In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market. Continue Reading
Oil prices stabilised on Thursday after falling by the most in more than a year over the previous session when US crude inventories climbed for the ninth straight week to Continue Reading
Oil dropped below $50 for the first time since December after concerns that OPEC’s output cuts aren’t tempering a surplus in the U.S. triggered the biggest slump in more than Continue Reading
Investors are finally taking record U.S. oil stockpiles seriously. Oil slumped the most in more than a year after government data showed production cuts from OPEC and other exporters have Continue Reading
Oil futures fell in Asian trade on Wednesday after industry data pointed to a potential ninth straight week of inventory builds, renewing concerns about an oversupply of oil despite output Continue Reading
Oil futures fell in Asian trade on Wednesday after industry data pointed to a potential ninth straight week of inventory builds, renewing concerns about an oversupply of oil despite output Continue Reading
Crude continues to churn in its tight trading range, little moved by Libyan supply concerns, nor by rhetoric coming out of CERAWeek in Houston. As we await another weekly dose Continue Reading
Oil prices will settle in the $55-$60 range in the long term, according to Jeff Currie, the lead commodities researcher at Goldman Sachs, who spoke to Bloomberg this week regarding Continue Reading
Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a Continue Reading
Oil prices will tumble to $40 a barrel if OPEC doesn’t extend its pact later this year to cut output, according to one of the most prominent producers in the Continue Reading
