01/09/2015
Gail Tverberg Both the stock market and oil prices have been plunging. Is this “just another cycle,” or is it something much worse? I think it is something much worse. Back in January, I wrote a post called Oil and the Econ..
01/09/2015
MOSCOW: Russia said to move closer to new oil tax to spur production. The country took another step toward changing how it taxes the oil industry after the finance ministry proposed reducing its reliance on duties tied to crude production with a new ..
01/09/2015
Lior Cohen Oil prices rallied in the past few days on account of strong U.S. data. Despite the high volatility in the oil market, the Brent-WTI spread remained relatively stable. What is next for th..
01/09/2015
Oil prices crashed last week only to rebound at lightning speed. On August 28, oil prices surged 10 percent, the largest one-day gain in seven years. So, what happens next for oil prices? On the face of it, the crash and massive rebound makes litt..
01/09/2015
Motley Fool "Oil Glut, Price Collapse Spread Across World's Economies: Ripple Effect at U.S. Firms Unmistakable" -- Los Angeles Times headline Many headlines have been written over the years that point to the ne..
01/09/2015
U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated. Oil companies have cut back spending significantly in response to the fall in the price of oil. The number of rigs that are acti..
01/09/2015
Stephanie Yang Crude oil settling more than 10 percent higher on Thursday, for a sharp snap back after hitting a six-year low early this week. The rally buoyed energy stocks, which climbed almost 5 percent by the closing bell. H..
01/09/2015
Despite the two-day rally in oil, the volatility will continue over the next month or two, with the lows likely coming sometime in September or October, the former president of Shell Oil said Friday. However, "in the November, ..
01/09/2015
Alexandra Gibbs On Thursday, oil prices soared over 10 percent, pushed by positive U.S. data and a recovery in financial markets, but by Friday, oil was keeping investors on their toes. On Friday, both Brent and WTI crude s..
31/08/2015
Saudi Arabia is preparing to cut billions of dollars from its budget amid a steady drop in crude oil prices, a Bloomberg report suggests. Reportedly, Riyadh is currently working with advisers to review capital spending plans and delay some projects. ..
31/08/2015
Opec is powerless to arrest the slide in oil prices unless other producers such as Russia match any cuts in output, according to a former president of the group. With oil prices plummeting due to global oversupply, the Organisation of the Petroleu..
31/08/2015
Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices. DUBAI/LONDON: Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets,..
31/08/2015
Vivian Nereim Arif Sharif Saudi Arabia’s pledge to maintain its dollar currency peg, amid oil’s slump to a seven-year low, is likely to be followed by its smaller Gulf neighbors. Ahmed Alkholifey, the Saudi central bank’s deputy g..
31/08/2015
In the short-term, Janet Yellen could be the only hope that oil bulls have left. Oil prices have continued to plummet, except on August 24, they were no longer alone. Stock markets around the world crashed on what is becoming known as “Meltdow..
31/08/2015
TEHRAN (FNA)- Iranian Oil Minister Bijan Namdar Zanganeh said on Tuesday called on certain crude exporters to lower excess production to give Tehran back its share of the market, cautioning that Tehran will soon start with 1mbpd of exports under any ..
31/08/2015
Opec: bunker costs have broadly followed the 60% fall in crude oil prices since mid-2014. Opec: bunker costs have broadly followed the 60% fall in crude oil prices since mid-2014. Tanker owners might suffer a double hit from Middle East oil pro..
31/08/2015
As the selloff in global markets converge with growth concerns to drive down oil prices, analysts are weighing the odds that OPEC could be forced into a production cut. In the middle of mounting speculation that major oil producing countries could c..
28/08/2015
Around 90 per cent of the country's revenue comes from oil (Source: Getty) There's no escaping the market meltdown - even Saudi Arabia, which for years has revelled in its oil-rich economy, is having to consider austerity measures. &nbs..
25/08/2015
Oil prices resumed their downward trend on Friday pulled lower by weaker global stock markets and a sharp contraction in China's manufacturing activity, with the US benchmark on track for its longest weekly losing streak since 1986. Ac..
25/08/2015
Anthony Starkey With WTI on the precipice of breaking below $40/bbl, chatter abounds on just how low oil prices can go from here, with some discussing prices in the low $30s, or potentially lower. While this type of price action is not without ..
25/08/2015
The oil price was near its lowest in more than a decade, cash reserves were being depleted, emerging markets were in turmoil and Saudi Arabia was beginning to panic. “It was a very scary moment,” said Khalid Alsweilem, former..
25/08/2015
The Texas RRC Oil & Gas Production Estimates are in. By now everyone should know that the Texas oil and gas data is incomplete and the drooping data lines will eventually look more like the EIA lines as the more and more data comes. The EIA data i..
25/08/2015
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia’..
25/08/2015
TEHRAN, Aug. 20 (UPI) -- Once sanctions pressure on the energy sector is released, Iran must work to reclaim its share of the global market, a government spokesman said. Iran, under the terms of a November 2013 agreement, is allowed some oil exp..
25/08/2015
“No one can set the price of oil. It’s up to Allah,” said Saudi Arabian Oil Minister Ali al-Naimi in May. But less devout people believe that Saudi Arabia has been trying very hard to set the price of oil – and to set it low. ..
25/08/2015
New EIA data sparked yet another sell off for crude oil, with WTI declining by more than 4 percent on August 19, and Brent down by 3.8 percent. The last time oil was this low, the global economy was digging out of a massive financial meltdown. Thi..
25/08/2015
By Alex McGuire, Associate Editor, Money Morning • @AlexMcGuire92 • August 20, 2015 Yesterday (Wednesday), the Associated Press (AP) reported that Iran will be permitted to use its own experts to inspect Parchin – one of the countr..
25/08/2015
Yesterday’s 2.6 million barrel build to crude stocks from the US weekly inventory report has has sucker-punched oil prices lower once more. A drop in refinery utilization – combined with imports popping above 8 million barrels per day..
25/08/2015
A Gary Shilling, Bloomberg News In February, I predicted that crude oil prices would drop to US$10 to US$20 a barrel. At the time, the price of West Texas Intermediate was US$54, down from US$74 in November, when OPEC decided not to cut productio..
25/08/2015
(John Kemp is a Reuters market analyst. The views expressed are his own) By John Kemp LONDON Aug 20 (Reuters) - U.S. crude imports topped 8 million barrels per day (bpd) last week for only the second time this year, spurring an unexpected rise ..
25/08/2015
Pressure is building on Saudi Arabia from members within the Organisation of the Petroleum Exporting Countries (Opec) to agree to an emergency meeting to arrest plummeting oil prices. The Telegraph understands that Opec’s secretary general, ..
25/08/2015
Valero’s oil refinery in Memphis, Tenn. Refineries dialing back operations could send crude prices even lower. Photo: Luke Sharrett/Bloomberg News As crude oil teeters on the edge of the $30s, it isn’t necessarily China or Saudi Arabia t..
25/08/2015
By Robert Feinberg Dennis Gartman, founder and editor of The Gartman Letter, predicts the crude-oil price freefall will end in “panic liquidation,” bankruptcies, and distress mergers. He cites a “huge spread” ..
20/08/2015
By Roland Head At just $49 per barrel, Brent crude oil is 28% lower than at the start of May and more than 50% lower than it was one year ago, when oil was still trading at over $100 per barrel. Oil firms have responded by slashing expenditure an..
20/08/2015
Tom Dispatch Why an Oil Glut May Lead to a New World of Energy The plunge of global oil prices began in June 2014, when benchmark Brent crude was selling at $114 per barrel. It hit bottom at $46 this January, a near-collapse widely viewed as a majo..
20/08/2015
Adam Garfinkle At this time last year, oil was trading just above $100 per barrel. Today, Brent crude is selling for just $49 per barrel, a staggering 50 percent drop that’s put producers around the world under pressure. Saudi-led OPEC hasn&..
20/08/2015
Peter Prazic, MA Exxon Mobil CorporationOil prices may look dismal at the moment, but they are even worse when you consider that summer demand is supposed to be the highest of all year. Oil is in such dire straits that it may even sink to as low a..
20/08/2015
Ravender Sembhy Saudi Arabia's attempt to crush the US shale industry is backfiring. Brent crude is trading at about $48.52 (£31) per barrel, compared with $107 (£69, €98) in June 2014, largely due to massive overproduction by Riy..
17/07/2015
Europe’s economic health and the US dollar are key to maintaining oil prices. As strained negotiations between the Greek government and European financial ministers enter the end-game, the impact on energy markets remains uncertain, a report..
17/07/2015
A brief period of high profitability for the world's oil refineries is likely to come to an end as quickly as it began, the International Energy Agency (IEA) said. Weak crude oil and relatively high prices for gasoline, diesel and petrochemical fe..
17/07/2015
Any nuclear deal between Iran and six world powers loosening sanctions against Tehran could flood an oversupplied oil market with more fuel, yet sectors like cement and steel would see a rise in demand as the country works to revitalise its economy. ..
17/07/2015
Tamar Essner, energy analyst at Nasdaq Advisory Services It took until July, but the crude-oil markets have managed to ignore Chinafor most of the year so far. The price volatility that saw an 11-percent selloff in oil futures in the first quarter f..
17/07/2015
China regained its status from the U.S. as the world’s biggest crude oil importer as shipments surged to fill the Asian country’s strategic petroleum reserves. Overseas purchases by China rose to 29.49 million metric tons in June, a 27 p..
17/07/2015
Zachary Storella Weekly Large Trader COT Report: WTI WTI Crude Oil: COT Futures Sentiment CFTC COT data shows speculator’s bets dropped last week WTI Crude Oil Non-Commercial Positions: Futures market traders and large oil speculators sh..
17/07/2015
Houston (Platts) US crude oil production from shales is projected to fall for the fourth month in a row in August to 5.357 million b/d, a drop of 91,000 b/d from July estimates, the US Energy Information Administration said Monday in its latest Dril..
17/07/2015
Nick Cunningham Oil prices may have firmed up a bit this spring, but we could be heading into another protracted period of weak prices. First there are the demand risks. The Chinese stock market turmoil raises serious concerns over a potential fi..
17/07/2015
James Stafford What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the g..
16/07/2015
Bruce Kennedy After weeks of negotiations, deadline extensions, threats to walk away from the talks and promises to work out the sticking points, a long-sought-after international agreement with Iran could be within reach. Six nations, including th..
10/07/2015
Stocks fell across the globe in response to Greece's 'No' vote in a referendum on whether to accept the latest bailout package offered by its European creditors. The big loser, amid selling in markets from Asia to Europe to the US, was crude oil. Fi..
09/07/2015
by Mikael Holter No one can accuse the Norwegian government of being greedy when it last week decided on the ownership stakes in the giant Johan Sverdrup oil discovery. After months of deliberation, the Petroleum and Energy Ministry’s decisio..
09/07/2015
Myles Udland In early afternoon trade on Monday, West Texas Intermediate crude oil was down over 7.8% to as low as $52.48 a barrel. This is the biggest intraday move for crude oil since February and the lowest price for WTI crude since early April...
09/07/2015
NYC-based PIRA Energy Group believes that crude stock draws have already begun and will pick up momentum in the third quarter. In the U.S., crude and products stocks showed builds. In Japan, crude runs fell marginally and imports dropped back such th..
09/07/2015
Greg Sharenow, PIMCO While markets focus on Greece, historic negotiations between Iran and the P5+1 (U.K., U.S., France, Germany, Russia and China) over the status of Iran’s nuclear program are approaching a July 7 deadline in Vienna. News r..
09/07/2015
Saudi Arabia has cut the official selling price (OSP) for its benchmark Arab Light crude to Asia in August, as expected, while raising the price to European customers. State oil company Aramco has lowered the August price for its Arab Light grade ..
09/07/2015
Elena Holodny An Iran nuclear deal could mean bad news for the Russian oil business. The most obvious source of pain: The re-introduction of Iranian oil on the market after sanctions are lifted could push oil prices down again. Given Russia's depe..
08/07/2015
The cyclicality of the oil and gas industry is unlikely to impact the long term trajectory of the sector, a report said, noting that the current fluctuations may speed up some of the trends that were already unfolding. The new report entitled &ldq..
08/07/2015
Towards the end of last year I had a couple of posts, the first explaining the oil price crash of 2014 in terms of a simple supply-demand model and the second using this model to anticipate where the oil price may head in 2015 and 2016. In light of t..
07/07/2015
Despite oil prices plummeting over the past year, falling from around $100 per barrel to now under $60 per barrel, the U.S. shale industry has proved resilient. There have been a few bankruptcies and a significant decline in revenues for drillers acr..
06/07/2015
Oil prices are likely to be stable for the rest of this year and climb in 2016 and 2017 as global demand picks up, shrugging off setbacks from the Greek debt crisis and the possible lifting of sanctions on Iran, a Reuters poll has forecast. ..
06/07/2015
By Robert Rapier on Jul 2, 2015 Given the amount of air time the crude oil storage situation received back in March and April, this might be a good time to revisit that situation. If you recall, there was a great amount of hand-wringing regarding ..