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British Oil Industry On The Verge Of “Collapse”
British Oil Industry On The Verge Of “Collapse”. The United Kingdom’s oil industry is taking a beating from low oil prices, so much so that it is “close to collapse.” That comes from the head of the Association of UK Independent Oil and Gas Exploration Companies, otherwise known as Brindex. Robin Allan, the chairman of […]
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 […]
Gulf OPEC members refuse to cut oil output – Middle East – Al Jazeera English
Gulf OPEC members refuse to cut oil output – Middle East – Al Jazeera English. Arab Gulf countries have vowed they will not cut oil production or hold an emergency meeting, despite a glut in global supplies and plummeting oil prices. Powerful OPEC members Saudi Arabia and Kuwait said on Sunday they would not cut […]
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 […]
Saudi Oil Minister Denies ‘Conspiracy’ To Collapse Oil Prices
Saudi Oil Minister Denies ‘Conspiracy’ To Collapse Oil Prices. ABU DHABI, United Arab Emirates – Saudi Arabia’s oil chief on Sunday dismissed allegations that his kingdom conspired to bring down oil prices in order to harm other countries and told a summit of Arab energy leaders that he was confident the market would stabilize. The […]
Drilling Our Way Into Oblivion – The Automatic Earth
Drilling Our Way Into Oblivion – The Automatic Earth. Oh, that sweet black gold won’t leave us alone, will it? West Texas Intermediate went through some speedbumps Friday, but ended over +5%, though still only at $57. Think them buyers know something we don’t? I don’t either. I see people covering lousy bets. And PPT […]
“Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns | Zero Hedge
“Houston, You Have A Problem” – Texas Is Headed For A Recession Due To Oil Crash, JPM Warns | Zero Hedge. It was back in August 2013, when there was nothing but clear skies ahead of the US shale industry that we asked “How Much Is Oil Supporting U.S. Employment Gains?” The answer we gave: […]
Saudi Arabia Refuses To Cut Oil Output Even If Non-OPEC Members Do | Zero Hedge
Saudi Arabia Refuses To Cut Oil Output Even If Non-OPEC Members Do | Zero Hedge. As even Reuters observes this morning when discussing the ongoing crude rout, “the market slide has triggered conspiracy theories, ranging from the Saudis seeking to curb the U.S. oil boom, to Riyadh looking to undermine Iran and Russia for their support of Syria.” […]
The Oil Price Crash of 2014 Post Carbon Institute
The Oil Price Crash of 2014 Post Carbon Institute. Oil prices have fallen by half since late June. This is a significant development for the oil industry and for the global economy, though no one knows exactly how either the industry or the economy will respond in the long run. Since it’s almost the end […]
Saudi Arabia Confident in Oil Rebounding on Global Growth – Bloomberg
Saudi Arabia Confident in Oil Rebounding on Global Growth – Bloomberg. Saudi Arabia, the world’s largest oil exporter, is confident that crude prices will rebound with global economic growth boosting demand. Prices will recover from a slump due to a glut created by a lack of cooperation from producers outside the Organization of Petroleum Exporting […]
Average gasoline price dips to 99 cents and falling – Business – CBC News
Average gasoline price dips to 99 cents and falling – Business – CBC News. For the first time in 4½ years the average cost of gasoline in Canada has dropped below $1 a litre. The actual prices vary by market, from $1.05 in Vancouver to 76.9 cents in Edmonton to 98.9 cents in St. John’s, […]
The reason oil could drop as low as $20 per barrel
The reason oil could drop as low as $20 per barrel. How low can it go — and how long will it last? The 50 percent slump in oil prices raises both those questions and while nobody can confidently answer the first question (I will try to in a moment), the second is pretty easy. […]
Exxon Mobil Shows Why U.S. Oil Output Rises as Prices Plunge – Bloomberg
Exxon Mobil Shows Why U.S. Oil Output Rises as Prices Plunge – Bloomberg. Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction. U.S. energy producers plan to pump more crude in 2015 as declining equipment […]
Guest Post: Calculating The Breakeven Price For The Median Bakken Shale Well | Zero Hedge
Guest Post: Calculating The Breakeven Price For The Median Bakken Shale Well | Zero Hedge. A lot of data has been thrown around recently concerning the Bakken shale wells of North Dakota in an attempt to figure out the necessary oil price required to break even on the investment. In order to get a clearer […]
Nigeria, Belarus Halt All FX Trading As Central Bank Urges “Don’t Panic” | Zero Hedge
Nigeria, Belarus Halt All FX Trading As Central Bank Urges “Don’t Panic” | Zero Hedge. Just because Russia has managed to stabilize its currency for the time being as crude tries to find a floor, that certainly does not mean the soaring dollar tantrum-cum-crude crash episode is anywhere near over, nor that stability has returned to the […]
