OPEC production at highest in years thanks in part to higher Iranian exports By Alex Lawler LONDON (Reuters) – Oil fell below $48 a barrel on Thursday, pressured by a stronger dollar and as a surprise increase in U.S. crude inventories served as a reminder that supply remains ample despite output problems. Supply losses in
Oil drops below $48 on Fed hike speculation, fading support from outages Read More »
Brent futures trading at $49.11/b, West Texas Intermediate futures flat at $48.31/b By Ahmad Ghaddar LONDON (Reuters) – Brent crude prices eased on Wednesday, after hitting 2016 highs in the previous session, as the impact of unplanned supply disruptions in Nigeria and Canada was tempered by rising supplies elsewhere. International Brent crude futures were trading at
Oil prices ease Wednesdy despite supply disruptions Read More »
Benchmark U.S. crude oil dropped $1.95 to $41.17/b, Brent fell $1.96 to $46.88/b Shares of the world’s biggest oil companies are tumbling to multi-year lows on new data showing that U.S. crude oil inventories continue to rise at a time of year when they are typically in decline. Commercial inventories increased by 2.6 million barrels last week, according an Energy Information Administration report Wednesday, jolting energy
Crude oil inventories up, energy stocks tumble Read More »
EIA is forecasting lower and upper limits of $27/b and $103/b for crude oil prices in December 2016 The uncertainty roiling global oil markets has caused the Energy Information Administration to lower its crude oil prices prediction to $49/b in 2015 and $54/b in 2016. The revised Short-Term Energy Outlook for West Texas Intermediate (WTI) lowers the EIA’s
EIA crude oil prices forecast plunges due to market ‘uncertainty’ Read More »
US shale producers innovating, driving down costs vs. Saudi marginal cost of $10 per barrel Who’s winning the heavyweight bout for international oil markets? One American analysts is arguing for a US shale victory, but don’t count out OPEC just yet. An American Thinker piece by Chriss Street entitled, “OPEC accepts defeat in anti-fracking war with US”
OPEC beaten by American shale producers? Not even close Read More »
EOG Resources says it is positioning itself to be competitive in a “low-price environment” EOG Resources Inc, one of America’s biggest shale producers, says it will frack wells in South Texas Eagle Ford if oil prices stabilize around $65 per barrel. EOG Resources Inc., considered a leader in the U.S. shale oil industry, reported a better-than-expected
EOG Resources will frack in Texas if oil hits $65 a barrel Read More »
