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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 […]
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.” […]
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 […]
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. […]
“It’s A Huge Crisis” – The UK Oil Industry Is “Close To Collapse” | Zero Hedge
“It’s A Huge Crisis” – The UK Oil Industry Is “Close To Collapse” | Zero Hedge. t seems like only yesterday when back on October 11, we first explained – and previewed – the collapse of oil courtesy of the secret deal between the US and Saudi Arabia. However, it seems like only this morning when we […]
Comstock Suspends Drilling In Eagle Ford Due To Plunging Oil Prices | Zero Hedge
Comstock Suspends Drilling In Eagle Ford Due To Plunging Oil Prices | Zero Hedge. Shale 0 – Saudi Arabia 1 Following one after another major and shale company announcing plans to trim capex (even as they miraculously still get to keep their revenue and EPS projections intact, for now), the latest victory handed to Saudi […]
Saudi Arabia Says Hard for OPEC to Give Up Oil-Market Share – Bloomberg
Saudi Arabia Says Hard for OPEC to Give Up Oil-Market Share – Bloomberg. Saudi Arabia and OPEC would find it “difficult, if not impossible” to give up market share by cutting crude production, the country’s oil minister said. Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil […]
Saudi Arabia’s Oil Exports Drop Was Sign of Weaker Demand – Bloomberg
Saudi Arabia’s Oil Exports Drop Was Sign of Weaker Demand – Bloomberg. Saudi Arabia shipped 10 percent less oil overseas in October than it did a year earlier, signaling demand was falling even before OPEC decided a month later to hold production unchanged with prices plunging. Oil exports fell to 6.9 million barrels a day in […]
Oil: The Battle For Market Share & The Saudi’s 1985 Playbook | Zero Hedge
Oil: The Battle For Market Share & The Saudi’s 1985 Playbook | Zero Hedge. Via BofAML’s Jake Greenberg, OIL: the battle for market share & the Saudi’s 1985 playbook Stay positioned for “a good sweating” = stay short the SXEP (European Oil & Gas Stocks) and sell rallies In 1985, the Saudis chose volume over price to […]
Crude Crash Set To Continue After Arab Emirates Hint $40 Oil Coming Next | Zero Hedge
Crude Crash Set To Continue After Arab Emirates Hint $40 Oil Coming Next | Zero Hedge. In space, no one can hear you scream… unless you happen to be Venezuela’s (soon to be former) leader Nicolas Maduro, who has been doing a lot of screaming this morningfollowing news that UAE’s Energy Minister Suhail Al-Mazrouei said OPEC […]
WTI Crude Crashes To $60 Handle As Saudis Shun Cuts | Zero Hedge
WTI Crude Crashes To $60 Handle As Saudis Shun Cuts | Zero Hedge. Brent Crude crossed below $65 for the first time since 2009 this morning and WTI began to slide as inventories showed a bigger-than-expected build. But it was Saudi Arabia’s oil minister al-Naimi who sparked the latest dump: *NAIMI SAYS `WHY SHOULD I […]
Resource Insights: How the U.S. could fight OPEC and win (and why it won’t)
Resource Insights: How the U.S. could fight OPEC and win (and why it won’t). OPEC has declared war on American oil production with the intention of making the country more dependent on imported oil and on oil in general. By refusing to cut production in the face of weakening world demand, the cartel has allowed oil […]
Saudis Cut Oil Prices Again In Bid To Maintain Market Share
Saudis Cut Oil Prices Again In Bid To Maintain Market Share. Saudi Arabia may have led the move to keep OPEC’s crude production high and thereby keep prices low, but that doesn’t mean it isn’t concerned about keeping its share of the global oil market. Riyadh evidently demonstrated that on Dec. 4 when it dramatically cut […]
Crude Slides After Saudis Suggest Oil Stabilizes Around $60 | Zero Hedge
Crude Slides After Saudis Suggest Oil Stabilizes Around $60 | Zero Hedge. Just when industry experts were eying zee stabilittee in oil prices in the last 12 hours, this happens… *SAUDI ARABIA SAID TO SEE OIL AROUND $60/BARREL: WSJ And crude oil prices begin to dip once again. As The Wall Street Journal reports, Oil […]
BBC News – Why is Saudi Arabia using oil as a weapon?
BBC News – Why is Saudi Arabia using oil as a weapon?. A recent meeting in Vienna, between the member states of Opec finally uncovered what the world had expected for months. Saudi Arabia is playing politics with oil, forcing Opec to maintain its current production levels at 30m barrels per day, to force down the […]
