Tag: Business
Trump energy policies yet to aid energy firms
Trump energy policies criticized by natural gas, utilities The proposed Trump administration energy policies, which include subsidies for coal and nuclear plants, were supposed to boost the American energy industry, but some sectors have been critical of the plan. “Subsidies don’t make you competitive – and don’t make you great again,” Robert Flexon, president and […]
Oil prices drop on rising US production, weaker refined products demand
Oil prices down as Baker Hughes reports drop in US rig count Oil prices fell in trading on Friday, undercutting a 10 per cent rally in December, as rising US production and a weakening demand for refined products overshadowed ongoing tensions in Iran. “The holiday demand surge that we get is in the rearview mirror,” […]
Column: US shale returns to growth, posing problem for OPEC
Futures prices sending signal to US shale firms to boost output By John Kemp LONDON, Jan 5 – US crude oil prices have risen above $60 per barrel which should accelerate shale drilling and production in the next few months, provided the price increase is sustained. US crude futures are trading over $60 for […]
Oil prices hit highest mark since spring 2015 on Iran unrest, OPEC cuts
Cold weather on US East Coast also boosts oil prices Oil prices rose to their highest levels since May 2015 on possible supply risks due to instability in Iran as well as successful OPEC-led output cuts and higher demand as a winter “weather bomb” hits the East Coast of the United States. By 3:43 p.m. […]
Most EV drivers lease cars, see upcoming models eclipsing current EVs
Almost 80 per cent of US EV drivers lease their vehicles The market for plug-in vehicles in the United States is dominated by leases, as many EV drivers opt to not buy their vehicles. According to a Bloomberg report, these drivers are often choosing to lease their cars because they believe upcoming models will exceed […]
Tesla Model 3 production target pushed back, despite progress
Tesla Model 3 delays impact share prices Tesla Inc announced it will likely be able to produce about 2,500 Tesla Model 3 sedans per week by the end of the first quarter, disappointing investors who expected the Palo Alto-based company to build 5,000 cars per week. In the fourth quarter of 2017, Tesla delivered 1,550 […]
Hybrid or EVs make up over half new car sales in Norway
EVs exempted from almost all taxes in Norway Reuters reports that sales of hybrids and EVs in Norway in 2017 rose to over half the new registrations in the Scandinavian, oil-rich country. According to data released on Wednesday by the Norwegian Road Federation (OFV), pure electric cars and hybrids accounted for 52 per cent of […]
Column: OPEC’s focus on oil stocks risks prices overshooting
Oil stocks overhang compared to 5-yr average has narrowed significantly By John Kemp LONDON – The Organization of the Petroleum Exporting Countries (OPEC) is sticking doggedly to its plan to cut commercial oil inventories down to the five-year average to rebalance the oil market. But in doing so, the organization risks tightening the market too […]
Oil prices hit 2 1/2 year high on strong economic data, Iran tensions
Oil prices up as Iran protests continue Oil prices rose to their highest levels in 2 1/2 years as investors were encouraged by strong economic data from the United States and Germany and the continuing unrest in Iran. By 1:06 p.m. EST, Brent crude was up $1.05 to $67.62/barrel, the highest since May 2015. US […]
Column: Hedge funds gamble OPEC will tighten oil market too much
Record net long position accumulated by hedge funds, other money managers By John Kemp LONDON, Jan 2 – Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. A record net long position […]
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