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Tag Archives: oil price
And On The Seventh Day God Shorted His People – The Automatic Earth
And On The Seventh Day God Shorted His People – The Automatic Earth. And on the Seventh Day, God sold his shares? What do you think, is He short the market? Short oil? Oil does look up a tad, but then the dollar lost about a percent vs the euro, so that definitely feels like […]
Bank of America sees $50 oil as Opec dies – Telegraph
Bank of America sees $50 oil as Opec dies – Telegraph. The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned. Revolutionary changes sweeping the world’s energy industry […]
WTI Crude Crashes To $60 Handle As Saudis Shun Cuts | Zero Hedge
WTI Crude Crashes To $60 Handle As Saudis Shun Cuts | Zero Hedge. Brent Crude crossed below $65 for the first time since 2009 this morning and WTI began to slide as inventories showed a bigger-than-expected build. But it was Saudi Arabia’s oil minister al-Naimi who sparked the latest dump: *NAIMI SAYS `WHY SHOULD I […]
As Oil Prices Plunge, Nigeria Exclaims It Is Not Zimbabwe | Zero Hedge
As Oil Prices Plunge, Nigeria Exclaims It Is Not Zimbabwe | Zero Hedge. Having already raised rates and devalued the Naira (and widened its trading bands), theNigerian currency continues to collapse to new record lows as crude crashes lower and lower. Having tumbled 11.5% since oil prices peaked, the Naira is holdinga round 184/USD – over 9% […]
Ten Reasons Why a Severe Drop in Oil Prices is a Problem | Our Finite World
Ten Reasons Why a Severe Drop in Oil Prices is a Problem | Our Finite World. Not long ago, I wrote Ten Reasons Why High Oil Prices are a Problem. If high oil prices can be a problem, how can low oil prices also be a problem? In particular, how can the steep drop in oil […]
Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge
Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge. The crude carnage continued overnight with oil prices across the entire complex crashing through support to new cycle lows. Despite recent strategic reservce demand in China, the world’s oil glut continues as global growth expectations plunge leaving WTI trading as low […]
Norway’s Oil Decline Accelerating
Norway’s Oil Decline Accelerating. New oil projects are being scrapped in Norway amid falling production and low oil prices. Long held up as the model for managing oil abundance, Norway has painstakingly sought to prevent the problems that occur with other natural resource-based economies, such as corruption, slow economic growth, currency appreciation, and subsequently, deindustrialization. […]
Oil Slumps to Five-Year Low as OPEC Decision Spurs Forecast Cuts – Bloomberg
Oil Slumps to Five-Year Low as OPEC Decision Spurs Forecast Cuts – Bloomberg. Brent crude slumped to a new five-year low as OPEC’s decision last month to maintain output at a time of oversupply prompted a growing number of banks to cut price forecasts. West Texas Intermediate also slumped. Futures dropped as much as 2.5 percent in London […]
Saudis Cut Oil Prices Again In Bid To Maintain Market Share
Saudis Cut Oil Prices Again In Bid To Maintain Market Share. Saudi Arabia may have led the move to keep OPEC’s crude production high and thereby keep prices low, but that doesn’t mean it isn’t concerned about keeping its share of the global oil market. Riyadh evidently demonstrated that on Dec. 4 when it dramatically cut […]
Why a Moscow meltdown could spread around the globe | World news | The Observer
Why a Moscow meltdown could spread around the globe | World news | The Observer. Russia matters. It mattered in 1998 when the shock waves from its debt default reverberated around the world. And it would matter again should the plunging oil price lead to economic collapse. That’s despite the fact that Russia is a […]
We Forget All Too Fast Just How Quickly It Can Hit The Fan | Zero Hedge
We Forget All Too Fast Just How Quickly It Can Hit The Fan | Zero Hedge. Via Mark St.Cyr, Currently there is probably no other great divide in opinions than the current state of oil and all it entails. (well maybe gold but that’s for another column) I believe there’s not only two sides to […]
Canadian Banks’ Revenue Threatened By Falling Oil Prices
Canadian Banks’ Revenue Threatened By Falling Oil Prices. TORONTO – Oil prices that reached a five-year low on Friday are starting to take a bite out of profits at TD Bank (TSX:TD) and raising concerns for the rest of the country’s top lenders. Canada’s biggest banks earn up to 20 per cent of their revenues […]
Is The Canadian LNG Export Dream Dead?
Is The Canadian LNG Export Dream Dead?. Lower oil prices have killed off major plans for liquefied natural gas exports from Canada’s west coast. On December 2 the state-owned oil company of Malaysia, Petronas, decided to shelve plans to build an enormous LNG export terminal in British Columbia, citing the falling price of oil. It is common […]
The downside of oil independence | Jeff Rubin
The downside of oil independence | Jeff Rubin. What a difference a couple decades can make. OPEC’s decision to maintain production has rocked the TSX, sending energy companies as well as governments scrambling to figure out what to do in a new world order where oil prices might continue to slide. Rewind to the energy […]
Jobs, Shale, Debt and Minsky – The Automatic Earth
Jobs, Shale, Debt and Minsky – The Automatic Earth. OK, I don’t see a whole lot of comprehension out there, so let’s try and link the obvious: employment to shale to plummeting oil prices to the debt the shale industry was built on (and which is vanishing). I know, people look at the US jobs […]
