Category: Crude oil

U.S. shale junk debt tumbles amid oil crunch

Prices for the risky corporate bonds that have fueled the U.S. shale energy boom are plummeting as oil prices have fallen below $60 a barrel for the first time in more than five years.  More »

Crude seen falling to $50 in 2015 as OPEC fails to stem glut

Brent futures sank to a five-year low Monday, two weeks after OPEC decided to maintain output even as the highest U.S. production in three decades swells a global surplus.  More »

Commentary: actions speak louder than words on oil prices

FuelFix.com Voices blogger Matt Smith takes a look a prices. His starting premise: “With soooooooo much talk swirling about the current oil price drop, I feel compelled to focus less on the rhetoric and more on the data. So the vibe of this post lands somewhere inbetwixt Elvis Presley’s ‘a little less conversation, a little more action’ and one of my bosses favorite phrases: ‘In God we trust, all others must bring data’.”  More »

Oil falls as UAE says OPEC won’t cut output to boost price

Prices have fallen about 20 percent to the lowest in five years since OPEC decided against cutting production to tackle the glut at a Nov. 27 meeting.  More »

Producers, oil-tool firms hold off on IPOs as crude plunges

Wall Street investors have had a hard time putting a stock-market value on these companies because crude prices are still wobbling daily.  More »

Goldman sees U.S. oil output unscathed as costs decline

The slump in benchmark U.S. crude futures, which are down more than 40 percent this year, is driving producers to move drill rigs to lower-cost fields, the bank said in an e-mailed report.  More »

Oil jumps most in two weeks as fighting, strike curb OPEC output

Fighting disrupted exports from Libya’s largest and third-largest crude ports and halted output from some fields, state-run National Oil Corp said.  More »

OPEC chief urges oil investment despite low prices

The secretary-general of OPEC on Sunday urged Gulf Arab nations to keep investing in oilfield development despite the plunge in crude prices and gave no indication the cartel was prepared to shift its strategy to halt the slide.  More »

Magellan condensate splitter in Corpus Christi gets clearance

A $250 million condensate splitter proposed for Corpus Christi got clearance from federal regulators on Friday, bringing it one step closer to construction.  More »

Crude fall raises prospects of layoffs in Wyoming

The drop in prices carries widespread implications in Wyoming, where a recently revived oil industry has bolstered payrolls and state coffers.  More »

Rig count falls as oil prices continue slide

A new report showed that producers had slowed the pace of drilling for oil as the commodity fell further fell further $60 per barrel on Friday.  More »

Crude oil extends drop below $60 as IEA cuts forecast

The IEA reduced its estimate for oil demand growth in 2015 by 230,000 barrels a day on Friday.  More »

Cheaper crude doesn’t mean cheaper products yet

Raw materials and fuel have gotten less expensive as oil prices plunge to their lowest levels in five years, but manufacturers may be reticent to pass on those savings to consumers until the volatile oil and gasoline markets begin to settle.  More »

Record oil tankers seen sailing to China amid stockpiling signs

There are 83 very large crude carriers bound for Chinese ports, according to shipping signals from IHS Maritime.  More »

WTI oil extends drop below $60 as IEA cuts forecast

WTI has tumbled 20 percent since OPEC decided to leave its output ceiling unchanged last month, resisting calls from members including Venezuela to cut production to stabilize prices.  More »
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