Most in Two Weeks as Fighting, Strike Curb OPEC Output – Bloomberg
Oil Jumps Most in Two Weeks as Fighting, Strike Curb OPEC Output – Bloomberg. Crude oil jumped the most in two weeks on signs output may contract from two nations accounting for about 9 percent of OPEC production. Prices remain near a five-year low, and the United Arab Emirates said the 12-nation group won’t rein […]
The Aftermath Of The Great 2014 Oil Crash “A Textbook Macroeconomic Shock” | Zero Hedge
The Aftermath Of The Great 2014 Oil Crash “A Textbook Macroeconomic Shock” | Zero Hedge. Not a day passes without pundits on either side of the debate, eager to make their case that the acute, nearly 50% plunge in the price of crude, swear up and down their preferred economic ideology of choice that said […]
U.A.E. Says OPEC Won’t Change Output Even If Price Drops to $40 – Bloomberg
U.A.E. Says OPEC Won’t Change Output Even If Price Drops to $40 – Bloomberg. OPEC will stand by its decision not to cut crude output even if oil prices fall as low as $40 a barrel and will wait at least three months before considering an emergency meeting, the United Arab Emirates’ energy minister said. […]
How Countries Around The World Are Coping With Falling Oil Prices
How Countries Around The World Are Coping With Falling Oil Prices. On Friday, the price of benchmark crude oil dropped to new five-year lows. The price of oil has been plummeting for months, leaving oil-producing nations around the world aghast at their sinking revenues. Poor global economic growth has cut demand, while the U.S. is producing oil faster than […]
OPEC chief says no target price, but oil slide beyond fundamentals | Reuters
OPEC chief says no target price, but oil slide beyond fundamentals | Reuters. (Reuters) – The head of OPEC said on Sunday the group had no target price for oil, signaling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets. Speaking […]
IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months – Bloomberg
IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months – Bloomberg. Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger, theInternational Energy Agency said. Consumption will expand by 230,000 barrels a day less than estimated in November, the Paris-based adviser to 29 nations […]
Oil Price Drop Expected To Surface At Provincial-Federal Finance Ministers’ Meeting
Oil Price Drop Expected To Surface At Provincial-Federal Finance Ministers’ Meeting. The topic of sliding oil prices is expected to surface this weekend when provincial finance ministers from across Canada have their first face-to-face meeting with federal counterpart Joe Oliver. Saskatchewan Finance Minister Ken Krawetz said the federal-provincial gathering begins Sunday with an informal get-together […]
U.S. Getting Rid of Oil Addiction as Price Plummets in Glut – Bloomberg
U.S. Getting Rid of Oil Addiction as Price Plummets in Glut – Bloomberg. The U.S. is producing the most oil in 31 years, economic growth is picking up and crude prices are plunging. So why is Americans’ use of petroleum waning? As the U.S. moves closer and closer to energy independence, greaterfuel efficiency, changing demographics […]
