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Iraq Oil Surge to Fan OPEC Rivalry That Triggered Slump
Iraq Oil Surge to Fan OPEC Rivalry That Triggered Slump (Bloomberg) — The battle for customers among OPEC members that helped trigger oil’s collapse is about to escalate. Iraqi crude production is climbing from a 35-year high as it adds growing Kurdish supplies to its exports, while southern oilfields remain unscathed by Islamic State militants. […]
OPEC Chief Claims Oil Will Rebound Higher Than In 2008
OPEC Chief Claims Oil Will Rebound Higher Than In 2008 OPEC’s secretary-general says the 7-month-old plunge in oil prices finally may have bottomed out and may be ready to rise again. In fact, Abdullah al-Badri hypothesized that a decision by his cartel to cut production conceivably could lead to oil at $200 a barrel. “Now […]
Oil prices fall on market relief over Saudi policy
Oil prices fall on market relief over Saudi policy (Reuters) – Oil prices fell on Monday, with U.S. crude falling close to a nearly six-year low, as Saudi Arabia’s new King Salman moved to assuage fears of an unstable transition and any policy change in the world’s largest oil exporter. Salman was quick to retain veteran Saudi oil […]
This Week In Energy: New Saudi King Can’t Save Oil Prices
This Week In Energy: New Saudi King Can’t Save Oil Prices The major news story breaking in the oil space today is the passing of Saudi Arabia’s King Abdullah and the succession to the throne of King Salman bin Abdulaziz Al Saud. This comes at a time when oil prices have fallen over 60 percent […]
The Saudi Succession: Its Impact On Oil, Markets And Politics
The Saudi Succession: Its Impact On Oil, Markets And Politics As reported earlier, several hours ago Saudi Arabia announced that its 91-year-old King Abdullah had passed away, in the process setting off what may be a fascinating, and problematic, Saudi succession fight which impacts everything from oil, to markets to geopolitics, especially in the aftermath of […]
Russia Just Pulled Itself Out Of The Petrodollar
Russia Just Pulled Itself Out Of The Petrodollar Back in November, before most grasped just how serious the collapse in crude was (and would become, as well as its massive implications), we wrote “How The Petrodollar Quietly Died, And Nobody Noticed“, because for the first time in almost two decades, energy-exporting countries would pull their […]
Iran will weather oil price slide, Saudi Arabia will suffer – Rouhani
Iran will weather oil price slide, Saudi Arabia will suffer – Rouhani Iranian President Hassan Rouhani said Tuesday that Iran can cope with the economic turmoil of falling oil prices, adding that Saudi Arabia and Kuwait will be harder hit. Rouhani said that while oil now only accounts for one-third of Tehran’s budget, some of […]
The Deep State Strategy: Burn Everyone Else’s Oil First, Leave Ours in the Ground
The Deep State Strategy: Burn Everyone Else’s Oil First, Leave Ours in the Ground The U.S. Deep State is in favor of Saudi Arabia’s strategy of forcing production cuts on its rivals and marginal producers for two profound reasons. It is widely presumed that if the U.S. government isn’t actively concerned about the financial carnage […]
At Last The ‘Experts’ Wake Up To Oil
At Last The ‘Experts’ Wake Up To Oil Boy, did the ‘experts’ and ‘analysts’ drop the ball on this one, or what’s the story. Only today, Goldman’s highly paid analysts admitted they’ve been dead wrong from months, that their prediction that OPEC would cut production will not happen, and that therefore oil may go as […]
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 […]
Saudi Prince Warns “We Will Not See $100 Oil Again”, Calls Anti-Russia Conspiracy “Baloney”
Saudi Prince Warns “We Will Not See $100 Oil Again”, Calls Anti-Russia Conspiracy “Baloney” Speaking to his favorite money-honey, billionaire Saudi Prince Alwaleed bin Talal told Maria Bartiromo that the negative impact of a 50% decline in oil has been wide and deep. As USA Today reports, the prince of the Saudi royal family said that while he disagrees […]
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 […]
Saudi blogger receives first 50 lashes of sentence for ‘insulting Islam’
Saudi blogger receives first 50 lashes of sentence for ‘insulting Islam’ A Saudi blogger convicted of insulting Islam was brought after Friday prayers to a public square in the port city of Jeddah and flogged 50 times before hundreds of spectators, a witness to the lashing said. The witness said Raif Badawi’s feet and hands […]
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- […]
Global Economy At Risk From Oil Price Dive
Global Economy At Risk From Oil Price Dive NEW HAVEN: Oil shocks four decades ago transformed the world economy and geopolitical landscape, and the latest oil crisis threatens to do the same. The price of oil hovered near $100 per barrel during the past three years, and the recent vertiginous fall in price to near […]
