Oil slips toward $30, traders bet on more falls
Crude oil slipped toward $30 per barrel to a near 12-year low on Tuesday as heavy oversupply showed no sign of easing, while analysts scrambled to cut their price forecasts Continue Reading
Oil price to slide towards $20 a barrel, warns Morgan Stanley
Oil’s dismal start to the new year continued on Monday as prices plumbed fresh lows, with Morgan Stanley adding to a growing number of voices warning that prices could slide Continue Reading
U.S. crude oil prices drop over 2 percent as market loses faith in rebound
U.S. crude oil prices were down more than 2 percent in early trading on Monday as traders increasingly lose faith in a significant market recovery soon and bet on even Continue Reading
Oil market braces for longer downturn as 2020 crude falls to $50
The growing gloom that sent oil markets reeling last week appears to be much more than a short-term phenomenon. Oil contracts for 2018 and beyond, normally slow to follow fluctuations Continue Reading
International Rig Counts Still Falling
The monthly Baker Hughes International Rig Count came out a few days ago. Baker Hughes international rig counts do not include US, Canada, FSU countries or on shore China. All Continue Reading
Meet Manifa (And Other Giant Oil Projects) That Will Add To The Global Oil Glut
World oil consumption is more than 90 million barrels a day. Between 2009 and 2014 oil was traded for about 110 dollars a barrel; now oil is changing hands for Continue Reading
Erbil power project halted after attack on foreign contractors
Work on one of Kurdistan’s major new power plants has stopped after a Jan. 6 attack that was sparked by a commercial dispute between foreign companies and a local Kurdish Continue Reading
Saudi Arabia Could List Production Assets in Aramco IPO
Saudi Arabia’s potential sale of shares in its state-owned oil giant could include listing at least part of its exploration and production assets, the company’s chairman said in an interview Continue Reading
Saudis defend fiscal health
The Saudi government said Monday its financial house is in order despite the negative pressure exerted by historically low crude oil prices. The Saudi Arabian Monetary Agency said there were Continue Reading
Saudi Aramco would sell downstream ops, not upstream
Saudi Arabia is considering selling shares in refining ventures with foreign oil firms but would not offer a stake in the crude oil exploration and production operations of state oil Continue Reading