U.S. stocks declined on Tuesday, a day after benchmarks rose to records, as the price of oil slid to a three-year low, intensifying concerns about a slowing global economy. “There are three things we’re struggling with today: a lower assessment of the European economy, it’s down from where they were six months ago; the sufficiently… Keep reading →
The NRDC released a report that finds Chinese bunker fuel emissions are a serious and often “overlooked” problem. “With ships allowed to burn fuel with much higher sulfur levels than permitted in on-road diesel, one container ship cruising along the coast of China emits as much diesel fuel pollution as 500,000 new Chinese trucks in… Keep reading →
With all eyes on the global crude oil market due to recent price declines, analysts and investors are frantically searching for the bottom, with some expecting a continued plunge. While there could still be some short-term volatility and downward pressure, Barclays’ analysts see oil prices strengthening by mid to late 2015. Crude oil futures prices… Keep reading →
Whether or not the price of crude has hit bottom, oil stocks are still likely to appreciate over the next few months, Wolfe Research Managing Director Paul Sankey said Tuesday. West Texas intermediate crude dropped below $80 a barrel, hitting two-year lows, with some analysts predicting that it could head toward $70 in next year due to oversupply.… Keep reading →
As prices drop to around $80 per barrel, more attention is being focused on the mindset of Saudi Arabia, the world’s largest oil exporter. The 20 percent decline in oil prices over the past three months has been attributed to a wide range of factors, including declining growth in China, poor growth in Europe, and… Keep reading →
This article reevaluates Opec’s power to control the global oil market and focuses on a political scientist’s research that suggests the cartel’s strength has been overblown for years. “But a closer look at OPEC’s real influence over the oil market suggests that we’re making a huge mistake about its global power, says Brown University political… Keep reading →
Analysts and investors are trying to figure out the point at which oil prices fall too low for Venezuela to continue servicing its debt. The country’s export revenues are 95% oil reliant. “But this week’s fall in the oil price has further fomented worries of a possible default, pushing up Venezuelan bond yields to more than 18… Keep reading →
Alarmist media reports regarding oil’s foray into bear market territory could easily leave you thinking the oil industry is gasping its last breath. It certainly is not, as companies involved in the global oil complex are accustomed to commodity price volatility and most have experienced similar, if not worse, market corrections. In fact, over the… Keep reading →
As global oil prices beat a hasty retreat from the relative highs of recent years – dropping roughly $20 per barrel in weeks – market watchers have attempted to diagnose the situation. A popular view now is that Saudi Arabia is willing to take a short-term budgetary hit from lower prices in order to force… Keep reading →
Depending upon which side of the fence one sits, major oil supply disruptions are typically considered bad luck, but in Opec’s case, recent supply disruptions have helped balance the market and support prices. “OPEC has been lucky – 3.5 million bpd of shale production has been absorbed through disruptions. They’re running out of luck,” –… Keep reading →
