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Oil Prices Leap Higher After Draw In Crude Inventories

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..

Is This A Sign That The OPEC Deal Is Doomed?

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..

Videos for "Opec Production"

News video: BNP Strategist Says Market Not Buying OPEC Optimism

BNP Strategist Says Market Not Buying OPEC Optimism 02:09

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 -

News video: OPEC Decision

OPEC Decision

The Organization of Petroleum Exporting Countries announced today that it would extend oil production cuts for another 9 months beginning in July.
Source: KXMB -

News video: Ag & Energy News

Ag & Energy News

Ag & Energy News
Source: KARD -

News video: Ag & Energy Report 6.6.17

Ag & Energy Report 6.6.17

Ag & Energy Report 6.6.17
Source: KARD -

News video: Why UBS' Tay Sees a Recovery in Oil Prices

Why UBS' Tay Sees a Recovery in Oil Prices 02:51

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 breaks ranks with Opec on production cuts by increasing oil output

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

Dollar Tumbles, Euro Soars After Obamacare Repeal Dies; China Intervenes To Halt Rout

dollar tumbles, euro soars after obamacare repeal dies; china intervenes to halt rout
*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

OPEC Deal Splinters: Ecuador Will No Longer Comply With Production Quota Due To "Difficult Economic Situation"

opec deal splinters: ecuador will no longer comply with production quota due to difficult economic situation
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

Russian Oil Output Falls While OPEC Boosts Exports

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..

Oil edges up towards $49, US drilling slowdown supports

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..

This is why US shale oil has surged and is weighing on prices

this is why us shale oil has surged and is weighing on prices
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.

A Bearish Citi Warns "Bigger Forces Are At Play", Pointing To Its 'Chart Of The Week'

a bearish citi warns bigger forces are at play, pointing to its 'chart of the week'
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 Agrees To Production Cap When Oil Output Reaches 1.8 Million Bpd

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..

Crude oil extends loss to 0.7% after IEA says OPEC production rose in June


Nigeria has no timeframe to join OPEC production cuts - oil minister

ABUJA (Reuters) - Nigeria has no set timeframe to join OPEC oil production cuts, its oil minister said on Wednesday.
Reuters India Also reported by •Sify

Kazakhstan Not Backing Out Of OPEC Production Cut Deal

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..

Exclusive: Saudis to cut August oil exports to lowest level this year - source

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

Oil prices jump as Goldman Sachs calls on Opec to 'shock and awe'

oil prices jump as goldman sachs calls on opec to 'shock and awe'
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.

Another Day, Another V-Shaped Panic-Buying Spree in Crude Oil

another day, another v-shaped panic-buying spree in crude oil
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

Spoofing Lessons From Andy Hall - The Oil AND Silver King

*A Silver Legend Throws in the Towel on Oil* By Vince Lanci for Soren K. Group -BACKGROUND- In 2010 I wrote an anonymous article for Zerohedge on Silver manipulation. Anonymous because the..
Zero Hedge

Goldman Warns Oil Could Plunge Below $40 Absent OPEC "Shock And Awe"

goldman warns oil could plunge below $40 absent opec shock and awe
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

OPEC’s “Whatever It Takes” Is An Empty Promise

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..

Indian Oil Corporation to import 2 million barrels of crude oil from US

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..

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