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OPEC+ Floats 1 Million Barrel Production Cut After Oil Price Tumbles Into Bear Market
OPEC+ Floats 1 Million Barrel Production Cut After Oil Price Tumbles Into Bear Market With oil prices entering a bear market last week, tumbling 21% from recent highs as it became clear that Trump will significantly water down Iran oil export sanctions by granting waivers to its 8 largest clients even as US inventory stockpiles […]
Saudi Arabia Is Evaluating A Break Up Of OPEC
Saudi Arabia Is Evaluating A Break Up Of OPEC In potentially groundbreaking news – which failed to generate a market response as it hit at the same time as the FOMC statement – Saudi Arabia’s top government-funded think tank is said to be studying the possible effects on oil markets of a breakup of OPEC, […]
WTI Slumps To $61 Handle After US Crude Production Soars To New Record High
WTI Slumps To $61 Handle After US Crude Production Soars To New Record High Despite sliding after last night’s API-reported big Crude and Cushing build, WTI has rebounded overnight amid a post-midterms tumbling dollar, but a larger crude build than expected from DOE, combined with a smaller gasoline draw, could lead to WTI “set to […]
The Untouchable US-Saudi Relation Is a Core Element of US Imperialism
The Untouchable US-Saudi Relation Is a Core Element of US Imperialism In the last few weeks, numerous articles and analyses have been produced relating to the murder of Jamal Khashoggi in the Saudi consulate in Istanbul. However, the relationship between Saudi Arabia and the United States has not been questioned, and the reason for this has not […]
U.S. And OPEC Flood Oil Market Ahead Of Midterms
U.S. And OPEC Flood Oil Market Ahead Of Midterms OPEC and the U.S. are together adding enormous volumes of new supply, which together have softened the oil market. In October, OPEC hiked oil production to the highest level since 2016, back before the oil production cuts went into effect, according to a recent Reuters survey. […]
Iran’s Worst Nightmare Is Coming True
Iran’s Worst Nightmare Is Coming True In what must seem like a nightmare scenario for Iran, not only is another U.S. president leveling sanctions against its economy, and particularly that economy’s lifeblood, its oil sector, but the current U.S. president has admittedly made it his mission to drive Tehran to its knees over what he […]
Is The Oil Supply Glut Set To Return?
Is The Oil Supply Glut Set To Return? Is the oil market tightening too much or is a glut on the verge of making a comeback? There were a series of mixed messages from both OPEC and the IEA in recent days, offering a muddy outlook for the oil market. First was the TASS interview […]
Big Oil Walking A Tightrope As Prices Rise
Big Oil Walking A Tightrope As Prices Rise Supermajors have had a great year so far, and their third-quarter results, to be released over the next couple of weeks, are likely to strengthen this impression. But this does not necessarily mean that investors will reward them. Investors have become a lot more careful in the […]
This Alliance Could Mark A New Era For Oil
This Alliance Could Mark A New Era For Oil Saudi Arabia and Russia could formalize a strategic partnership that would last indefinitely, potentially marking a new era for the oil market. In a wide-ranging interview with TASS, Saudi oil minister Khalid al-Falih said that he hopes to setup an official OPEC+ governing body, including a […]
Are Claims Of Peak Oil Production In Russia Overblown?
Are Claims Of Peak Oil Production In Russia Overblown? Russian authorities have announced that domestic oil production hit 11.36 million barrels per day (bpd), on average, in September (Vedomosti, October 2). This marks a new historic peak, reached despite the often-cited poor shape of the Russian economy and negative impact of Western sanctions, not to […]
U.S-Saudi Clash Could Spell Disaster For OPEC
U.S-Saudi Clash Could Spell Disaster For OPEC The Khashoggi case is far from over, as current harsh statements coming from Washington are showing. Not only is there a long line of U.S. Senators calling for an in-depth investigation of the matter, some have even openly called for the removal of Saudi Crown Prince Mohammed bin. […]
Saudi Arabia Calls The End Of Russia’s Oil Prowess
Saudi Arabia Calls The End Of Russia’s Oil Prowess Saudi Arabia has not only called the end of Russia’s prominence as a global oil behemoth, but anticipates that Russia’s oil exports “will have declined heavily if not disappeared” within the next 19 years, Mohammed bin Salman said in a recent interview with Bloomberg. When asked […]
The Implications Of A Fractured U.S., Saudi Alliance
The Implications Of A Fractured U.S., Saudi Alliance After the resurgence of the U.S. oil industry in recent years due to hydraulic fracking and the shale oil revolution, most thought the days of Middle Eastern oil producers, Saudi Arabia in particular, being able to threaten use of the so-called oil weapon as geopolitical leverage or […]
Opinion: Powell has lost his North Star, and the Fed is flying blind
Opinion: Powell has lost his North Star, and the Fed is flying blind The Fed risks raising interest rates too much as the compass spins wildly STAN HONDA/AFP/Getty ImagesStars appear to rotate around Polaris, the North Star, in this time exposure of the Kitt Peak National Observatory near Tucson, Ariz. Federal Reserve Chairman Jerome Powell […]
