{"id":5565,"date":"2015-02-11T07:05:03","date_gmt":"2015-02-11T12:05:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5565"},"modified":"2015-02-11T07:05:03","modified_gmt":"2015-02-11T12:05:03","slug":"oil-slips-below-56-on-expectations-oversupply-to-linger","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5565","title":{"rendered":"Oil slips below $56 on expectations oversupply to linger"},"content":{"rendered":"

Oil slips below $56 on expectations oversupply to linger<\/a><\/h3>\n

(Reuters) – Oil slipped below $56 a barrel on Wednesday, pressured by expectations that oversupply in world markets would persist and an industry report saying\u00a0U.S.\u00a0crude<\/a>\u00a0stocks rose from a record high.<\/p>\n

The American Petroleum Institute said on Tuesday crude stocks increased by 1.6 million barrels last week. Stocks are already at a record, according to the U.S. government’s Energy Information Administration (EIA), which issues its latest report on Wednesday. <EIA\/S><\/p>\n

Crude had come under pressure on Tuesday from International Energy Agency (IEA) forecasts of continued supply growth in the United States to 2020 despite lower prices, and of a possible further rise in stocks to a record high this year.<\/p>\n

“The supply growth in 2015 is likely to continue unabated, albeit at a somewhat lower rate,” Fereidun Fesharaki at Facts Global Energy said in a note to traders.<\/p>\n

“This all means a weak market in 2015 and even lower oil prices. Demand rebound will not save the oil market.”<\/p>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil slips below $56 on expectations oversupply to linger (Reuters) – Oil slipped below $56 a barrel on Wednesday, pressured by expectations that oversupply in world markets would persist and an industry report saying\u00a0U.S.\u00a0crude\u00a0stocks rose from a record high. The American Petroleum Institute said on Tuesday crude stocks increased by 1.6 million barrels last week. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[3106,3105,251,267,588,592,1775],"class_list":["post-5565","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-american-petroleum-institute","tag-api","tag-eia","tag-energy-information-administration","tag-oil","tag-oil-price","tag-oil-price-collapse"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5565"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5565\/revisions"}],"predecessor-version":[{"id":5566,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5565\/revisions\/5566"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}