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Some on Wall Street see oil plunging to $40, and below

Prices are poised to drop further, testing the ability of U.S. shale drillers to keep pumping.  More »

U.A.E. sees oil drop hurting shale drillers, not OPEC

The Persian Gulf nation will stick with a plan to boost its capacity to 3.5 million barrels a day in 2017, in spite of the global supply glut.  More »

Oil drops below $45; U.S. stockpiles may speed collapse

Goldman Sachs Group Inc. said crude needs to drop to $40 a barrel to “re-balance” the market, while Societe Generale SA also reduced its price forecasts.  More »

U.S. drivers start 2015 with cheapest gas in six years

Gasoline at the pump is at the lowest since April 2009, when prices were $2.0549 a gallon.  More »

Oil falls as Goldman cuts outlook

Crude has to “stay lower for longer” if investment in shale is to be curtailed to re-balance the global market, according to Goldman analysts.  More »

Oil producers betting on bigger price drop

Companies are hedging more and drilling less amid concern that the biggest slump in prices since 2008 will continue.  More »

Iraq oil deal evokes Churchill in Islamic State battle

While their latest dispute was temporarily resolved last month to help finance the struggle against Islamic State, the accord has not addressed differences between administrations in Baghdad and Erbil that include the future of Kirkuk, northern Iraq’s main oil hub.  More »

Oil traders seen storing millions of barrels at sea on slump

Companies inquired about booking 10 very large crude carriers for storage in the past several days, Odysseus Valatsas, the chartering manager for Dynacom Tankers Management Ltd. near Athens, said by e-mail today.  More »

Oil tumbles to 5 1/2-year low as OPEC reaffirms stance

Representatives from Saudi Arabia, Kuwait and the U.A.E. stressed a dozen times in the past six weeks that OPEC won’t curb output to halt the rout.  More »

U.S. oil export ban poised to loosen with Mexico request

Petroleos Mexicanos is in talks with the U.S. Commerce Department to import 100,000 barrels a day of light crude to increase Mexico’s gasoline production and improve refining.  More »

How OPEC weaponized the price of oil against U.S. drillers

Representatives of Saudi Arabia, the United Arab Emirates and Kuwait stressed a dozen times in the past six weeks that the group won’t curb output to halt the biggest drop in crude since 2008.  More »

Continental CEO’s ex-wife cashes $1 billion check, his lawyer says

Oklahoma fracking billionaire Harold Hamm’s ex-wife cashed a check he sent her to cover the almost $1 billion awarded as alimony in their divorce, his lawyer said.  More »

Crude price slump exposing oil field risk takers

For the biggest explorers, the impacts of slumping prices are dramatic.  More »

Renowned trader sees $40 oil as ‘absolute price floor’

Crude could trade in the $40-a-barrel range in 2015, close to “an absolute price floor,” the head of Astenbeck Capital Management wrote in a Jan. 2 letter.  More »

Oil investors pour most money into funds in 4 years

Investors are piling into oil ETFs even after West Texas Intermediate crude, the U.S. benchmark, tumbled the most since 2008 last year amid signs of rising supply and weak demand.  More »
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