Home » Posts tagged 'opec' (Page 33)
Tag Archives: opec
Oil Drops Below $45; U.S. Stockpiles May Speed Collapse
Oil Drops Below $45; U.S. Stockpiles May Speed Collapse Oil extended losses to trade below $45 a barrel amid speculation that U.S. crude stockpiles will increase, exacerbating a global supply glut that’s driven prices to the lowest in more than 5 1/2 years. Futures fell as much as 4.1 percent in New York, declining for a […]
Oil prices down again as UAE defends holding production
Oil prices down again as UAE defends holding production (Reuters) – Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group’s decision not to cut output to tackle a glut in the market. Oil prices have fallen 60 percent from their […]
Oil Falls as Goldman Cuts Outlook While Venezuela Seeks Recovery
Oil Falls as Goldman Cuts Outlook While Venezuela Seeks Recovery Oil fell to the lowest level in more than 5 1/2 years as Goldman Sachs Group Inc. reduced its price forecasts andVenezuela called on OPEC producers to work together to spur a recovery. Futures slid as much as 3.3 percent in London after a seventh weekly […]
Oil Producers Betting on Price Drop With OPEC Not Curbing Output
Oil Producers Betting on Price Drop With OPEC Not Curbing Output The oil industry was listening as OPEC talked down crude prices to a more than five-year low. Drillers, refiners and other merchants increasedbets on lower prices to the most in three years in the week ended Jan. 6, government data show. Producers idled the most […]
Venezuela, Iran Leaders Join to ‘Neutralize Schemes Against OPEC and Stabilize Oil Price’
Venezuela, Iran Leaders Join to ‘Neutralize Schemes Against OPEC and Stabilize Oil Price’ TEHRAN, Iran—Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon. With Venezuelan President Nicolas Maduro by his side, Iranian President Hassan Rouhani urged OPEC members to […]
Oil heads for seventh weekly loss as supply glut drags
Oil heads for seventh weekly loss as supply glut drags (Reuters) – Oil prices headed for a seventh straight weekly loss on Friday, with key producers showing no sign of cutting output in the face of a global supply glut. Global oil benchmarks hit their lowest since 2009 this week and are down more than […]
Saudi War On Shale Goes Nuclear – “No Chance OPEC Will Cut Output” Even With Brent Under $50
Saudi War On Shale Goes Nuclear – “No Chance OPEC Will Cut Output” Even With Brent Under $50 For those hoping that the recent brief dip in Brent crude below $50 – most notably Venezuela’s intrepid socialist leader Nicolas Maduro whose numbered days get shorter with every day Brent closes red, and countless bondholders of junk- […]
Crude oil falls to lowest price in five years
Crude oil falls to lowest price in five years Crude oil prices have fallen below $50 per barrel for the first time since 2009, hit by OPEC’s production stance, oversupply, weak demand and the strong dollar. European Brent oil dived to $49.81 a barrel on Wednesday, a 5-year-low. New York crude had already slumped under […]
Euro plummets as global oil prices collapse
Euro plummets as global oil prices collapse The euro has plunged to a nine-year low against the dollar on worries that a victory in Greece by the far-left Syriza party in the January 25 election will result in the country’s departure from the European Union. The EU currency’s value, which dived on Monday to $1.1864, a […]
A Stick in the Stocking: Santa’s Supply Shock
A Stick in the Stocking: Santa’s Supply Shock It’s déjà vu all over again: another oil “supply shock.” Seems like we’ve had one every few weeks for the past few months. Santa stuck another one in the Christmas stocking, and by New Year’s Eve crude oil prices fell to Great Recession levels. Frankly, though, an oil […]
The Real Cause Of Low Oil Prices: Interview With Arthur Berman
The Real Cause Of Low Oil Prices: Interview With Arthur Berman With all the conspiracy theories surrounding OPEC’s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. […]
“Now There’s Not Even Soap” Maduro Heads To China To ‘Save’ Socialist Utopia Venezuela | Zero Hedge
“Now There’s Not Even Soap” Maduro Heads To China To ‘Save’ Socialist Utopia Venezuela | Zero Hedge. Social media is awash with striking images of #EmptyShelvesInVenezuela (#AnaquelesVaciosEnVenezuela) as the evaporation of basic human staples such as toilet paper has now been hyperinflated to total chaos at warehouses and supermarkets. As President Maduro decries the loss of […]
Oil Extends Decline From 5 1/2-Year Low as Supply Glut Lingers – Bloomberg
Oil Extends Decline From 5 1/2-Year Low as Supply Glut Lingers – Bloomberg. Oil fell for a third day, extending its decline from the lowest level in five and a half years amid signs a global supply glut that’s driven crude into a bear market may continue this year. Futures in London dropped as much as 1.3 percent, after […]
Oil, Power and Psychopaths – The Automatic Earth
Oil, Power and Psychopaths – The Automatic Earth. Iran has a – very – long running dispute with the US about its nuclear technology. The US wants Assad (Bashar Al-Assad) out of Syria, while Iran and Russia support Assad (Russia’s sole proper base in the Middle East), who’s an Alawite (a Shi-ite branch), a people […]
Canada Gas Price Lows Could Lead To $12 Billion In Savings: Report
Canada Gas Price Lows Could Lead To $12 Billion In Savings: Report. Slumping oil prices could save Canadians as much as $12 billion at the gas pumps this year. But the lower cost is also very bad news for federal and provincial governments, which may have to cut spending in response to falling oil prices. […]
