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Tag Archives: oil price
Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming | Zero Hedge
Venezuelan Bonds Are Collapsing, FinMin Denies Devaluation Looming | Zero Hedge. While talking heads proclaim – incorrectly – that low oil prices are unequivocally good for the US economy, it is very much not the case for oil producers around the world. Most notably, Venezuela – which ‘needs’ oil prices above $100 to maintain its […]
Oil below $80 as slow China chimes with OPEC warning | Reuters
Oil below $80 as slow China chimes with OPEC warning | Reuters. (Reuters) – Oil fell below $80 a barrel for the first time since 2010 on Thursday, as more evidence of a slowdown in China’s resource-hungry economy chimed with OPEC warning of a substantial drop in demand next year. Data from Beijing showed below-forecast factory output […]
Oil Tankers Stream Toward China as Price Drop Sparks Boom – Bloomberg
Oil Tankers Stream Toward China as Price Drop Sparks Boom – Bloomberg. Add oil shippers to the list of winners from this year’s collapse in crude. The price plunge has spurred China, the world’s second-biggest importer after the U.S., to accelerate bookings of oil cargoes. It will also shave almost $20 billion a year in […]
The Detailed US Shale Oil Cost Curve: Where Is The Line In The Sand? | Zero Hedge
The Detailed US Shale Oil Cost Curve: Where Is The Line In The Sand? | Zero Hedge. On an almost daily basis, investors are reassured that a falling oil price is “unequivocally good” for the US economy. The “It’s like a tax cut for the consumer”-meme dominates financial media while the impact on the Shale (or tight) […]
Oil Price Collapse Ricochets Around the World, Hits US Drillers, the Ruble … and Russia’s Probability of Default | Wolf Street
Oil Price Collapse Ricochets Around the World, Hits US Drillers, the Ruble … and Russia’s Probability of Default | Wolf Street. As soon as word spread that Saudi Arabia’s Aramco cut prices, rather than production, for its US customers – though it raised prices for Asian and European customers – the price of WTI swooned […]
Saudi Oil Market Fight Shifting to U.S. as Asia Prices Rise – Bloomberg
Saudi Oil Market Fight Shifting to U.S. as Asia Prices Rise – Bloomberg. Saudi Arabia’s increase in oil prices for Asia signals the world’s biggest crude exporter is shifting the focus of its fight for market share on U.S. buyers. While Saudi Arabian Oil Co. boosteddifferentials for supplies to Asia next month after cutting some November […]
Saudis Go Back to the Future to Take on U.S. Shale Rivals – Bloomberg
Saudis Go Back to the Future to Take on U.S. Shale Rivals – Bloomberg. The Saudi oil minister’s visit to Venezuelathis week is also a trip through time. Flash back to December 1998 whenSaudi Arabia looked to its fellow OPEC member for help lifting oil prices from about $10 a barrel. Back then, the Saudis were defending their dominance […]
Oil: “It’s The Economy, Stupid” | Zero Hedge
Oil: “It’s The Economy, Stupid” | Zero Hedge. The cacophony of various talking heads proclaiming this morning that oil price weakness is not due to weak demand but to over-supply (which are obviously merely different sides to the same coin) was deafening. While he hate to steal the jam from their aggregate donuts, the following chart may […]
Why The Current “Oil Glut” Could Lead To A Price Spike
Why The Current “Oil Glut” Could Lead To A Price Spike. Back in March 1999 “The Economist” magazine carried a cover photo of two men drenched in oil as they attempted to close a faulty valve that was spraying a huge stream of crude skyward. Over the photo was the headline: “Drowning in oil.” At the time […]
Saudi Oil Market Fight Shifting to U.S. as Asia Prices Increased – Bloomberg
Saudi Oil Market Fight Shifting to U.S. as Asia Prices Increased – Bloomberg. Saudi Arabia’s increase in crude prices for Asia signals the world’s biggest oil exporter is focusing its fight for market share on the U.S. While Saudi Arabian Oil Co. boosted differentials for supplies to Asia next month after cutting some November prices to the […]
WTI Tumbles To 29-Month Lows After Saudi Price Cut | Zero Hedge
WTI Tumbles To 29-Month Lows After Saudi Price Cut | Zero Hedge. After initially jerking higher after Saudi Arabia released its new ‘lower-prices-for-the-US’ strategy, it appears the market began to realize that in fact – as we warned – Saudi Arabia may be willing to accept prices “lower for longer.” WTI futures are trading below $78.50 – the […]
WTI Crude Tumbles Under $80 Following Goldman Downgrade | Zero Hedge
WTI Crude Tumbles Under $80 Following Goldman Downgrade | Zero Hedge. While large shifts in positioning precipitated a sell-off in oil prices that far exceeded the actual weakening in fundamentals, Goldman Sachs’ confidence in a 2015 oversupplied global oil market has increased. As a result, they have brought forward their medium-term bearish oil outlook (WTI crude […]
Our Finite World | Exploring how oil limits affect the economy
Our Finite World | Exploring how oil limits affect the economy. A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so that in total producers would provide enough–but not too much–oil for the world economy. The […]
Oil Shocks And The Global Economy
Oil Shocks And The Global Economy. Here I re-tread a well-trodden path, but with recent events in the oil market I thought a brief recap might be timely. I begin with a photographic illustration of a typical US demand response to the tripling of oil prices that occurred during the first “oil shock” in 1974: […]
Peak Oil Notes – Oct 23
Peak Oil Notes – Oct 23. New York oil futures traded around $82 a barrel this week until Wednesday’s stocks report showed an unexpected 7 million barrel jump in US crude stocks. The jump resulted in a nearly $2 decline in the futures market to a close of $80.52 a barrel, the lowest settlement since June of […]
