Will We See $60 Oil By Christmas?
For the first 11 months of the year, OPEC talked oil prices up, but by December it became clear that oil prices were not going to rise higher on mere Continue Reading
U.S. Shale Set To Kill Oil Price Rally
The resurgence of U.S. shale will undermine the OPEC-fueled price rally, capping oil prices at roughly $50 per barrel through 2017. That is the conclusion from the EIA’s latest Short-Term Continue Reading
Oil Trades Near $51 After Slumping on Signs of Shale Comeback
Oil traded near $51 a barrel amid speculation a production boost from U.S. shale producers will counter the first output cuts from OPEC in eight years. Futures rose 0.4 percent Continue Reading
Brent and WTI see small gains as end of year approaches
Crude futures closed up slightly Tuesday, getting some relief from a weak dollar but not making significant strides as traders prepared for the end of the year. The dollar is Continue Reading
Oil drops on doubts output cut will be deep enough to end glut
Oil prices fell on Wednesday on persistent doubts a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged Continue Reading
Oil Reacts Stoically As API Reports Biggest Cushing Inventory Build Since 2008
This week’s American Petroleum Institution (API) report showed the second consecutive week of crude inventory draws that exceeded expert predictions. The report estimates a 2.21 million barrel drop in inventories, Continue Reading
Oil Prices Slip After Rallying to One-Year High
Oil prices slipped off one-year highs Tuesday with OPEC skeptics taking control of the market again after several days of surging prices because of cutbacks promised by the world’s oil Continue Reading
Oil prices crash as reality sets in
Growing sentiment Tuesday that the rally in crude oil prices will lead to more appetite for production helped put an end to an OPEC-fueled run for the bulls. Crude oil Continue Reading
OPEC wants oil price to be moderate, not too high: TASS quotes Venezuela’s Del Pino
OPEC is aiming for a moderate but not too high oil price, Venezuelan Oil Minister Eulogio Del Pino told Russia’s TASS news agency in Caracas. “Our aim is to reach Continue Reading
OPEC Cheating Will Cap Oil At $52
OPEC HQ Vienna OPEC succeeded in pulling off what many thought was impossible, overcoming mutual disdain and mistrust to reach a deal on reducing its oil output. Oil prices skyrocketed Continue Reading