Post Tagged with: "Economy"

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

From Reuters


Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled …

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters


Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

From Reuters


Global oil major BP is deepening its ties with Indian conglomerate Reliance Industries by forging a fuel retailing joint venture to capitalize on rising demand in Asia’s third-biggest economy.

The move comes days after BP said it would …

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

From Reuters


Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports.

For the week, crude oil benchmarks recorded …

Source: Citgo

Venezuela Faces the Loss of Citgo – and Desperately Needed Dollars

From The Houston Chronicle


Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.

A U.S. appeals court ruled on Monday that …

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

From Reuters


Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.

The front-month Brent crude …

Texas Shale Pioneers Struggle to Appease Investors

Texas Shale Pioneers Struggle to Appease Investors

From Reuters


Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.

Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing …

Oil Gains on U.S. Economic Data, Gulf Crude Tanker Dispute

Oil Gains on U.S. Economic Data, Gulf Crude Tanker Dispute

From Reuters


Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply.

Brent crude futures …

US Economy Slowed to 2.1% Growth Rate in Second Quarter

US Economy Slowed to 2.1% Growth Rate in Second Quarter

From AP News


The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending.

The gross domestic product, the economy’s total output of goods and services, grew at a 2.1% annual rate last quarter, down …

Brazil Stimulus Package to Include 42 Billion Reais from Workers Fund

Brazil Stimulus Package to Include 42 Billion Reais from Workers Fund

From Reuters


Brazil’s government will free up a total of 42 billion reais ($11.1 billion) from a workers’ guarantee fund over the next two years, Economy Minister Paulo Guedes said on Tuesday, in an effort to boost flagging economic growth.…

China’s Economy: Top Pro-Market Reformer Highlights China’s Growth Dilemma

China’s Economy: Top Pro-Market Reformer Highlights China’s Growth Dilemma

Influential economist Wu Jinglian warns again of the dangers of a state-controlled economy

From ASIA TIMES

Wu Jinglian is regarded as China’s most celebrated economist. At the ripe old age of 89, he is considered the “spiritual leader” of the …

February 18, 2019 - 4:03 pm China, Closing Bell Story‎, Energy News
Iran’s Short-Lived Oil and Gas Boom

Iran’s Short-Lived Oil and Gas Boom

Iran’s energy sector will feel the repercussions of renewed sanctions

Iran has the world’s fourth-largest proved crude oil reserves and the world’s second-largest natural gas reserves, but production in the country has been suppressed by international sanctions and underinvestment.

Iran’s Short-Lived Oil and Gas Boom

Although …

Texas Oil and Gas Employment at Highest Level Since 2015

Texas Oil and Gas Employment at Highest Level Since 2015

The oil and gas sector in Texas remained strong through March according to the Dallas Fed’s new report. Prices for WTI crude oil rose slightly in March, staying close to $63 per barrel and oil production in the Permian Basin …

Oil Production Diving, Inflation Climbing Fast: Venezuelans Squeezed

Oil Production Diving, Inflation Climbing Fast: Venezuelans Squeezed

Venezuela’s citizens are left holding a bag, one that is saddled with $60 billion dollars worth of debt.

Citizens of Venezuela have been buying into bonds due to government policies of subsidizing the purchase of foreign debt by individual investors, …

Permian Basin Economic Indicators

Permian Basin Economic Indicators

The Federal Reserve Bank of Dallas reported that wages in the Permian Basin fell for the second quarter in a row after spiking in first quarter 2017. The rig count and crude oil production rose in January, the Fed said.…

What’s Next for the Economies of China and India?

What’s Next for the Economies of China and India?

Since 1990, China and India have accounted for 57% of the total increase in world energy consumption

Earlier this week the EIA put out data that revealed that the world’s developing countries used higher amounts of electricity than OECD countries. …

For the Year, U.S. Economic Growth Exceeds Five Year Average

For the Year, U.S. Economic Growth Exceeds Five Year Average

In spite of reaching only 0.7% in fourth quarter of 2015

The U.S. Bureau of Economic Analysis released the growth numbers for the U.S. economy for fourth quarter, and full-year, 2015. According to the BEA, economic growth was just …

January 29, 2016 - 6:16 pm Closing Bell Story‎, Oil and Gas 360 Articles
U.S. Economy Adds 211,000 Jobs in November

U.S. Economy Adds 211,000 Jobs in November

The Bureau of Labor Statistics (BLS) reported strong November jobs growth today ahead of the Federal Reserve’s December meeting. The U.S. economy added 211,000 jobs in the month of November, according to the BLS, adding to the possibility that …

December 4, 2015 - 6:06 pm Closing Bell Story‎, Oil and Gas 360 Articles
Oil will Settle at $60, Eventually

Oil will Settle at $60, Eventually

Economic indicators positive, sideways and negative

Yellen says she expects FED will raise rates in 2015 if employment grows

Bill Gross criticizes the FED’s zero policy


U.S. Bank Chief Investment Officer John De Clue, in a presentation to Denver area …

September 24, 2015 - 2:10 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
Russia Faces More Obstacles than Falling Oil Prices

Russia Faces More Obstacles than Falling Oil Prices

Low prices will hurt the Russian economy, but they are far from being Russia’s only problem

The World Bank last month released its growth projections for Russia in 2015 and 2016, offering a glimpse into a potentially bleak future for …

The Recovery is Real: EDC

The Recovery is Real: EDC

U.S. Growth Will Lead the Global Economy

Export Development Canada’s (EDC) Assistant Chief Economist and Director of Economic and Political Intelligence Centre, Stuart Bergman, gave a presentation in Denver this morning on the state of the global economy. The bottom …

January 13, 2015 - 6:24 pm Oil and Gas 360 Articles

New Report Outlines Colorado Oil & Gas Industry’s Economic Contributions to the State

“The economic contributions of the upstream and midstream oil and gas industry totaled $126.5 billion in output in Colorado between 2008 and 2012. In total, the industry supported more than 93,500 jobs in Colorado.”

In a new report by its

October 14, 2014 - 6:50 pm Oil and Gas 360 Articles
Bam! It’s Earnings Season Again – Q2’13 Estimates

Bam! It’s Earnings Season Again – Q2’13 Estimates

EnerCom, Inc. compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 190 E&P and OilService companies in our database. Click here for the full chart of estimates.

The median OilService company earnings …

July 19, 2013 - 4:32 pm Analytics, Earnings, Midstream, Oil and Gas 360 Articles
Same Ole' Stuff – Second Term: Economy Adds Another 157,000 Jobs; Rate Up to 7.9%

Same Ole' Stuff – Second Term: Economy Adds Another 157,000 Jobs; Rate Up to 7.9%

A recent CNBC article wrote:

“The new year started off with an old story: Employment grew again in January but not at a pace able to lower the jobless rate.

Nonfarm payrolls rose 157,000 for the first month of 2013 …

February 1, 2013 - 4:37 pm Oil and Gas 360 Articles

Laredo Petroleum CEO on Fox Business News

Laredo Petroleum (ticker: LPI) CEO Randy Foutch appeared on Fox Business News’ Markets Now to discuss the current natural gas environment, and how the U.S. can create demand sources for natural gas supply.

October 19, 2012 - 10:01 pm Oil and Gas 360 Articles
Bam! It's Earnings Season Again – Q3'12 Estimates

Bam! It's Earnings Season Again – Q3'12 Estimates

EnerCom, Inc. compiled third quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 185 E&P and OilService companies in our database. Click here for the full chart of estimates.

OAG360 notes that additional supporting …

October 17, 2012 - 10:55 pm Analytics, Earnings, Midstream, Oil and Gas 360 Articles, OPEC