Is $100 Oil Possible? Wells Fargo Says No
$100 oil is but a “pipe dream,” according to a new investor note by Wells Fargo. “ $100 per barrel oil remains a pipe dream” due to “massive overproduction, ” Continue Reading
Russia’s Central Bank Sees Oil Prices Down To $40 In 2018-2019
In view of the current price movements and the oil market outlook, Russia’s central bank is keeping its oil price forecast for this year at US$50 per barrel, and still Continue Reading
Oil Set for Longest Run of Weekly Losses Since 2015 Amid Glut
U.S. supplies remain 100 million barrels above 5-year average Libya sees its output reaching 1 million b/d by end of July Oil headed for the longest run of weekly losses Continue Reading
Oil Falls to New Seven-Month Low on Surplus Stocks
Oil prices slipped again Thursday, guided lower for a second-straight session by an unexpected increase in gasoline stockpiles. Light, sweet crude for July settled down 27 cents, or 0.6%, at Continue Reading
Oil prices struggle on doubts OPEC can rein in oversupply
Oil prices wallowed near their lowest levels in seven months early on Thursday, hurt by high global inventories and doubts over OPEC’s ability to implement production cuts. Brent crude futures Continue Reading
Why The United States Rule Oil Prices… Not OPEC
There’s no end in sight to slumping oil prices – good news for consumers but a dire development for major oil producers like Saudi Arabia and Russia. And now, rising Continue Reading
Oil hits six-week low as OPEC fails to curb oversupply
Sample bottle of crude oil are seen in this illustration photo June 1, 2017. Oil prices dropped to six-week lows on Thursday, under pressure from high global inventories and doubts Continue Reading
Oil Slides to Seven-Month Low on High Inventories
Oil prices tumbled to the lowest level in seven months Wednesday, as high oil inventories continued to erode confidence in the ability of major producers to ease a global supply Continue Reading
Oil Tumbles to Lowest Since November as Gasoline Supplies Surge
Gasoline inventories rose 2.1 million barrels last week: EIA Refinery utilization increased, while gasoline demand slipped Oil slipped to the lowest since November as weaker demand at the start of Continue Reading
Oil prices fall on OPEC output increase, rising U.S. crude stocks
Workers clamp together pieces of pipe while drilling an oil well near Fort Stockton, Texas, U.S., May 4, 2017. Oil prices fell on Wednesday after data showed a build in Continue Reading