The Energy Information Administration offered jittery oil markets respite today by reporting a draw of 4.7 million barrels in U.S. commercial oil inventories. The report comes just one day after the.. OilPrice.com
Late on Monday the oil world was shocked to learn that Ecuador planned on exceeding its OPEC production quota, publicly breaking from the supply cuts agreed to in November 2016 and extended in May.. OilPrice.com
Jul.12 -- Steven DeSanctis, equity strategist at Jefferies, and Stewart Warther, U.S. equity and derivatives strategist at BNP Paribas, discuss energy market reaction to OPEC production cuts. They.. Source: Bloomberg Technology -
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 -
Ecuador has become the first country to publicly admit it will not meet Opec’s production curbs, saying it needs to pump more oil to address its fiscal deficit. The South American country’s.. S.China Morning Post
*Bulletin headline summary from** RanSquawk*
· The USD-index dropped to 10 month lows amid fading hopes of US reforms after Obamacare repeal effectively died last night.
· Soft CPI from the UK.. Zero Hedge
Ever since the OPEC production cut deal was announced last year in Vienna, there have been two key wildcards fascinating the oil trader and analyst community: what would be the deal compliance (in.. Zero Hedge
All data below is based on the latest OPEC Monthly Oil Market Report. All data is through June 2017 and is in thousand barrels per day. (Click to enlarge) The above chart does not include the.. OilPrice.com
Oil has edged up to about $49 a barrel today after fewer drilling rigs were added in the United States last week, helping ease concerns that surging shale supplies will undermine OPEC-led production.. RTE.ie
A surge in the US oil shale industry has been one of the major contributors to the fall in oil prices this year.
In July alone, 2.4m barrels per day is expected to come from the US Permian basin.. City A.M.
Over the next three weeks, the investing world will shift its attention away from the endless chatter of central bankers and concerns about the state of the economy, and instead focus on second quarter.. Zero Hedge
Nigeria is ready to support OPEC’s cuts and limit its crude oil output when it reaches a stable 1.8 million bpd, Nigerian Oil Minister Emmanuel Kachikwu said on Wednesday. Nigeria and Libya—exempt.. OilPrice.com
Kazakhstan is standing by its commitment to stick to the OPEC/non-OPEC agreement for production cuts, Kazakhstan’s Energy Minister Kanat Bozumbayev said on Wednesday, reiterating the official Kazakh.. OilPrice.com
DUBAI (Reuters) - Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying.. Reuters Also reported by •Reuters India
Crude oil prices lifted today despite coming under pressure as a number of banks slashed their price forecasts.
Global benchmark Brent crude dropped more than one per cent before recovering to.. City A.M.
Suuposedly catalyzed this time by *EIA forecast production cuts*, WTI crude has spiked off an early tumble for the 3rd day in a row, running stops above $45. It appears the algos missed the fact that.. Zero Hedge
*A Silver Legend Throws in the Towel on Oil*
By Vince Lanci for Soren K. Group
In 2010 I wrote an anonymous article for Zerohedge on Silver manipulation. Anonymous because the.. Zero Hedge
Goldman has done it again: less than two weeks after the bank said "oil prices have likely hit bottom of the price range, and look attractive" when it slashed its WTI price target from $55 to $47.50.. Zero Hedge
High demand for air conditioning and fuel for road trips make summer the best time for the Organization of Petroleum Exporting Countries (OPEC) to cut production or exports to end or lessen the supply.. OilPrice.com
India, the world's third-largest oil importer, has sealed a first deal to import crude oil from the US and the shipment is expected to touch Indian shores in October.
The deal, by state-owned Indian.. DNA