Oil’s slide below $30 sends shockwaves far and wide
U.S. oil stumbled below $30 for the first time in 12 years to levels that threaten the survival of many U.S. shale firms, spur more belt-tightening by oil majors and Continue Reading
$10 Oil? Sure, Why Not?
Investment banks have been falling over themselves the past week to call for ever-lower oil prices. Banks have been throwing out increasingly low numbers as “worst-case scenario” oil prices, though Continue Reading
Amid oil price plunge, price-setting Brent supported by Shell sales to Asia
As oil prices fall to new multi-year lows on a global glut, the structure of the niche but crucial benchmark Brent market has shown counter-intuitive signs of tighter supplies and Continue Reading
$20 Oil No Longer Mirage as World Confronts 12-Year Low
The world mostly ignored Ed Morse 11 months ago when the head of commodities research at Citigroup said oil could drop as low as $20. (Bloomberg) — The world mostly Continue Reading
How low can it go? Oil could crash to $10 a barrel, warn investment bank bears
The oil bears are out in force Oil is heading for $10-a-barrel, crashing to its lowest level in more than 18 years, another major bank has warned. Standard Chartered downgraded Continue Reading
Who Wins and Who Loses in a World of Cheap Oil
Analysis Oil prices hit their lowest level since summer 2004 this week, continuing the rapid tumble that began in June 2014 . The global benchmark, Brent crude oil, closed trading Continue Reading
China, Oil Show Peril of Faulty Assumptions
National home prices never go down. Eurozone countries don’t default. Saudi Arabia won’t let the price of oil crash. China’s demand for raw materials is infinite. These are some of Continue Reading
Despite oil spending cuts in 2016, Mideast and Russia race on
Oil companies could slash 2016 spending by around 20 percent in the face of a persistent downturn, with North America taking the brunt of the cuts while Middle Eastern and Continue Reading
Oil price rout forces companies to slash $170 billion in projects from 2016-2020
Oil and gas projects worth $380 billion have been postponed or cancelled since 2014 as firms slash costs to survive the oil price crash, including $170 billion of projects planned Continue Reading
As Oil Crashed, Renewables Attracted Record $329 Billion
The slump in oil prices that’s brought upheaval and cost-cutting to the traditional energy industry spared renewables such as solar and wind, which raked in a record $329.3 billion of Continue Reading