Tag: OPEC

Don’t assume Saudi crude drop was move to bolster prices

Brent crude jumped yesterday after a person familiar with the country’s oil policies said the amount it supplied to markets fell in September by 328,000 barrels a day.  More »

Libya says OPEC must cut daily output

OPEC needs to reduce crude output by at least 500,000 barrels a day, Libya’s governor to the group said.  More »

WTI crude oil seen supported near $75 a barrel

Prices have tumbled more 20 percent from their June peak, meeting a common definition of a bear market.  More »

Hedge funds cut bullish bets on crude as prices tumble

Crude is now trading in a bear market, underpinned by speculation that OPEC members are favoring market share over prices.  More »

Oil tankers to China jump to nine-month high amid crude rout

The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases.  More »

Shale boom helping American consumers like never before

The drop in crude has pulled retail gasoline down more than 50 cents a gallon from the year’s high in April.  More »

WTI rebound above $80 holds as Goldman Sachs sees no oil glut

West Texas Intermediate is heading for its biggest one-day gain in a month.  More »

Citigroup sees $1.1 trillion stimulus from oil plunge

Crude prices are plunging amid signs that OPEC won’t act to eliminate a surplus as global growth slows.  More »

Falling oil prices shake up global economies

Dropping oil prices are having complex effects on economies around the globe that are only starting to be felt.  More »

End to oil collapse in sight for BofA, BNP Paribas

Some of the world’s biggest banks say the collapse in oil is just about over.  More »

Brent, West Texas crude keep dropping

Brent crude extended its biggest one-day collapse in three years amid speculation OPEC will refrain from eliminating a glut.  More »

Oil demand growth this year seen weakest since 2009

Oil demand will expand at the slowest pace since 2009 this year as global economic growth weakens.  More »
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