Crude Slips Below $53 as U.S. Drilling Surge Stokes Output Fears
U.S. rig data shows the longest stretch of gains since 2011 Global oil market moving closer to balance: Saudi Aramco CEO Oil declined below $53 a barrel as the U.S. Continue Reading
Did Algos Drive The Latest Oil Price Rally?
We have seen before how machines, or more precisely the algorithmically programmed computers, are increasingly responsible for setting prices in the WTI futures pit. The algos feed on news flow, Continue Reading
Analysts Remain Bullish With $70 Oil By Year-End
Despite slow start to oil price growth in 2017, Raymond James says $70 WTI is on the horizon. Bullish global oil demand is expected to draw 1 million barrels per Continue Reading
Bullish Oil Bets Gain on Signs OPEC Cuts to Outdo U.S. Boom
Money managers’ WTI net-longs increase for second week: CFTC WTI oil tops $53 a barrel; U.S. crude supply drops from record OPEC is finally making some headway in its race Continue Reading
May U.S. shale oil output seen rising most in over two years
U.S. shale production in May was set for its biggest monthly increase in more than two years, government data showed on Monday, as producers stepped up their drilling activity with Continue Reading
Reeling From Low Oil Prices, Saudis Look To Freeze Megaprojects
Saudi Arabia will start reviewing a number of multi-billion-dollar infrastructure and development project—remnants from a better past when crude oil prices were in three-digit territory. Some of these, according to Continue Reading
Iran Boosts Gas-Output Capacity With New Projects at Giant Field
Iran boosts output by inaugurating six projects at the giant South Pars offshore field. (Bloomberg) — Iran, holder of the world’s biggest natural gas reserves, boosted output by inaugurating six Continue Reading
Citi Sees Oil Surging $10 as OPEC Combats Roaring U.S. Shale
Mid-$60 oil seen by end-2017 as effects of OPEC cuts increase Bank sees commodity investment flows rising in second quarter Citigroup Inc. joined Goldman Sachs Group Inc. in backing commodities, Continue Reading
Iran boasts of economic break from oil
During the first 11 months of the Iranian calendar year, non-oil exports have grown more than 30 percent, state media reported Monday. Ali Khamenei , the ruling cleric in Iran, Continue Reading
Saudis Target 30 Solar, Wind Projects in $50 Billion Pledge
World’s biggest exporter of crude seeks to wean itself off oil Government to tender for 400 megawatts of wind in 4th quarter Saudi Arabia will develop 30 solar and wind Continue Reading