Oil Prices Dive after Reaching Year-to-Date High
March 22, 2019
Oil prices extend losses after reaching year-to-date high
Oil prices see little change Friday amid trading within tight range
March 1, 2019
Oil prices see little change Friday amid trading within tight range
Rising U.S. Crude Supplies Soften Oil Prices
February 20, 2019
Rising U.S. crude supplies help soften oil prices
Oil Rally Finally Pulls Hedge Fund Optimists Off the Sidelines
February 18, 2019
From Bloomberg Oil optimists look like they’re finally ready to take the driver’s seat in crude’s rebound. For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark. Sentiment is now the most bullish since late October.
Oil Market Volatility will Continue into New Year: Analysts
December 28, 2018
By CNBC Energy analysts believe oil market volatility will continue until the build-up in U.S. crude stockpiles reverses. U.S. crude fell to an 18-month low on Monday, only to post its best one-day performance in more than two years on Wednesday. The oil market is under the thrall of macroeconomic factors that are weighing on the stock market and raising
The Oil & Gas Story in 2018 was Written by Strong Oil Prices
December 27, 2018
Oil prices above breakeven for three quarters of the year positive for drillers On the whole, 2018 produced good news for U.S. oil and gas companies, at least through the first three quarters of the year. Prices were above breakeven level for the first nine months of 2018, allowing producers to kick drilling plans and capital usage into high gear,
Canadian Dollar Hits 18-Month Low
December 21, 2018
From The Globe and Mail The Canadian dollar was little changed against the greenback Thursday but hit a 1-1/2-year low earlier in the session and underperformed other G10 currencies, as investors worried that the slumping price of oil could hurt Canada’s economy. Oil prices hit their lowest in more than a year on worries about oversupply and the outlook for
Saudi Arabia Sees Oil at $80 in 2019 Budget
December 19, 2018
Bloomberg chief ME economist says Saudi needs $95 to balance its budget From Bloomberg Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions. The world’s biggest crude exporter is estimating that oil will average about $80 a barrel
Bank of America Sees Oil Gains in 2019, but That Forecast is Far from Universal
December 12, 2018
From CNBC A year ahead outlook report from Bank of America Merrill Lynch expects Brent crude to regain its recent losses in 2019 and settle at $70 a barrel. But amid mounting global uncertainty on everything from trade and monetary policy to politics, that forecast is far from consensus. After a dramatic summit of OPEC and non-OPEC members over the
Lower Oil Prices May Cause Shale Patch to Cut Budgets for the First Time Since Crash
November 29, 2018
From Bloomberg Lower prices mean explorers must trim spending to avoid debt West Texas Intermediate benchmark has tumbled 34% since Oct. 3 Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said. U.S. benchmark oil prices have dropped by more than a third from an
Oil Prices Fall toward 2018 Lows ahead of G-20, OPEC Meetings
November 27, 2018
China-U.S. trade war set to dominate G-20 gathering. Oil prices have lost almost a third of their value since early October, weighed down by an emerging supply overhang. From CNBC Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by
OPEC’s Abu Dhabi Meeting: We Will Need “New Strategies to Balance the Market” in 2019
November 13, 2018
With OPEC/non-OPEC conformity at 104% oil prices fall 7%-8% today The OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) for November met this weekend in Abu Dhabi and noted that countries participating in the Declaration of Cooperation achieved a conformity level of 104% in October 2018. In today’s trading, Brent was off 7%. The international oil benchmark is off more than $20
