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Tag Archives: oil price collapse
World on drip of unconventional oil
World on drip of unconventional oil. Currently lower oil prices due to a combination of increasing oil supplies and subdued demand come at a high cost to the environment and the climate. Additional oil supplies are exclusively from fracking tight oil in the US and from Canadian tar sands. Fig 1: Production of US tight […]
Big Oil Slashing Spending Amid Low Prices
Big Oil Slashing Spending Amid Low Prices. Oil prices continue to slide in mid-December, slumping towards another key threshold of $60 per barrel. Oil prices hit a five-year low on December 10. While many major oil players have gone to lengths to assure markets that they can weather the price downturn – and indeed it is far […]
The Oil Market Actually Works, And That Hurts – The Automatic Earth
The Oil Market Actually Works, And That Hurts – The Automatic Earth. Please allow me to revert back again a little to what I wrote earlier today in Will Oil Kill The Zombies? I think we need to be clear on what’s going on here. The oil market actually works. And that’s a rarity in today’s world […]
Oil Wars: Why OPEC Will Win
Oil Wars: Why OPEC Will Win. In the green corner we have the US shale producers. In the red corner we have the oil exporting countries of OPEC. Assuming the fight is fought to a conclusion, who wins? OPEC wins. The US shale producers will shut down first. The reasons are: • The US shale […]
Will Oil Kill The Zombies? – The Automatic Earth
Will Oil Kill The Zombies? – The Automatic Earth. Oil producer Russia hikes rates to 10.5% as the ruble continues to plunge, while fellow producer Norway does the opposite, and cuts its rates, but also sees its currency plummet. As Greek stocks lose another 7.35% after Tuesday’s 13% loss on rumors about what the left […]
Gross Says Fed May Become ‘Dovish’ as Oil Prices Plunge – Bloomberg
Gross Says Fed May Become ‘Dovish’ as Oil Prices Plunge – Bloomberg. (Bloomberg) —Bill Gross, who used to run the world’s largest bond fund before joiningJanus Capital Group Inc. (JNS) in September, said the Federal Reserve may become more “dovish” after oil prices plunged in recent weeks. The Federal Reserve would have to take lower oil […]
US Oil Rig Count Tumbles Most In 2 Years | Zero Hedge
US Oil Rig Count Tumbles Most In 2 Years | Zero Hedge. We warned just a week ago that the lag between initial price declines in oil and the closure of rigs was between 4 and 6 months and just as we warned of the deja-vu all over again, Banker Hughes reports that the Rig Count this […]
charles hugh smith-The Financialized-Oil Dominoes Are Toppling
charles hugh smith-The Financialized-Oil Dominoes Are Toppling. The drop in oil revenues has triggered a self-reinforcing feedback dynamic. Oil is not just something that is refined into fuel–it is capital, collateral, debt and risk. In other words, it is intrinsically financial. As I noted in The Oil-Drenched Black Swan, Part 2: The Financialization of Oil, oil has been […]
Canadian Dollar Plunges To 5-Year Low Of 86.69 US
Canadian Dollar Plunges To 5-Year Low Of 86.69 US. The Canadian dollar plunged to 86 cents today in the wake of turmoil in oil and stock markets. The loonie was trading at a 5½-year low of 86.69 cents US. Oil prices seemed to pause in the steep descent they’ve made in the last two weeks. West […]
WTI Crude Crashes Into The $50s | Zero Hedge
WTI Crude Crashes Into The $50s | Zero Hedge. Zee overnight stabilitee (and brief dead-cat-bounce this morning) has turned into a renewed bout of selling pressure and for the first time since July 2009, WTI has broken below the $60 level. Canada Heavy is trading $42.10 (down almst $4 today!), its lowest since April 2009. Energy […]
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 […]
Norway Central Bank, Slammed By Oil Plunge, Warns Of “Severe Downturn”, Unexpectedly Cuts Rates | Zero Hedge
Norway Central Bank, Slammed By Oil Plunge, Warns Of “Severe Downturn”, Unexpectedly Cuts Rates | Zero Hedge. The governor of Norway’s central bank says western Europe’s biggest oil producer is facing a major economic slowdown as crude prices continue to plunge. As Bloomberg reports, Oeystein Olsen said today in an interview after a press conference in Oslo, “our […]
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 […]
Venezuela Default Probability Has Never Been Higher; Maduro “Working To Raise Oil Prices” | Zero Hedge
Venezuela Default Probability Has Never Been Higher; Maduro “Working To Raise Oil Prices” | Zero Hedge. With OPEC slashing demand expectations to 12 year lows, oil prices have re-cratered today putting further pressure on socialist-utopia Venezuala which needs $121/bbl to break-even. Credit risk for the South American nation has exploded today to record highs – implying […]
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 […]
