Appreciating Dollar Caps Crude Rally Again
In fitting fashion, crude was screaming lower earlier, chased off by a stronger dollar (apparently in a hockey mask), before positive economic data has helped improve the mood a bit Continue Reading
Dollar Rally Has Legs as Fed Divergence Trade Comes Back to Life
The dollar’s two-week rally has room to run, with Goldman Sachs Group Inc. citing scope for greenback strength versus the yen, while Bank of America Corp. projects gains against the Continue Reading
OPEC: Energy industry spending to decline
Global spending in exploration and production over the next two years is expected to be about half what it was between 2012 and 2014, OPEC said in a monthly report. Continue Reading
OPEC Sees Rival Oil Production Declining as Markets Rebalance
OPEC forecast U.S. production this year will fall to 13.56 million barrels a day. Shrinking U.S. output and massive cuts to investment in new projects will reduce the global oil Continue Reading
OPEC Output Jump Highest Since 2008
Offshore rig OPEC countries produced 32.44 million barrels per day of oil in April, indicating a 188,000 bpd increase over the month before, while forecasting that the supply glut will Continue Reading
Saudi Arabia Loses No. 1 Spot to Iraq in Crude Exports to India
Tanker India Iraq has now overtaken Saudi Arabia in crude oil exports to India, shipping some 960,700 barrels per day (bpd) to India in April, against Saudi Arabia’s 787,700 bpd Continue Reading
Kuwait deputy FM says Iran, oil producers must not increase production
Kuwait’s deputy foreign minister Khaled Jarallah said oil exporting countries must freeze production and the market could not support a production increase from Iran, state news agency KUNA reported on Continue Reading
Saudi Arabia and Bahrain See Low Oil Price Prompt Ratings Cut
Middle Eastern oil producers including Saudi Arabia and Oman had their ratings downgraded by Moody’s Investors Service because of a collapse in oil prices, according to a statement from the Continue Reading
Exclusive: Iraq oil projects face delays as companies resist spending cuts
A general view shows a lake of oil at Al-Sheiba oil refinery in the southern Iraq city of Basra, in this January 26, 2016 file photo. International oil firms have Continue Reading
Nigeria: Militants Give Oil Firms Two Weeks to Shut Operations, Evacuate Staff
The Niger Delta Avengers (NDA), the new face of violent agitation in the oil-rich Niger Delta, yesterday issued a two-week ultimatum to owners and operators of oil concessions in the Continue Reading