Markets Buy The OPEC Cuts, But Fear U.S. Supply
Oil prices remain flat as markets see the tremendous rig count rise in the U.S. as a strong cap on a noteworthy oil price recovery. (Click to enlarge) Chart of Continue Reading
Oil edges up after producer meeting, but high U.S. output weighs
Oil prices edged up on Monday, supported by statements from oil producers over the weekend that an output cut was being successfully implemented, but markets were held back by a Continue Reading
Oil Prices Fall In Spite Of Consensus At OPEC Monitoring Meeting
Crude is starting the week by charging lower, as supportive rhetoric from OPEC over the weekend has done little to allay fears of ongoing strong supply this year – especially Continue Reading
Oil Prices Fall on Signs of Rising U.S. Output
Oil prices fell Monday on worries over a potential resurgence of U.S. shale production despite more confidence at OPEC that last year’s agreement to lower production is holding. Light, sweet Continue Reading
Oil Declines as Drillers in U.S. Add Most Rigs in Three Years
Oil fell for the first time in three days after U.S. drillers added the most rigs in more than three years, making it difficult for OPEC to drain global oversupply. Continue Reading
Why Oil Won’t Rally Above $60 In The Near Term
Last week the IEA warned that rising non-OPEC production could put an end to the OPEC-fueled price rally that began in late November after the cartel’s agreement to cut production. Continue Reading
Iraq says most oil majors participating in its OPEC cuts
Iraq’s oil minister said on Monday that most oil majors working on its territory were participating in oil output reductions agreed as part of the deal between OPEC and non-OPEC Continue Reading
Why Cheap Natural Gas Is History
Natural gas prices averaged a little more than $2.50 per mmBtu (million British Thermal Units) in 2016. Those days are over. Prices will average at least $3.50 to $4.00 in Continue Reading
Too Much Ain’t Enough as Investors Bet on Oil Market Rebound
Hedge funds are showing they have some faith in OPEC. Their bets on rising West Texas Intermediate crude prices reached the highest since June 2014 as the Organization of Petroleum Continue Reading
Oil Settles Higher on Signs of Tightening Supply
Crude prices rose, driven by signs of the market tightening after major oil producers agreed to cut output and by weakness in the U.S. dollar. U.S. crude prices settled up Continue Reading