Everyone is scrambling for a new plan now --- now that oil is in its third mini-bust since the major bust cycle that began in 2014. (Click to enlarge)Since the lows in early 2106, oil has made three.. OilPrice.com
Jun.21 -- Kelvin Tay, regional chief investment officer for southern Asia-Pacific at UBS Wealth Management CIO Office, discusses the oversupply of oil and the outlook for further OPEC production cuts... Source: Bloomberg Technology -
Authored by Nick Cunningham via OilPrice.com,
The power restructuring in Saudi Arabia this week led to the elevation of 31-year-old Mohammed bin Salman to crown prince, essentially ensuring that he.. Zero Hedge
The number of active oil and gas rigs in the United States rose again this week by 8—marking 23 weeks of gains and continuing to press upon battered markets who are growing increasingly dissatisfied.. OilPrice.com
NEW YORK (Reuters) - Oil futures climbed almost 1 percent on Friday on lift from a falling dollar but remained down for a fifth week in a row and close to a 10-month low as OPEC-led production cuts.. Reuters
Authored by Tsvetana Paraskova via OilPrice.com,
*OPEC’s production cut deal is unlikely to survive beyond its current deadline in March 2018,* with the agreement seen falling apart towards the.. Zero Hedge Also reported by •OilPrice.com
Oil futures are rising after US oil inventories dropped more than expected.
The price of West Texas Intermediate crude oil futures rose slightly Wednesday morning, about 0.48% to $43.70. The US.. Business Insider
In a shocking development, on Wednesday Saudi Arabia’s King Salman appointed his 31-year-old son Mohammed bin Salman (his eldest son from his third wife) as crown prince, placing him as first-in-line.. Zero Hedge
Libya is producing 885,000 barrels of crude oil daily after last week it reached an agreement with German Wintershall that will see the latter restart production at fields with a combined output of.. OilPrice.com
Authored by Cyril Widdershoven via OilPrice.com,
The fledgling production cut strategy of OPEC (Saudi Arabia) and non-OPEC (Russia and the FSU) shows that *a new strategy is needed to counter the.. Zero Hedge
Crude oil prices hit a five-week low Wednesday as OPEC production rose and U.S. inventories showed smaller than expected draws. OPEC has been trying to bolster oil prices with a production cut deal,.. OilPrice.com
All data below is based on the latest OPEC Monthly Oil Market Report. All data is through May 2017 and is in thousand barrels per day. (Click to enlarge)OPEC crude only production was up 336,000.. OilPrice.com
Authored by Dave Forest via OilPrice.com,
*Libya has been one of the biggest x-factors in the global crude markets the past year.* With on-again, off-again production in this key nation alternately.. Zero Hedge
· *Protests swept across Russia on Monday*
· *The US Senate passed a bill that would tighten sanctions on Russia*
· *These developments will have an impact on how Russia's oil strategy plays.. Business Insider
WASHINGTON (dpa-AFX) - Crude oil futures plunged Wednesday amid a prolonged global supply glut that may worsen despite OPEC's production limits.'Oil has been weighed down by the market's impatienc... FinanzNachrichten.de
The International Energy Agency had a nasty surprise for OPEC and its partners in the oil output cut agreement today. According to the authority, non-OPEC production in 2018 will increase by 1.5.. OilPrice.com
The data is out, and the price of oil is dropping.
US crude inventories fell by 1.7 million barrels from last week, according to the US Energy Information Administration. The price of futures.. Business Insider
The Mexican peso has climbed to a 10-month high.
The currency was up by 0.1% at 18.0255 per dollar at 7:41 a.m. ET.
It has climbed by more than 16% against the greenback since touching a low in.. Business Insider