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Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars Having failed to achieve the slightest semblance of success in the two oil price wars that it started – the first running from 2014 to 2016, and the second running from the beginning of March to effectively the end of April this year […]
Oil Price War Claims Another Victim
Oil Price War Claims Another Victim The oil price war has already claimed its first victim. Whiting Petroleum Corp. (NYSE: WLL), once the largest oil and gas producer in North Dakota’s Bakken Shale, has filed for Chapter 11 bankruptcy becoming the first major shale producer to do so in the current year. Whiting has cited the “severe […]
Oil Spikes After Russia Says Ready For “Substantial Output Cut”, But Warns 10MMb/d Cut Not Enough
Oil Spikes After Russia Says Ready For “Substantial Output Cut”, But Warns 10MMb/d Cut Not Enough Over the weekend, following the biggest ever oil short-squeeze in history following rampant hopes that Saudi Arabia and Russia were considering putting their differences aside and cutting up to 10mmb/d in oil output, we said that in a world where oil […]
Texas Or Canada: Where Will Oil Hit $0 First
Texas Or Canada: Where Will Oil Hit $0 First Looking at the future of oil prices, Goldman was downright apocalyptic in its short-term forecast, when in a note published this morning, the bank’s chief commodity strategist Jeffrey Currie speculated that as the current production glut “shock” cripples the crude transportation networks, “a producer would be […]
Energy Collapse, Earnings Ennui, & Consumer Credit Cracks
Energy Collapse, Earnings Ennui, & Consumer Credit Cracks Summary: The energy sector has lost extraordinarily $1.15trn in market value this year as oil prices have plunged to almost unimaginable levels. In this equity update we provide investors with different ways to play the havoc in the energy sector. We also take a look at earnings this week […]
The Unthinkable Is Happening: Oil Storage Space Is About To Run Out
The Unthinkable Is Happening: Oil Storage Space Is About To Run Out In the past three weeks, oil plunged and has continued to plunge even more in the aftermath of the oil price war declared between Saudi Arabia and Russia, and where US shale (and its junk bonds) has been caught in the crossfire. However, […]
Why Saudi Arabia Will Not Win The Oil Price War
Why Saudi Arabia Will Not Win The Oil Price War Crude oil prices continued to surprise on Tuesday, with the U.S. benchmark adding another 4 percent to $44.60 a barrel. West Texas Intermediate is now up 65 percent since hitting 13-year lows below $27 a barrel February 11. It’s a performance only bettered by the […]
Saudis Bring Oil War To Europe With Largest Price Discount Since 2009
Saudis Bring Oil War To Europe With Largest Price Discount Since 2009 With oil exports to Europe having slipped from 13% of Saudi’s total to just 10% in the last six months, The FT reports, the de facto leader of OPEC has slashed its Official Selling Price (OSP) to Europe in an effort to regain market share. Saudi lowered […]
The Saudi Oil Price War Is Backfiring
The Saudi Oil Price War Is Backfiring Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have […]
OPEC Struggling To Keep Up The Pace In Oil Price War
OPEC Struggling To Keep Up The Pace In Oil Price War Some market watchers, such as Cornerstone Analytics (CA), have consistently stated that the underestimation of demand, coupled with over-estimation of supply, will mask the growing call on OPEC oil in the second half of this year. CA recently noted that global demand outstripped supply […]
This May Just Be The Start Of The Oil Price War Says IEA
This May Just Be The Start Of The Oil Price War Says IEA Saudi Oil Minister Ali al-Naimi may be one of the most powerful individuals in the global oil industry. After all, as the top oil official in arguably the world’s most influential oil-producing country, he has enormous influence. But for all his power, […]
Who Is Behind The Oil War, And How Low Will The Price Of Crude Go In 2015?
Who Is Behind The Oil War, And How Low Will The Price Of Crude Go In 2015?. Who is to blame for the staggering collapse of the price of oil? Is it the Saudis? Is it the United States? Are Saudi Arabia and the U.S. government working together to hurt Russia? And if this oil […]
Canadian Oil Surge to U.S. Gulf Puts Mexico on Defensive – Bloomberg
Canadian Oil Surge to U.S. Gulf Puts Mexico on Defensive – Bloomberg. A price war is brewing between Canadaand Latin America over who will satisfy U.S. Gulf Coast refiners’ hunger for heavy oil. The new Seaway Twin pipeline will almost double the amount of heavy Canadian crude coming to Gulf terminals and plants to about 400,000 barrels a […]
“It’s Different This Time?” What Happened To US Oil Drillers During The Last Price War | Zero Hedge
“It’s Different This Time?” What Happened To US Oil Drillers During The Last Price War | Zero Hedge. History may not repeat but it rhymes so loud sometimes that Einstein would be rolling in his repetitively insane grave. As Bloomberg notes, the last time that U.S. oil drillers got caught up in a price war orchestrated by […]
Oil Plunges As Saudis Dismiss Price War “No Basis In Reality” | Zero Hedge
Oil Plunges As Saudis Dismiss Price War “No Basis In Reality” | Zero Hedge. WTI Crude oil prices tumbled to a $75 handle this morning as Saudi oil minister al-Naimi dismissed claims of a price-war as having “no basis in reality” noting that “Saudi oil policy has remained constant for the past few decades and it has […]
