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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 […]
Saudi Arabia’s Two-Fronted “War” | Zero Hedge
Saudi Arabia’s Two-Fronted “War” | Zero Hedge. Saudi Arabia is the middle of two ‘wars” – religious (from The Kingdom’s perspective, Iran is a large Persian country sitting at the easternmost edge of the Middle East, from where it projects power across the Arab world by manipulating and exploiting the region’s Shiite communities and other minorities) Via Stratfor, […]
Saudi Arabia: Producing More Crude, Selling Less?
Saudi Arabia: Producing More Crude, Selling Less?. Media reports are quoting an anonymous source as saying Saudi Arabia, the world’s leading oil exporter, supplied foreign and domestic customers with less crude during September even though its oil production was up slightly. The source, identified only as being familiar with the Saudi oil industry, said it extracted, on […]
Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge
Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge. Saudi Arabia, it appears, had enough of shooting itself in the foot for its American ‘partners’, and has admitted for the first time that it slashed supply in September. As Bloomberg reports, OPEC’s biggest producer cut supply to mkt by 328k b/d in […]
Saudi Cleric Blasts Twitter As “Source Of All Evil” As Riyal Slides To Lowest Since 2008 | Zero Hedge
Saudi Cleric Blasts Twitter As “Source Of All Evil” As Riyal Slides To Lowest Since 2008 | Zero Hedge. The last 2 days have seen enormous volatility in the Saudi Riyal exchange rate, purportedly oil-related FX hedging programs as the SAR dropped to its lowest sicne Dec 2008, but the most extreme ‘moves’ were left to […]
How will Saudi Arabia respond to lower oil prices? | Econbrowser
How will Saudi Arabia respond to lower oil prices? | Econbrowser. Oil prices (along with prices of many other commodities) have fallen dramatically since last summer. Some observers are waiting to see if Saudi Arabia responds with significant cutbacks in production. I say, don’t hold your breath. When oil demand fell in the 1981-82 recession, the […]
‘Saudi policy of downplaying oil prices to backfire on them’ — RT Op-Edge
‘Saudi policy of downplaying oil prices to backfire on them’ — RT Op-Edge. Saudi Arabia wants to use lower oil prices to pressure Russia to change its stance on Syria, to antagonize Iran, and to force US shale gas out of the market, roving correspondent for the Asia Times Pepe Escobar told RT. RT: Russia’s economy […]
Peak oil review – Oct 20
Peak oil review – Oct 20. 1. Oil and the Global Economy Oil prices continued to fall through Thursday when New York futures traded below $80 a barrel and London as low as $82.60. Prices then rebounded to close Friday at $82.75 in NY and $86.15 in London. As has been the case for several weeks, the 25 percent […]
Resource Insights: Oil decline: Price makes the story
Resource Insights: Oil decline: Price makes the story. When the world’s business editors sent their reporters canvassing to find out what is behind the recent plunge in the world oil price, they were doing what they do almost every day for every type of market: stocks, bonds, currencies, commodities and real estate. In financial journalism […]
Peak Oil Notes – Oct 16
Peak Oil Notes – Oct 16. The price plunge which began in mid-June when New York oil futures trading around $105 a barrel continued this week with oil touching $80 on Wednesday before recovering to close at $81.78. London’s Brent crude underwent a similar collapse to close yesterday at $83.46. Weak demand: increasing US shale […]
