Oil Trades Below $50 as Market Pessimism Over OPEC Deal Lingers
U.S. explorers added rigs for 19th week to highest since 2015 OPEC and allies agreed to prolong output curbs for nine months Oil traded below $50 a barrel after OPEC Continue Reading
Oil falls as U.S. drilling undermines drive to tighten markets
Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply. Trading activity will be subdued on Monday due to public holidays Continue Reading
How Much Will Inventories Shrink As OPEC Extends Cuts?
Well, if it’s the end of May, it must be time for another OPEC meeting. And sure enough it was. Yet again, the representatives of the OPEC nations got together Continue Reading
Strong start to summer driving season pushed U.S. oil rises towards $50
U.S. crude oil prices rose toward $50 per barrel on Tuesday as a strong start to the summer driving season in the United States suggested strong fuel demand in months Continue Reading
Are Oil Prices $7 Too High?
OPEC extended oil production cuts last week and oil prices plunged. OPEC’s goal was to keep a floor under current prices but the market expected the cartel to move prices Continue Reading
Has Big Oil Regained Its Pre-Crash Position?
The oil price crash battered the 2016 earnings of energy firms, but the usual suspects are still there in the rankings of the biggest oil and gas companies this year. Continue Reading
OPEC ponders how to co-exist with U.S. shale oil
First, they ignored each other. Then, they went into a bruising fight. Finally, they are talking, albeit with opposing agendas. The history of the relationship between OPEC and the U.S. Continue Reading
Putin, Saudi Prince to Meet After Extending Oil-Supply Curb Deal
Talks likely to focus on oil-market cooperation, Syria Two biggest oil producers put aside rivalry to prop up prices Russian President Vladimir Putin is to meet with Saudi Arabia’s Deputy Continue Reading
Is This Saudi Arabia’s Newest Strategy To Boost Oil Prices?
OPEC’s new strategy to balance the oil market is to cut oil exports to the U.S., a move intended to drain near-record-high crude oil inventories. OPEC originally thought that six Continue Reading
Goldman Sachs Under Fire for Venezuela Bond Deal
Goldman Sachs Group Inc. is on the defensive in Venezuela after it bought bonds that had been held by the struggling country’s central bank in a transaction the government’s opposition Continue Reading